The genetic testing company 23andMe — which allows users to spit in a tube and send away the sample for a detailed DNA analysis — is filing for bankruptcy.
The California biotech firm announced in a statement this week that it had entered the federal bankruptcy process with the goal of finding a buyer to address its ongoing money troubles. Co-founder Anne Wojcicki also has stepped down as CEO, and said in a post on X she hopes to purchase the company herself. The board rejected an offer she made earlier this month, according to a press release.
How to delete your 23andMe personal data and genetic sample
Genetic testing company 23andMe is filing for bankruptcy and seeking a new buyer after facing significant financial losses. Users are being advised to delete their genetic data to protect their privacy. The company’s privacy policy allows for the sale or transfer of personal information in the event of a sale. Experts warn that users’ genetic information could be used in unexpected ways if the company is sold. 23andMe is undergoing voluntary Chapter 11 proceedings to reorganize its debts and assets.