Wojcicki's controversial bid to reclaim 23andMe

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Wojcicki's controversial bid to reclaim 23andMe

^{Published on 2025-03-04 10:01:09 - STAT}

23andMe CEO Anne Wojcicki is attempting to buy her company back for a mere $42 million. It's a fraction of the company's former value: Just four years ago, the DNA testing company was worth $6 billion. The company's plunge follows market shifts, a major data breach, and an expensive foray into drug development.

The article from STAT News discusses several key developments in the biotech industry as of March 4, 2025. Anne Wojcicki, the CEO of 23andMe, is exploring strategic options for the company, including potential partnerships or a sale, amidst financial challenges. Illumina is facing regulatory scrutiny from the European Union regarding its acquisition of Grail, which could lead to significant fines or forced divestiture. Capricor Therapeutics received FDA approval for its cell therapy aimed at treating Duchenne muscular dystrophy, marking a significant advancement in genetic medicine. Additionally, the NIH announced a major initiative to fund research into long COVID, reflecting ongoing concerns about the condition. Lastly, Canada is making strides in its biotech sector with new investments aimed at fostering innovation and growth.

Read the Full STAT Article at:
[ https://www.statnews.com/2025/03/04/biotech-news-23andme-anne-wojcicki-illumina-capricor-fda-nih-canada-the-readout/ ]

N@N

Wojcicki's controversial bid to reclaim 23andMe