Fact Check: Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets before Anne Wojcicki's TTAM submitted a higher bid.

Fact Check: "Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets before Anne Wojcicki's TTAM submitted a higher bid."

What We Know

Regeneron Pharmaceuticals announced a bid of $256 million to acquire 23andMe after the genetic testing company filed for Chapter 11 bankruptcy protection. This announcement was made on May 19, 2025, and the deal was intended to include substantially all of 23andMe's assets, excluding its Lemonaid Health subsidiary (AP News, Regeneron Newsroom).

However, on June 13, 2025, it was reported that Anne Wojcicki's nonprofit organization, the TTAM Research Institute, won a bid to acquire 23andMe for $305 million, surpassing Regeneron's initial offer (CNN, Reuters). Regeneron later confirmed that they did not submit a higher bid based on their assessment of 23andMe’s remaining value (CNN).

Analysis

The claim that Regeneron initially announced a bid of $256 million before a higher bid from Wojcicki's TTAM is misleading. While it is true that Regeneron made a bid of $256 million, it was not the only bid submitted during the bankruptcy auction process. The timeline indicates that Regeneron's bid was publicly announced on May 19, and it was later outbid by TTAM, which was confirmed on June 13 (AP News, Reuters).

Furthermore, Regeneron did not pursue a higher bid after their initial offer, which they justified by stating their assessment of the company's value (CNN). This indicates that there was no competitive bidding process where Regeneron attempted to outbid TTAM after their initial offer.

The sources used for this analysis are credible, including major news outlets like AP News, CNN, and Reuters, which are known for their journalistic integrity. However, the claim itself misrepresents the sequence of events and the nature of the bidding process.

Conclusion

Verdict: False. The claim that Regeneron Pharmaceuticals initially announced a bid of $256 million for most of 23andMe’s assets before a higher bid from Anne Wojcicki's TTAM is inaccurate. Regeneron did make a bid of $256 million, but it was not the only bid, and they did not attempt to submit a higher offer after TTAM's bid was made.

Sources

1. Biotechnology company Regeneron buying 23andMe for $256 million
2. Anne Wojcicki's nonprofit wins bid to acquire genetic testing company
3. Regeneron Enters into Asset Purchase Agreement to Acquire 23andMe® for $256 Million
4. Anne Wojcicki's nonprofit wins bid to acquire genetic testing company
5. Regeneron's $256M bid wins 23andMe bankruptcy auction
6. Anne Wojcicki to buy back 23andMe and its data for $305 million
7. Regeneron, A Leading U.S. Biotechnology Company, to Acquire 23andMe in Bankruptcy Auction
8. Regeneron to Acquire 23andMe with Winning $256M Bid