Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy in the US, according to a court filing made on Mar. 23, 2025. The company plans to sell itself through a court-supervised sale process.

Anne Wojcicki has stepped down as CEO and will be temporarily replaced by Chief Financial Officer Joe Selsavage. Wojcicki had previously tried to purchase the company, but her offers were rejected by the board.

The company has secured approximately US$35 million in debtor-in-possession financing to support operations during the sale process. Mark Jensen, Chair of the Board, stated that the decision to file for bankruptcy followed a thorough evaluation of strategic options aimed at maximizing the company’s value.

In its bankruptcy filing, 23andMe reported estimated assets and liabilities, each between US$100 million and US$500 million. The company’s stock has fallen nearly 50% since the beginning of the year.

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