23andMe to hold second auction for DNA data, Bloomberg reports

23andMe (ME) will hold a second auction for its cache of DNA data with an opening bid of $305M from a group led by the company’s former CEO, Anne Wojcicki, Bloomberg’s Steven Church reports. The new auction is a compromise between Wojcicki, Regeneron (REGN), and 23andMe, with Wojcicki’s group making the opening bid and Regeneron able to counter with an offer of at least $315M. The auction is part of 23andMe’s bankruptcy proceedings, which began in March after the company failed to generate sustainable profits from its genetic testing services.