Judge approves sale of genetics company 23andMe to founder’s nonprofit group

A federal judge approved the sale of genetics company 23andMe to the TTAM Research Institute, a nonprofit led by the company’s cofounder and former CEO Anne Wojcicki.

23andMe said in a release Monday that TTAM is buying all of the company’s assets for $305 million. 23andMe previously declared Chapter 11 bankruptcy earlier this year.

The company had previously entered into a sale agreement for $256 million with Regeneron Pharmaceuticals that was successfully challenged by Ms. Wojcicki, according to the New York Times.

Previous 23andMe customers will be contacted ahead of the sale’s closure, 23andMe said, to let them decide whether they want their personal genetic data being used for research. TTAM is also committed to upholding 23andMe’s privacy guarantee.

On its website, the genetics company says that “your genetic data will not be shared with employers, insurance companies, or public databases without your explicit consent.”

Consumers can also download their data and delete their 23andMe accounts.

Ms. Wojcicki said that “TTAM will be a champion of improving our knowledge of DNA – the code of life – for the public good … 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.”

Some state attorney generals have come around on the sale of 23andMe and its database, while others remain opposed.

“I am relieved and encouraged that this potential sale will safeguard very personal data that Pennsylvanians and consumers nationwide wish to keep private … any consumer with a 23andMe profile should research and make their own decision as to whether they want to delete that profile,” Pennsylvania Attorney General Dave Sunday said in a release.

California, Kentucky, Tennessee, Texas and Utah still object to the sale. Their objection was dismissed by U.S. Bankruptcy Judge Brian Walsh, according to Politico.

Elissa Perez, a spokesperson for California Attorney General Rob Bonta, told Politico that “we believe that 23andMe’s proposed bankruptcy sale … does not comply with [the California Genetic Information Privacy Act] and are disappointed in the court green lighting the sale despite our objection.”