Latest news with #AnneWojcicki
Time of India
17-07-2025
- Business
- Time of India
$6B valuation to bankruptcy: 23andMe acquired by nonprofit research institute TTAM, Anne Wojcicki announces
In a landmark shift for consumer genomics, Anne Wojcicki , the co-founder and former CEO of 23andMe, has announced the acquisition of the embattled DNA testing giant by her newly formed nonprofit, TTAM Research Institute . Once valued at nearly $6 billion, 23andMe has faced financial challenges, a public data breach, and declining consumer interest in recent years. Now, through a $305 million court-approved bankruptcy sale, the company's core operations, including its genetic testing and research services, will transition to a nonprofit model. Wojcicki, who personally led the acquisition effort, said the move is rooted in a firm belief: 'Everyone should continue to have the ability to learn about and benefit from their DNA,' and a nonprofit structure is the most ethical way to preserve that mission. She will serve as the head of TTAM, reaffirming her commitment to placing people over profits in the future of genomic science. Why a nonprofit takeover of 23andMe matters At the heart of the TTAM acquisition is a philosophical realignment of 23andMe's founding values. According to Wojcicki, the company was always meant to empower individuals to understand themselves at the deepest level, through their DNA. She emphasized that the code of life is not just a personal tool but a scientific frontier that benefits everyone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo By removing shareholder pressure and prioritizing public interest, TTAM aims to return to those roots. The organization will focus on ethically driven research, privacy protection, and expanding access to genetic insights, particularly for underserved populations. Wojcicki's vision resonates with urgency and passion. She said it has been sharpened by the recent personal losses of her father, sister, and nephew. These events, she shared publicly, have redirected her energy toward giving back to society with research and helping people benefit from learning about their genome. Deal specifics and legal hurdles The acquisition was executed under Section 363 of the U.S. Bankruptcy Code, a provision that allows distressed companies to sell assets quickly and with court approval. TTAM's $305 million bid outpaced an earlier offer from Regeneron Pharmaceuticals. Despite objections from several U.S. states over privacy concerns related to genetic data, the court ultimately sided with TTAM, requiring that consumers be notified and retain the right to delete their data. This legal safeguard ensures that customer control over sensitive genetic data remains intact, which Wojcicki has confirmed will continue under TTAM's leadership. Preserving customer access and privacy Wojcicki emphasized that current users will continue receiving DNA insights and ancestry reports without interruption. More importantly, TTAM is reinforcing 23andMe's commitment to data privacy, transparency, and informed consent. Over 80 percent of 23andMe's 15 million users have opted into research programs, a statistic Wojcicki proudly cited in her announcement. She credited this engaged community with powering more than 275 peer-reviewed publications across cancer, cardiovascular, and neurological conditions. This research model will remain fully opt-in, and data use will be clearly communicated to users. In her words, 'We are stronger and more powerful to make discoveries when we come together as a single community.' Reinvigorating research and science The transition to nonprofit status is expected to supercharge research efforts, with TTAM pledging to invest $84 million in operations over the next year. While 23andMe's contributions to science have already been significant, Wojcicki envisions a more inclusive, mission-driven approach targeting global health disparities and diseases that affect underrepresented populations. She called the pursuit of understanding DNA one of the most exciting scientific missions of our lifetime, emphasizing the 99.5 percent genetic similarity among all humans as a basis for uniting research and discovery across borders. By removing commercial pressures, TTAM seeks to transform 23andMe into a global engine for health equity, scientific collaboration, and breakthrough innovation. Anne Wojcicki's renewed leadership For Wojcicki, returning to lead 23andMe under TTAM is both a professional and personal turning point. After years of regulatory battles, Wall Street pressures, and internal setbacks, she is now free to lead with a clear, mission-first mandate. She framed her return as a personal calling, saying, 'My passion is 23andMe… the opportunity to help everyone benefit from learning about their genome with a healthier life is a personal mission where I am dedicating my resources and my time.' This next chapter, she said, will be defined by transparency, ethics, diversity, and inclusion, a model she hopes will inspire a new era of socially responsible biotech innovation. The future of personal genomics TTAM's acquisition of 23andMe marks a bold experiment. Can personal genomics thrive outside of the profit-driven corporate model? With Wojcicki at the helm and a powerful community of users behind it, the answer may well be yes. As Wojcicki put it, 'The future of healthcare belongs to all of us, and it's in our power to make a difference.' With continued public engagement, user-driven research, and an emphasis on health outcomes over quarterly earnings, 23andMe under TTAM has the potential to reimagine the role of DNA in everyday life.
