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].

Core Viewpoint - 23andMe has entered into a definitive agreement to sell substantially all of its assets to TTAM Research Institute for $305 million, following a competitive bidding process that included Regeneron Pharmaceuticals as a backup bidder [2][3]. Group 1: Transaction Details - The sale includes the Personal Genome Service (PGS), Research Services business lines, and Lemonaid Health business [2]. - The transaction is subject to approval by the U.S. Bankruptcy Court, with a hearing scheduled for June 17, 2025 [7]. - The agreement with TTAM will replace a previously announced acquisition agreement with Regeneron for $256 million [5]. Group 2: Privacy and Consumer Protections - TTAM has committed to comply with 23andMe's privacy policies and applicable laws, ensuring customer data is processed according to existing consents and privacy statements [4]. - Additional consumer protections include honoring customer rights to delete accounts and genetic data, notifying customers before closing, and establishing a Consumer Privacy Advisory Board within 90 days [6]. - TTAM will offer two years of free identity theft monitoring to customers and will continue to allow de-identified data to be used for research [6].

Core Viewpoint - Regeneron Pharmaceuticals is acquiring 23andMe out of bankruptcy for $256 million, gaining access to a significant collection of genetic data and samples from over 15 million customers, which raises privacy concerns [1][4]. Company Acquisition Details - The acquisition includes 23andMe's Personal Genome Service, Total Health and Research Services, and its biobank [1]. - The deal is expected to close in the third quarter of 2025, pending bankruptcy court and regulatory approvals [2]. Privacy and Compliance - Regeneron has committed to adhering to 23andMe's consumer-privacy rules and will collaborate with a court-appointed ombudsman to ensure compliance [3]. - The company aims to protect the dataset with high standards of data privacy and security [3]. Background on 23andMe - 23andMe was once valued at over $6 billion after going public in 2021 but has since dropped to a valuation of approximately $50 million due to various issues, including a $30 million settlement related to a data breach affecting nearly 7 million users [4][5]. - The company filed for bankruptcy in March, prompting the California Attorney General to advise customers to delete their data from 23andMe's database [5][8]. Leadership Changes - Anne Wojcicki, co-founder and CEO of 23andMe, stepped down on the day of the bankruptcy filing following internal conflicts with the board [9]. - All seven independent board members of 23andMe resigned in September, indicating significant governance issues within the company [9].