23andMe

whosedaddy?

according to CNN Regeneron Pharmaceuticals intends to buy 23andme for $256million

https://edition.cnn.com/2025/05/19/business/regeneron-23-and-me

(updated to clarify the intent to buy and deal hasn't closed )

pinkypinky

Not bought yet. They're the top bidder but there's another month before it's final. Maybe they're still trying to drum up more bids.

whosedaddy?

Well yeah its not final (closing deals always takes months.). but they wouldn't report it this way unless they have signed some agreement of intent. (Not just top bidder)

Mick Tator

Twenty seven states filed proceedings on Monday, all seeking rulings that it cannot sell customers' genetic data without their consent.

23andMe responded the states’ arguments were without merit, and that the sale is permitted under 23andMe privacy policies and applicable law. “Customers will continue to have the same rights and protections in the hands of the winning bidder,” the company said.

In a separate filing, California Attorney General said the state was objecting to the proposed asset sale because it would violate California's restrictions on the transfer of sensitive genetic material.

23andMe last week applied to re-open bidding on its assets after receiving a $305 million offer from its co-founder Anne Wojcicki. The other bid was a $256 million offer from Regeneron Pharmaceuticals

whosedaddy?

And now they are getting fined £2.31m by the UK's privacy watchdog …

https://news.sky.com/story/23andme-fined-millions-by-uk-watchdog-over-profoundly-damaging-cyber-attack-13384880

and maybe more to come.

Mick Tator

June 13, 2025 (Edited)

23andMe Holding Co. ( “23”) today announced that it has entered into a definitive agreement with TTAM Research Institute (“TTAM”), and led by 23 Co-Founder and former CEO Anne Wojcicki, for the sale of substantially all of 23’s assets. The purchase price was $305 million; Regeneron was selected as the backup bidder as the deal is subject to Bankruptcy Court approval.

The transaction adopts 23’s Privacy Statements as TTAM has affirmed its commitment to comply with 23’s privacy policies and process all customer personal data in accordance with the consents, privacy policies and statements, terms of service, and notices currently in effect.

My take –

Firstly, the data-breach fine – good luck with collecting that,(for starters, it would rank as an unsecured debt, so cents on the $). Also, I'd guess that the old operations would have been ring-fenced at the time of sale and fines/potential fines will not pass to TTAM.

Secondly, as part of the deal the buyer has made binding commitments to adopt additional privacy protections. Most of these are impressive, and if followed through, should provide additional protections.

Despite that, I would not accept any of the carrots offered to allow data retention, I'd have it deleted. The company has a failed business model and will become increasingly dependent on an income stream from selling access to DNA data for medical research. That is not the reason genealogy hobbyists signed up for a test! The sale price would reflect some DNA record cancellations, but lethargy and ignorance will ensure that most will remain.

I believe that 23’s (mis)handling of its affairs and in particular the data breach will become a textbook case for business students for the next decade or so!

Hermy

Thanks for the ongoing commentary on this Mick.

I haven't yet deleted my account but it's keeping the issue on my mind.

pinkypinky

Yes, there is a valid concern that the person who led the original company to this point is now going to be in charge of it again.