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Anne Wojcicki, co-founder of 23andMe, is urging a U.S. judge to reopen the genetic testing company’s bankruptcy auction, claiming support from a Fortune 500 company with a market cap exceeding $400 billion. While the backer remains unnamed in court filings, Wojcicki argues the auction process unfairly excluded her nonprofit group, TTAM Research Institute.
23andMe filed for Chapter 11 bankruptcy in April 2025 following declining demand and a 2023 data breach affecting millions of users' sensitive genetic data. In May, biotech firm Regeneron Pharmaceuticals (NASDAQ: REGN) won the auction with a $256 million bid, surpassing TTAM and Wojcicki’s $146 million offer.
In a new filing dated May 31, Wojcicki alleges 23andMe’s advisers unfairly capped TTAM’s bid at $250 million over doubts about its financial capacity. She insists TTAM was prepared to bid over $280 million but was blocked before submitting the higher offer. Wojcicki contends the auction was prematurely closed to favor Regeneron.
23andMe’s debtors, however, maintain that the process was overseen by a special committee of independent directors and conducted fairly. According to recent court documents, the company now seeks approval to allow both Regeneron and Wojcicki to submit final proposals by June 12.
If Wojcicki’s bid is chosen, 23andMe is requesting court approval to pay Regeneron a $10 million breakup fee. None of the involved parties—Regeneron, TTAM, or 23andMe’s legal teams—have commented publicly on the latest developments.
This high-stakes legal dispute underscores the competitive value of 23andMe’s genetic data business amid shifting market dynamics and privacy concerns. The case could also set a precedent for bankruptcy auctions involving nonprofit bidders.
