23andMe Receives Court Approval for Sale to TTAM Research Institute, a Nonprofit Public Benefit Corporation
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) ha ottenuto l'approvazione dal Tribunale fallimentare degli Stati Uniti per la vendita di quasi tutti i suoi beni a TTAM Research Institute, una corporazione senza scopo di lucro, per 305 milioni di dollari. L'operazione, che si prevede si concluda nelle prossime settimane, comprende il servizio Personal Genome Service (PGS), le linee di business dei Research Services e di Lemonaid Health.
TTAM Research Institute, guidato dalla cofondatrice e ex CEO di 23andMe Anne Wojcicki, opererà come un ente no-profit focalizzato sull'avanzamento della ricerca sul genoma umano a beneficio pubblico. L'istituto si è impegnato a mantenere le attuali politiche sulla privacy di 23andMe, implementando ulteriori protezioni e garanzie per i consumatori.
Durante la transizione, tutti i clienti riceveranno un preavviso della vendita tramite email. L'accordo rappresenta una tappa importante nel processo di ristrutturazione Chapter 11 di 23andMe e mira a preservare la missione originaria dell'azienda, ovvero aiutare le persone ad accedere e comprendere le informazioni genetiche.
23andMe (OTC: MEHCQ) ha obtenido la aprobación del Tribunal de Quiebras de EE. UU. para la venta de casi todos sus activos a TTAM Research Institute, una corporación sin fines de lucro, por 305 millones de dólares. La transacción, que se espera se cierre en las próximas semanas, incluye el servicio Personal Genome Service (PGS), las líneas de negocio de Research Services y Lemonaid Health.
TTAM Research Institute, dirigido por la cofundadora y ex CEO de 23andMe, Anne Wojcicki, operará como una organización sin fines de lucro enfocada en avanzar la investigación del genoma humano para beneficio público. El instituto se ha comprometido a mantener las políticas de privacidad existentes de 23andMe y a implementar protecciones adicionales para los consumidores.
Como parte de la transición, todos los clientes recibirán un aviso previo de la venta por correo electrónico. El acuerdo representa un hito importante en los procedimientos del Capítulo 11 de 23andMe y busca preservar la misión fundacional de la empresa de ayudar a las personas a acceder y comprender la información genética.
23andMe (OTC: MEHCQ)는 미국 파산 법원의 승인을 받아 TTAM Research Institute라는 비영리 공익 법인에 자산 대부분을 3억 500만 달러에 매각하기로 했습니다. 이번 거래는 향후 몇 주 내에 완료될 예정이며, 개인 유전체 서비스(Personal Genome Service, PGS), 연구 서비스 사업부 및 Lemonaid Health 사업이 포함됩니다.
TTAM Research Institute는 23andMe 공동 창립자이자 전 CEO인 Anne Wojcicki가 이끌며, 공공의 이익을 위한 인간 유전체 연구 진전을 목표로 하는 비영리 기관으로 운영될 예정입니다. 이 연구소는 23andMe의 기존 개인정보 보호 정책을 유지하고 추가적인 소비자 보호 및 개인정보 안전장치를 도입할 것을 약속했습니다.
전환 과정의 일환으로 모든 고객에게 이메일을 통해 매각 사전 통지가 제공될 예정입니다. 이번 계약은 23andMe의 챕터 11 절차에서 중요한 이정표가 되며, 사람들이 유전 정보를 접근하고 이해할 수 있도록 돕는 회사 설립 목적을 유지하는 데 목적이 있습니다.
23andMe (OTC : MEHCQ) a obtenu l'approbation du tribunal de faillite des États-Unis pour la vente de la quasi-totalité de ses actifs à TTAM Research Institute, une organisation à but non lucratif, pour 305 millions de dollars. La transaction, qui devrait se finaliser dans les semaines à venir, inclut le service Personal Genome Service (PGS), les activités Research Services ainsi que Lemonaid Health.
Le TTAM Research Institute, dirigé par Anne Wojcicki, cofondatrice et ancienne PDG de 23andMe, opérera en tant qu'organisme à but non lucratif dédié à l'avancement de la recherche sur le génome humain au bénéfice du public. L'institut s'engage à maintenir les politiques de confidentialité actuelles de 23andMe et à mettre en place des protections supplémentaires pour les consommateurs.
Dans le cadre de cette transition, tous les clients recevront un avis préalable de la vente par email. Cet accord représente une étape importante dans la procédure de redressement judiciaire de 23andMe au titre du Chapitre 11 et vise à préserver la mission fondatrice de l'entreprise, qui est d'aider les personnes à accéder et comprendre les informations génétiques.
23andMe (OTC: MEHCQ) hat die Genehmigung des US-Insolvenzgerichts für den Verkauf nahezu aller Vermögenswerte an das TTAM Research Institute, eine gemeinnützige Organisation, für 305 Millionen US-Dollar erhalten. Die Transaktion, die in den kommenden Wochen abgeschlossen werden soll, umfasst den Personal Genome Service (PGS), die Geschäftsbereiche Research Services und Lemonaid Health.
Das TTAM Research Institute, unter der Leitung von 23andMe-Mitgründerin und ehemaliger CEO Anne Wojcicki, wird als gemeinnützige Organisation betrieben, die sich der Förderung der Humangenomforschung zum Wohle der Öffentlichkeit widmet. Das Institut hat sich verpflichtet, die bestehenden Datenschutzrichtlinien von 23andMe beizubehalten und zusätzliche Verbraucherschutzmaßnahmen sowie Datenschutzvorkehrungen umzusetzen.