Yahoo
10-07-2025
- Business
- Yahoo
23andMe users have until July 14 to file a claim in the DNA company's bankruptcy case. Here's how to do it.
Customers of the genetic testing company 23andMe have until July 14 to file a claim as part of a restructuring in its bankruptcy case. In filing a claim, eligible customers can seek compensation for suffering financial or other damages due to a 2023 cyberattack that compromised the sensitive personal information of nearly 7 million users. The direct-to-consumer company has customers submit a saliva sample for their DNA to be analyzed for ancestry purposes, family traits or health risks. 23andMe disclosed the data breach in October 2023, acknowledging that it had exposed users' personal information, including names, relationship labels, ancestry reports and percentage of DNA shared with relatives. This resulted in multiple class-action lawsuits. The DNA testing company filed for Chapter 11 bankruptcy protection in the U.S. in March due to low demand for its ancestry kits in the fallout of the breach. 23andMe alerted customers of the July 14 claim deadline back in May, which was set by the U.S. Bankruptcy Court for the Eastern District of Missouri. There are two types of claims that current and former 23andMe customers can file to receive money back: One is related to cybersecurity (Cyber Security Incident Claim), the other is not cybersecurity-related (General Bar Date Package). Eligible customers can submit either claim by following the instructions on this website. The deadline to file both types of claims is Monday, July 14, 2025. If it's submitted electronically, the deadline is at 11:59 p.m. CT; if it's submitted by hard copy, the deadline is 4:59 p.m. CT. Cyber Security Incident Claim 23andMe customers who are eligible to submit the Cyber Security Incident Claim electronically or via postal mail have to meet the following criteria: They were a customer of 23andMe between May 1, 2023, and Oct. 1, 2023. They received a notice that their personal information was compromised in the 2023 data breach. The customer 'incurred monetary damages or non-monetary damages' related to the cybersecurity incident. General Bar Date Package For 23andMe customers who believe they have a claim against the company's services, but it isn't cybersecurity-related, they should file a claim electronically or via postal mail under the General Bar Date Package. This could be related to non-cybersecurity issues, like problems with a customer's DNA results or telehealth services. If a 23andMe customer has questions about the claims process, more information can be found here. Customers can also email 23andMeInfo@ or call (888) 367-7556. No. A Chapter 11 bankruptcy filing means the company is restructuring, instead of liquidating its assets. 23andMe announced at the end of June that it has found a buyer, TTAM Research Institute, which is a nonprofit led by 23andMe cofounder and former CEO Anne Wojcicki. 'The transaction remains subject to Bankruptcy Court approval and customary closing conditions,' the company says. The access that current 23andMe customers have remains unchanged. 'There are no changes to how we store, manage or protect customer data,' according to 23andMe. After filing for Chapter 11 bankruptcy, 23andMe received permission from a judge to sell its most valuable asset — customers' DNA data. 'TTAM has affirmed its commitment to comply with 23andMe's privacy policy and applicable law with respect to treatment of customer data,' the company says, acknowledging the potential sale to TTAM Research Institute. A customer's 23andMe DNA data is not protected under the Health Insurance Portability and Accountability Act, known as HIPAA, which is a law that protects a person's private health information from being shared without the person's knowledge or consent. HIPAA only protects that type of information when it's provided to an entity like a hospital system, physician health plans or billing companies that conduct business with them. 23andMe is not subject to HIPAA regulations because it's a direct-to-consumer company outside of the health care realm. The person is treated as a consumer rather than a patient. The company noted in their FAQ for customers that there's an option for them to delete their data and account. Here's how users can delete their account and personal information: Log into your 23andMe account and go to the 'Settings' section of your profile Scroll to a section labeled '23andMe Data' at the bottom of the page Click 'View' next to '23andMe Data' Scroll to the 'Delete Data' section Click 'Permanently Delete Data' Confirm your request: You'll receive an email from 23andMe; follow the link in the email to confirm your deletion request "If a customer opted in to 23andMe Research, their Personal Information will no longer be used in any future research projects," a 23andMe spokesperson told CNET. "Please note, data cannot be removed from research that's already been conducted."
