Nonprofit wins bid to acquire genetic testing company 23 and Me

The founder and former CEO of 23 and Me is set to regain control of the company.

Anne Wojcicki won a bid to purchase the genetic testing platform through her nonprofit TTAM Research Institute.

The $305M deal was part of a bankruptcy auction, beating out offers from Regeneron Pharmaceuticals.

23 and Me went bankrupt back in March, leaving millions of users worried about what could happen to their personal data.

More than two dozen states filed a lawsuit blocking the sale of genetic data without customer consent.

TTAM says it will honor 23 and Me's policies on customer privacy.