23andMe, the genetic testing company, has filed for Chapter 11 bankruptcy to enable a sale process as it grapples with a faltering business model and security issues surrounding customer genetic data. Anne Wojcicki, the co-founder and CEO who resigned, expressed her disappointment but indicated her intention to bid for the company. Amid declining value and a significant data breach affecting millions of users, California authorities have urged consumers to consider exercising their privacy rights regarding their genetic data held by 23andMe.
The genetic testing company 23andMe has filed for bankruptcy protection in an attempt to sell itself, the American firm has confirmed.
Wojcicki, who helped start the company in 2006, said on X that she was "disappointed" by the bankruptcy decision, but confirmed that she would bid for the firm.
Almost half of the Californian firm's more than 15 million customers were affected by a data breach in 2023, raising concerns about the security of the genetic data it holds.
California Attorney General Rob Bonta issued a consumer alert on Friday about the company, reminding Californians to consider invoking their rights regarding data deletion.
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