Reuters
08-07-2025
- Business
- Reuters
Judge briefly pauses 23andMe bankruptcy sale amid California's appeal
July 8 (Reuters) - A U.S. district judge put on hold the bankruptcy sale of genetic testing company 23andMe late on Monday, giving California three days to make its case that the sale should remain blocked during an appeal related to the state's genetic privacy law. California failed to convince a bankruptcy judge to stop the sale earlier on Monday, but U.S. District Judge Matthew Schelp in St. Louis ordered a brief pause following California's appeal of that ruling. Schelp scheduled a Thursday court hearing to determine if a longer pause is warranted in the case. 23andMe, which filed for bankruptcy in March, is selling its assets to TTAM Research, a new nonprofit founded by 23andMe co-founder Anne Wojcicki, for $305 million. 23andMe, TTAM and California did not immediately respond to a request for comment. California argues the sale violates the state's Genetic Information Privacy Act, which prohibits the transfer and disclosure of genetic data or biological samples to third parties, including TTAM Research, without express permission for each transfer. California consumers represent about 1.8 million of the approximately 10 million genetic profiles in 23andMe's inventory, according to California's court filings. U.S. Bankruptcy Judge Brian Walsh had overruled California's objection, and similar objections from other states opposed to the sale on June 27. He said Monday that California customers would not be harmed because they retained the right to delete their genetic data even after the sale is complete. TTAM has said it would continue to protect customers' genetic data and maintain 23andMe's privacy policies, including customers' right to delete their data. Wojcicki was 23andMe's CEO before its bankruptcy filing, and her new nonprofit's name is an acronym formed from the first letters of the words 'twenty-three and me.' 23andMe filed for bankruptcy after a drop-off in consumer demand and a 2023 data breach that exposed millions of customers' genetic data. The case is California v. 23andMe Holding Co., U.S. District Court for the Eastern District of Missouri, No. 25-cv-0099 For California: Bernard Eskandari and Daniel Nadal of the Office of the Attorney General of California For 23andMe: Christopher Hopkins and Paul Basta of Paul Weiss, among others Read more California fails to stop 23andMe founder from re-acquiring company 23andMe's founder Anne Wojcicki wins bid for bankrupt DNA testing firm DNA testing firm 23andMe files for bankruptcy as demand dries up
Globe and Mail
07-07-2025
- Business
- Globe and Mail
23andMe founder can re-acquire company after judge rejects California's attempt to delay sale
Genetic testing company 23andMe can proceed with a US$305-million sale to the company's co-founder Anne Wojcicki after a U.S. bankruptcy judge rejected California's bid to delay the sale while the state appeals over privacy concerns related to the deal. U.S. Bankruptcy Judge Brian Walsh, who previously approved Wojcicki's buyout of the company, said in a court hearing in St. Louis that California's appeal was 'likely to fail' and that California customers would not be 'irreparably harmed' if the sale went forward while the state appealed. 'They remain free to delete their accounts and data at any time,' Walsh said of 23andMe's California customers. 23andMe did not protect customers' data, Canadian and British watchdogs find 23andMe filed for bankruptcy in March, seeking to sell its business after a drop-off in consumer demand and a 2023 data breach that exposed millions of customers' genetic data. California had argued the sale violates the state's Genetic Information Privacy Act, which prohibits the transfer and disclosure of genetic data or biological samples to third parties, including Wojcicki's new non-profit TTAM Research. The state had sought to prevent California customers' data from being transferred, a step that 23andMe said would effectively kill the sale. California consumers represent about 1.8 million of the approximately 10 million genetic profiles in 23andMe's inventory, according to California's court filings. 'Everyone knows that this is a sale of DNA to a third party,' California's attorney Bernard Eskandari said in court. 'It has always been a sale of DNA to a third party.' TTAM Research won a bankruptcy auction for 23andMe's assets in June, overbidding a US$265-million offer from Regeneron Pharmaceuticals. TTAM said it would continue to protect customers' genetic data and maintain 23andMe's privacy policies, including customers' right to delete their data. Wojcicki was 23andMe's CEO before its bankruptcy filing, and her new nonprofit's name is an acronym formed from the first letters of the words 'twenty-three and me.' Several other U.S. states, including New York and Texas, also opposed the sale and said that their state laws also prevent the sale of customers' genetic data without their consent. Walsh overruled those objections on June 27.
