Summary
A bankruptcy judge has approved the sale of the DNA testing company 23andMe to the TTAM Research Institute, a nonprofit led by one of its co-founders, Anne Wojcicki. This sale ensures that the genetic data of 23andMe’s customers will be used for research and protected under the same privacy rules, avoiding transfer to a third-party company.
Key Facts
- A judge approved the sale of 23andMe, which is a DNA testing company.
- The company was sold to the TTAM Research Institute, a nonprofit set up by Anne Wojcicki, a co-founder of 23andMe.
- TTAM Research Institute won the bid with $305 million to buy 23andMe’s assets.
- 23andMe’s genetic data was avoided from being sold to Regeneron Pharmaceuticals.
- Most customers, about 80%, agreed to allow their DNA data to be used for research.
- The sale means the company will continue to follow its current privacy policies and let customers delete their data if they wish.
- Some states still oppose the sale, citing concerns about customer data control.
- Customers' data security concerns heightened after a previous hacking incident of 23andMe’s data.
