Anne Wojcicki, co-founder of 23andMe, plans to buy back the troubled company for $305 million following its Chapter 11 bankruptcy filing. The agreement emerged from final bidding between TTAM Research Institute, which Wojcicki leads, and Regeneron Pharmaceuticals, who initially aimed to acquire the company for $256 million. Despite its previous valuation of $6 billion, 23andMe has faced financial difficulties, including a significant data breach resulting in a $30 million settlement. TTAM has promised to enhance consumer privacy protections as part of the deal, pending court approval.
23andMe co-founder Anne Wojcicki is set to buy back her company for $305 million after its recent bankruptcy, seeking a turnaround with new privacy commitments.
TTAM will comply with 23andMe's privacy policies and has committed to establishing a consumer privacy advisory board to enhance data protection.
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