23Andme Holding Co Stock Price, News & Analysis

23andMe (OTC: MEHCQ) has secured U.S. Bankruptcy Court approval for the sale of substantially all its assets to TTAM Research Institute, a nonprofit public benefit corporation, for $305 million. The transaction, expected to close in the coming weeks, includes the Personal Genome Service (PGS), Research Services business lines, and Lemonaid Health business.

TTAM Research Institute, led by 23andMe Co-Founder and former CEO Anne Wojcicki, will operate as a nonprofit focused on advancing human genome research for public benefit. The institute has committed to maintaining 23andMe's existing privacy policies and implementing additional consumer protections and privacy safeguards.

As part of the transition, all customers will receive advance notice of the sale via email. The deal represents a significant milestone in 23andMe's Chapter 11 proceedings and aims to preserve the company's founding mission of helping people access and understand genetic information.

23andMe (OTC: MEHCQ) 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 with Regeneron Pharmaceuticals. TTAM, a nonprofit public benefit corporation led by 23andMe Co-Founder Anne Wojcicki, won the final round of bidding in the court-approved sale process. The deal includes the Personal Genome Service, Research Services, and Lemonaid Health business lines. TTAM has committed to maintaining strict privacy protections, including honoring existing customer data rights, implementing additional safeguards, and establishing a Consumer Privacy Advisory Board. The agreement supersedes the previous $256 million deal with Regeneron and is subject to Bankruptcy Court approval, with a hearing scheduled for June 17, 2025.

23andMe (OTC: MEHCQ) has announced its intention to voluntarily delist from Nasdaq and deregister with the SEC. The company plans to file a Form 25 Notification of Delisting around June 6, 2025. This follows Nasdaq's suspension of 23andMe's Class A common stock trading on March 31, 2025. The delisting action comes after the company and its subsidiaries initiated voluntary Chapter 11 bankruptcy proceedings on March 23, 2025 in the U.S. Bankruptcy Court for the Eastern District of Missouri. Following the effectiveness of the Nasdaq delisting, 23andMe intends to file a Form 15 to complete its SEC deregistration.

23andMe (OTC: MEHCQ) has announced a definitive agreement to be acquired by Regeneron Pharmaceuticals (NASDAQ: REGN) for $256 million in a court-supervised sale. The deal includes 23andMe's Personal Genome Service, Total Health, and Research Services business lines, but excludes the Lemonaid Health subsidiary. Regeneron has committed to maintaining 23andMe's privacy policies and data protection standards, and will offer employment to all employees of the acquired units. The transaction, part of 23andMe's Chapter 11 proceedings, requires approval from the U.S. Bankruptcy Court and Hart-Scott-Rodino Act clearance. A Court-appointed Consumer Privacy Ombudsman will review the transaction's impact on consumer privacy by June 10, 2025, with court approval hearing scheduled for June 17, 2025. The deal is expected to close in Q3 2025.

23andMe (OTC: MEHCQ) has provided an update on its court-supervised asset sale process and customer data protection measures. The company's Special Committee will evaluate acquisition bids under U.S. Bankruptcy Court supervision. Key highlights:

- No bids will be accepted from entities based in or controlled by countries of concern (China, Cuba, Iran, North Korea, Russia, Venezuela)
- Bidders must guarantee compliance with company privacy policies and laws
- Potential bidders must detail intended use of customer data and privacy programs
- Company has filed motion to appoint independent Customer Data Representative (CDR) to review transaction compliance

The process requires regulatory approvals, including Hart-Scott-Rodino Act and Committee on Foreign Investment reviews. 23andMe maintains strict data privacy protocols and operates under consumer and genetic privacy laws.