Im Rahmen des Übergangs erhalten alle Kunden eine Vorabbenachrichtigung über den Verkauf per E-Mail. Der Deal stellt einen bedeutenden Meilenstein im Chapter-11-Verfahren von 23andMe dar und zielt darauf ab, die Gründungsmission des Unternehmens zu bewahren, Menschen den Zugang zu genetischen Informationen zu erleichtern und deren Verständnis zu fördern.
- Sale price of $305 million provides value for stakeholders
- Continuation of 23andMe's core services and mission under nonprofit structure
- Enhanced privacy protections and consumer safeguards under TTAM
- Preservation of customer genetic data access and research options
- Leadership continuity with former CEO Anne Wojcicki
- Company sold through bankruptcy proceedings
- Transition from public company to nonprofit status
- Uncertainty during ownership transition period
- Loss of shareholder equity value through bankruptcy
SAN FRANCISCO, June 30, 2025 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (“23andMe” or the “Company”) (OTC: MEHCQ), a genetics-led consumer healthcare company, today announced that it has received approval from the U.S. Bankruptcy Court for the Eastern District of Missouri (the “Court") for the sale of substantially all of the Company's assets and ongoing business operations to TTAM Research Institute (“TTAM”), a nonprofit public benefit corporation based in California and led by 23andMe Co-Founder and former CEO Anne Wojcicki. The transaction is expected to close in the coming weeks, subject to customary closing conditions.
"This approval marks a significant milestone in our Court proceedings and solidifies the path forward to ensure that 23andMe’s founding mission of helping people access, understand and gain health benefits through greater understanding of the human genome lives on globally,” said Mark Jensen, Chair of the Board and member of the Special Committee of the Board of Directors of 23andMe. “We remain focused on completing the steps necessary to finalize the transaction in the weeks ahead so the Company can move into its next chapter as a nonprofit.”
Under the terms of the agreement, TTAM will acquire substantially all of the assets of 23andMe, including the Personal Genome Service (PGS) and Research Services business lines and the Lemonaid Health business, for a purchase price of
“I am thrilled that TTAM will be able to build on the mission of 23andMe to help people access, understand and benefit from the human genome. As a nonprofit, TTAM will be a champion of improving our knowledge of DNA – the code of life – for the public good, creating a resource to advance human health globally,” said Ms. Wojcicki. “Core to my beliefs is that individuals should be empowered to have choice and transparency with respect to their genetic data and have the opportunity to continue to learn about their ancestry and health risks as they wish. The future of healthcare belongs to all of us.”
TTAM is committed to providing customers with choice and transparency with their data, including the option to change their decision on whether to participate in research. To that end, all customers will be emailed in advance of the transaction closing with a notice of the sale. TTAM is committed to adhering to 23andMe’s existing privacy policies in perpetuity, and is adopting additional consumer protections and privacy safeguards to enhance protections for customer data and privacy.
Additional information regarding 23andMe’s Chapter 11 filing, proceedings and claims process is available at https://restructuring.ra.kroll.com/23andMe. Questions about the claims process should be directed to the Company’s claims agent, Kroll, at 23andMeInfo@ra.kroll.com or by calling (888) 367-7556.
Advisors
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Carmody MacDonald P.C. are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Moelis & Company LLC is serving as investment banker to the Company and the Special Committee of 23andMe’s Board of Directors. Reevemark and Scale are serving as communications advisors to the Company.
Skadden, Arps, Slate, Meagher & Flom LLP, Kirkland & Ellis LLP, Arnold & Porter Kaye Scholer LLP, and Quinn Emanuel Urquhart & Sullivan LLP are serving as legal advisors to TTAM Research Institute. TD Cowen LLP is serving as financial advisor to TTAM Research Institute.
About 23andMe
23andMe is a genetics-led consumer healthcare company empowering a healthier future. For more information, please visit www.23andme.com.
About TTAM Research Institute
The TTAM Research Institute is a nonprofit medical research organization dedicated to helping scientists and non-scientists join together to unravel the mysteries of DNA - the code of life. TTAM believes everyone should have the opportunity to access their individual genetic code and be empowered to contribute it to scientific research. The TTAM Research Institute was founded and is led by Anne Wojcicki.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “predicts,” “continue,” “will,” “schedule,” and “would” or, in each case, their negative or other variations or comparable terminology, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on 23andMe’s current expectations and projections about future events and various assumptions. 23andMe cannot guarantee that it will actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements and you should not place undue reliance on 23andMe’s forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond the control of 23andMe), or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements, which could include the following: risks and uncertainties relating to the Company’s Chapter 11 case (the “Chapter 11 case”), including but not limited to, the Company’s ability to obtain Court approval with respect to motions in the Chapter 11 case, the effects of the Chapter 11 case on the Company and on the interests of various constituents, Court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the debtors’ ability to complete the sale of substantially all of their assets to TTAM Research Institute under Section 363 of the Bankruptcy Code, the length of time the Company will operate under the Chapter 11 case, risks associated with any third-party motions in the Chapter 11 case, the potential adverse effects of the Chapter 11 case on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; whether the Company will emerge, in whole or in part, from the Chapter 11 case as a going concern; trading price and volatility of the Company’s Class A common stock,
Contact Information
investors@23andme.com
press@23andme.com
FAQ
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