TTAM Research Institute, A Nonprofit Public Benefit Corporation, Completes The Acquisition of 23andMe Assets
TTAM Research Institute, a California-based nonprofit public benefit corporation led by Anne Wojcicki, has completed the acquisition of 23andMe's (OTC: MEHCQ) Personal Genome Service (PGS) and Research Services business lines through a Section 363 bankruptcy sale.
The acquisition ensures the continuation of 23andMe's DNA testing and research services operations under TTAM's leadership. The nonprofit has committed to maintaining customer data transparency and choice, including the option for customers to modify their research participation preferences.
The transaction was executed as part of 23andMe's Chapter 11 bankruptcy proceedings, with multiple advisory firms supporting both parties throughout the process.
TTAM Research Institute, un'organizzazione no-profit con sede in California guidata da Anne Wojcicki, ha completato l'acquisizione delle linee di business del Servizio Genomico Personale (PGS) e dei Servizi di Ricerca di 23andMe (OTC: MEHCQ) attraverso una vendita ai sensi della Sezione 363 del fallimento.
L'acquisizione garantisce la continuità delle operazioni di test del DNA e dei servizi di ricerca di 23andMe sotto la guida di TTAM. L'organizzazione no-profit si è impegnata a mantenere la trasparenza e la libertà di scelta dei dati dei clienti, inclusa l'opzione per i clienti di modificare le proprie preferenze di partecipazione alla ricerca.
La transazione è stata realizzata nell'ambito delle procedure fallimentari del Capitolo 11 di 23andMe, con il supporto di diversi consulenti per entrambe le parti durante l'intero processo.
TTAM Research Institute, una corporación sin fines de lucro con sede en California dirigida por Anne Wojcicki, ha completado la adquisición de las líneas de negocio del Servicio Genómico Personal (PGS) y Servicios de Investigación de 23andMe (OTC: MEHCQ) a través de una venta bajo la Sección 363 en un proceso de bancarrota.
La adquisición garantiza la continuidad de las operaciones de pruebas de ADN y servicios de investigación de 23andMe bajo el liderazgo de TTAM. La organización sin fines de lucro se ha comprometido a mantener la transparencia y la opción de los datos de los clientes, incluyendo la posibilidad de que los clientes modifiquen sus preferencias de participación en la investigación.
La transacción se llevó a cabo como parte del procedimiento de bancarrota bajo el Capítulo 11 de 23andMe, con el apoyo de varias firmas asesoras para ambas partes durante todo el proceso.
TTAM 연구소는 캘리포니아에 본사를 둔 비영리 공익 법인으로, Anne Wojcicki가 이끌고 있으며, 23andMe(OTC: MEHCQ)의 개인 유전체 서비스(PGS) 및 연구 서비스 사업부를 섹션 363 파산 매각을 통해 인수 완료했습니다.
이번 인수를 통해 23andMe의 DNA 검사 및 연구 서비스 운영이 TTAM의 지도 하에 계속 이어질 것입니다. 비영리 기관은 고객 데이터의 투명성과 선택권을 유지하며, 고객이 연구 참여 선호도를 변경할 수 있는 옵션도 제공할 것을 약속했습니다.
이번 거래는 23andMe의 챕터 11 파산 절차의 일환으로 진행되었으며, 양측 모두 여러 자문사를 통해 지원을 받았습니다.
TTAM Research Institute, une organisation à but non lucratif basée en Californie et dirigée par Anne Wojcicki, a finalisé l'acquisition des lignes d'activité du Service de Génome Personnel (PGS) et des Services de Recherche de 23andMe (OTC : MEHCQ) via une vente en vertu de la Section 363 dans le cadre d'une procédure de faillite.
Cette acquisition garantit la poursuite des opérations de tests ADN et des services de recherche de 23andMe sous la direction de TTAM. L'organisme à but non lucratif s'engage à maintenir la transparence des données clients et leur liberté de choix, incluant la possibilité pour les clients de modifier leurs préférences de participation à la recherche.
La transaction a été réalisée dans le cadre de la procédure de faillite Chapter 11 de 23andMe, avec le soutien de plusieurs cabinets de conseil accompagnant les deux parties tout au long du processus.
TTAM Research Institute, eine gemeinnützige Organisation mit Sitz in Kalifornien unter der Leitung von Anne Wojcicki, hat den Erwerb der Geschäftsbereiche Personal Genome Service (PGS) und Forschungsdienstleistungen von 23andMe (OTC: MEHCQ) im Rahmen eines Section-363-Konkursverkaufs abgeschlossen.
Der Erwerb sichert die Fortführung der DNA-Test- und Forschungsdienstleistungen von 23andMe unter der Führung von TTAM. Die gemeinnützige Organisation hat sich verpflichtet, die Transparenz der Kundendaten sowie die Wahlmöglichkeiten der Kunden aufrechtzuerhalten, einschließlich der Option, ihre Teilnahmepräferenzen an der Forschung zu ändern.
Die Transaktion wurde im Rahmen des Chapter-11-Konkursverfahrens von 23andMe durchgeführt, wobei mehrere Beratungsgesellschaften beide Parteien während des gesamten Prozesses unterstützten.
- Continuation of 23andMe's core services under nonprofit leadership
- Commitment to maintaining customer data transparency and choice
- Preservation of business operations through bankruptcy transition
- 23andMe's bankruptcy status and delisting to OTC markets
- Potential uncertainty during ownership transition
- Loss of public company status and shareholder value
SAN FRANCISCO, July 14, 2025 (GLOBE NEWSWIRE) -- TTAM Research Institute (“TTAM”), a nonprofit public benefit corporation based in California and founded and led by Anne Wojcicki, today announced that it has completed the acquisition of the Personal Genome Service (PGS) and Research Services business lines of 23andMe Holding Co. (together with its debtor subsidiaries, the “Company”) (OTC: MEHCQ), a genetics-led consumer healthcare company, under Section 363 of the U.S. Bankruptcy Code.
As part of TTAM, 23andMe is continuing to operate and provide customers with personalized DNA testing and research services. 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.
Additional information regarding the Company’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 the Company 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 the Company’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 the Company’s current expectations and projections about future events and various assumptions. The Company 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 the Company’s forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond the control of the Company), 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 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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