CNET
04-07-2025
- Business
- CNET
23andMe's Data Breach Settlement Could Net You Free Money: Here's How
Hackers used a credential stuffing attack to gain access to 23andMe accounts in October 2023. Getty Images/Viva Tung/CNET Ever used 23andMe? If you have, you might be able to get paid as part of the company's ongoing class-action settlement, but you'll have to move quickly, since it closes in less than two weeks. It's been a tough few years for the once-popular ancestry-tracking service, which was struck by a prolonged data breach that allowed hackers to gain personal data for about half of the company's 14 million customers in 2023. The company has struggled ever since then, and filed for bankruptcy in March 2025. It is now being acquired by TTAM Research Institute, a nonprofit led by 23andMe co-founder Anne Wojcicki, which outbid Regeneron Pharmaceuticals. The San Francisco-based company, which allows people to submit genetic materials and get a snapshot of their ancestry, announced in October 2023 that hackers had accessed customer information in a data breach. A January 2024 lawsuit accused the company of not doing enough to protect its customers and not notifying certain customers with Chinese or Ashkenazi Jewish ancestry that their data had been targeted specifically. It later settled the lawsuit for $30 million. "We have executed a settlement agreement for an aggregate cash payment of $30 million to settle all US claims regarding the 2023 credential stuffing security incident," a 23andMe spokesman told CNET. "We continue to believe this settlement is in the best interest of 23andMe customers, and we look forward to finalizing the agreement." A few months after that decision, there's now an official method available to make a claim and potentially get paid by 23andMe, in some cases as much as $10,000. Keep reading to get all the details you need, and for more, find out why T-Mobile settlement checks have been delayed and discover whether you can claim a piece of Apple's Siri privacy settlement. How many people did the 23andMe data breach hit? The settlement could cover roughly 6.9 million 23andMe customers whose data was targeted. To qualify, 23andMe customers must also have been US residents as of Aug. 11, 2023. That 6.9 million number includes around 5.5 million customers of 23andMe's DNA Relatives profiles, which lets people find and connect with genetic relatives. The other 1.4 million people affected by the breach used another service known as Family Tree, which predicts a family tree based on the DNA users share with relatives, 23andMe said. How much money could I get from the settlement? At the top end, 23andMe has said it would pay out up to $10,000 with an "Extraordinary Claim" to each customer who can verify that they suffered hardships as a direct result of their information being stolen in the data breach that resulted in unreimbursed costs. This includes costs from "identity fraud or falsified tax returns," acquiring physical security systems, or receiving mental health treatment. Residents of Alaska, California, Illinois and Oregon who were affected by the data breach can also apply for a payment as part of the proposed settlement, since those states have genetic privacy laws with damages provisions. The payments for these individuals are expected to be around $100, depending on how many people file for them, a settlement document said. Also, a smaller subset of affected users whose personal health information was impacted by the breach will be able to apply for a payment of $100. Infographic: Gianmarco Chumbe/CNET. Photo:Will the 23andMe settlement include anything else? Beyond those payments, 23andMe will also offer impacted users three years of a security monitoring service called Privacy Shield, which filings described as providing "substantial web and dark web monitoring." How can I file a claim for the 23andMe settlement? To file a claim electronically, you can use this official online portal from the Kroll Restructuring Administration. An additional online form is available if you would like proof of your claim sent to you. Potential claimants can also download and print out hard copies of the claim form and proof of claim form if they wish to submit them by mail. If you plan to use this method, send your forms to one of the addresses listed on the claims website. The deadline to make a claim is July 14. For more, you can read about how class action lawsuits work.
