pharmaphorum August 5, 2024
A proposal by 23andMe founder and chief executive Anne Wojcicki to take the genetic testing company private has been rejected by a special committee of the board of directors.
Wojcicki offered to buy all the shares in the company she does not already own last week for $0.40 apiece in cash, according to a Securities & Exchange Commission (SEC) filing, which indicated she and her associates own around 20% of the stock.
The filing alluded to a “constrained capital markets and fundraising environment” that was making it hard to maintain its mission of embedding its testing technology within healthcare systems around the world.
23andMe went public via a merger with a special purpose acquisition company (SPAC) in 2021 and at...
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