The founder of 23andMe opens new tab, Anne Wojcicki, requested a U.S. judge to reopen the genetic testing company's auction because she received backing from a Fortune 500 company valued at over $400 billion.

Court documents from Anne Wojcicki did not reveal the identity of the Fortune 500 company.

The genetic testing company 23andMe based in South San Francisco, California sought bankruptcy protection in March to auction its business after experiencing reduced consumer demand alongside a 2023 data incident that compromised sensitive information of millions of its consumers.

Regeneron Pharmaceuticals (REGN.O) reached an agreement last month to acquire the firm for $256 million which exceeds the $146 million proposal made by Wojcicki and TTAM Research Institute.

On May 31 Wojcicki filed that 23andMe's debtors worked to redirect the sales proceedings toward Regeneron instead of TTAM.

Both TTAM and Wojcicki claimed that 23andMe’s financial and legal advisers set a maximum bid limit of $250 million because they incorrectly doubted TTAM's financial capabilities. The plaintiffs argued the auction ended too soon before they could make a bid above $280 million.

According to the filing, the four-member special committee of independent directors undertook extensive and careful consideration before reaching the auction results as stated by the company's debtors.

23andMe filed for court permission to allow Wojcicki and Regeneron to present final proposals by the date of June 12. 23andMe wants to receive a $10 million breakup fee from Regeneron if Wojcicki's proposal wins approval.

Immediate responses to the email requests for comments were not provided by the legal teams representing 23andMe debtors and TTAM parties as well as Regeneron.