Core Insights - Anne Wojcicki is set to regain control of 23andMe after a $305 million bid from a nonprofit she controls, surpassing Regeneron Pharmaceuticals' previous offer of $256 million in a bankruptcy auction [1][2] - The deal is expected to close soon, pending a court hearing scheduled for June 17 [1] - 23andMe filed for bankruptcy in March due to declining demand and a data breach in 2023 that compromised sensitive customer information [2][6] Company Developments - 23andMe's bankruptcy filing was a result of a significant decline in consumer demand for DNA testing services [2][6] - The company faced legal challenges, with New York and over two dozen other states suing to contest the sale of its customers' private information [3] - TTAM Research Institute, associated with Wojcicki, has committed to upholding 23andMe's existing privacy policies and complying with data protection laws [2] Competitive Landscape - Regeneron Pharmaceuticals initially offered $256 million for 23andMe, which was later outbid by Wojcicki's nonprofit [1][5] - Regeneron expressed willingness to make a new bid but requested a $10 million breakup fee if Wojcicki's bid is accepted [5]