23andMe files for Chapter 11 bankruptcy, CEO steps down

Julia Gomez, USA TODAY

Mon, Mar 24, 2025, 6:31 AM 2 min read

23andMe, 1 of the "leading human genetics and biotechnology companies," announced that it has filed for bankruptcy.

On Sunday, March 23, 23andMe Holding Co. announced it started voluntarily filing for Chapter 11 Bankruptcy successful the U.S. Bankruptcy Court for the Eastern District of Missouri, according to a property release.

“After a thorough valuation of strategical alternatives, we person determined that a court-supervised merchantability process is the champion way guardant to maximize the worth of the business,” Mark Jensen, seat and subordinate of the company's Special Committee of the Board of Directors, said successful a statement.

23andMe is looking to "sell substantially each of its assets" and is seeking authorization from the tribunal to bash so, according to the property release.

In summation to helping its employees passim the transition, 23andMe is besides "committed to continuing to safeguard lawsuit information and being transparent astir the absorption of idiosyncratic information going forward," Jensen stated. "Data privateness volition beryllium an important information successful immoderate imaginable transaction.”

The company's banal fell by 46% connected Monday, reported Reuters.

60 years later: DNA investigating institution identifies Jane Doe

The announcement of the bankruptcy comes the aforesaid time arsenic the company's CEO, Anne Wojcicki, resigned.

Wojcicki was replaced successful the interim by Chief Financial Officer Joe Selsavage, according to Reuters.

The erstwhile CEO attempted aggregate takeover bids, but each failed.

In September 2024, conscionable six months earlier 23andMe filed for bankruptcy, the institution agreed to wage $30 cardinal successful a colony aft a class-action suit was brought against the institution for a 2023 information breach that affected 6.9 cardinal users.

The suit accused the institution of failing to support users' idiosyncratic accusation and neglecting to notify users of the breach.

In the breach, the pursuing idiosyncratic accusation was compromised:

• Account information

• Location

• Ancestry reports

• DNA matches

• Family names

• Profile pictures

• Birthdates

This nonfiction was updated to adhd much information.

Contributing: Reuters, Mary Walrath-Holdridge, Jim Sergent, Jonathan Limehouse, Fernando Cervantes Jr.; USA TODAY

Julia is simply a trending newsman for USA TODAY. You tin link with her on LinkedIn, travel her on X, formerly known arsenic Twitter, Instagram and TikTok: @juliamariegz, or email her astatine [email protected]

This nonfiction primitively appeared connected USA TODAY: 23andMe files for bankruptcy, CEO Anne Wojcicki resigns