23andMe Receives Court Approval for Sale to TTAM Research Institute, a Nonprofit Public Benefit Corporation

Core Viewpoint - 23andMe Holding Co. has received approval from the U.S. Bankruptcy Court for the sale of its assets and ongoing business operations to TTAM Research Institute for $305 million, marking a significant step in the company's transition to a nonprofit model [1][2]. Group 1: Transaction Details - The sale includes substantially all of 23andMe's assets, such as the Personal Genome Service (PGS) and Research Services business lines, as well as the Lemonaid Health business [2]. - The transaction is expected to close in the coming weeks, pending customary closing conditions [1]. Group 2: Company Mission and Future - The acquisition by TTAM is aimed at continuing 23andMe's mission of helping individuals access and understand their genetic information for health benefits [2][3]. - TTAM, as a nonprofit, will focus on improving public knowledge of DNA and enhancing healthcare access globally [3]. Group 3: Customer Data and Privacy - TTAM is committed to providing customers with choice and transparency regarding their genetic data, including options to change their participation in research [3]. - The organization will adhere to 23andMe's existing privacy policies and implement additional consumer protections for customer data [3].