Anne Wojcicki made $305m bid for firm, which has lost customers since declaring bankruptcy, with backing of Fortune 500 company
23andMe’s former CEO is set to regain control of the genetic testing company after a $305m bid from a non-profit she controls topped a pharmaceutical company’s offer for it in a bankruptcy auction.
Last month, Regeneron Pharmaceuticals agreed to buy the firm for $256m, topping a $146m bid from Anne Wojcicki and the non-profit TTAM Research Institute. The larger offer prompted Wojcicki to raise her own with the backing of a Fortune 500 company, according to the former executive. The deal is expected to close in the coming weeks after a court hearing currently scheduled for 17 June, the company said on Friday.
Anne Wojcicki made $305m bid for firm, which has lost customers since declaring bankruptcy, with backing of Fortune 500 company 23andMe’s former CEO is set to regain control of the genetic testing company after a $305m bid from a non-profit she controls topped a pharmaceutical company’s offer for it in a bankruptcy auction.Last month, Regeneron Pharmaceuticals agreed to buy the firm for $256m, topping a $146m bid from Anne Wojcicki and the non-profit TTAM Research Institute. The larger offer prompted Wojcicki to raise her own with the backing of a Fortune 500 company, according to the former executive. The deal is expected to close in the coming weeks after a court hearing currently scheduled for 17 June, the company said on Friday. Continue reading… Technology, Genetics, Biology, Science Business | The Guardian
