23andMe Founder Anne Wojcicki Buys Back Company Post-Bankruptcy in Surprise move

In a remarkable twist for the embattled genetic testing giant, Anne Wojcicki—co-founder and former CEO of 23andMe—has officially purchased the company out of bankruptcy, reclaiming control of the enterprise she helped launch nearly two decades ago. The move, which shocked much of the biotech and business world, positions Wojcicki at the center of a renewed push to restore the company’s reputation and navigate growing concerns around consumer data privacy.

Once hailed as a trailblazer in the consumer genomics space, 23andMe struggled in recent years with dwindling revenues, legal battles over data handling, and declining consumer trust. After going public in 2021 via a SPAC deal, the company saw its stock tumble over 90% by 2024. In early 2025, the company filed for Chapter 11 bankruptcy, citing unsustainable operational costs and regulatory pressures. Wojcicki’s reacquisition of the company marks both a personal and strategic comeback for one of Silicon Valley’s most recognized biotech figures.

The buyback deal, which is still pending final court approval, will likely avert what critics feared would be a transfer of sensitive genetic data to a third-party buyer with unclear intentions. Several U.S. state attorneys general had raised serious objections to the idea of customer DNA data being sold off in parts to pay creditors. With Wojcicki back in control, however, those concerns may ease, though advocacy groups are still urging for stronger safeguards and greater transparency in how the company handles genetic information moving forward.

In a statement released following the acquisition, Wojcicki said, “23andMe was built on a mission to empower people with knowledge about their genetics, health, and ancestry. I still believe in that mission. This new chapter gives us a chance to correct past missteps and rebuild trust.” She also hinted at a significant restructuring of the company’s services and a possible pivot away from direct-to-consumer testing as the primary revenue stream.

Industry observers say Wojcicki’s return could help 23andMe regain credibility and reorient its goals in a rapidly evolving biotech landscape. Still, the road ahead won’t be easy. Consumer expectations around data ownership have changed, competition in genetic testing has intensified, and scrutiny over health tech companies has reached unprecedented levels. But with its original founder at the helm and a clean slate ahead, 23andMe may have just earned a second chance in the eyes of both investors and the public.