The DNA 23andme take a look at firm has submitted for chapter 11 the safety of chapter to assist the corporate promote after years of economic difficulties. Anne Wojcicki, co-founder and CEO of the 23andme, introduced on X that she has resigned with rapid impact to turn into an unbiased bidder for the corporate, with the top of economic officer and accounting officer Joe Selsavage who participated within the place of interim CEO.
“After a radical analysis of strategic alternate options, we’ve got established courtroom of sale supervised in courtroom is one of the best ways to maximise the worth of the enterprise,” stated Mark Jensen, chairman and member of the Particular Committee of the Board of Administrators, in an announcement. “We anticipate the supervised strategy of the courtroom to advance our efforts to deal with the operational and monetary challenges we face, together with extra price reductions and fixing authorized and renting liabilities.”
23andme says that they intend to “proceed to work their enterprise” throughout the chapter process and that the shopper’s entry to information and subscriptions is not going to be affected.
“I had many successes, however I additionally take duty for the challenges we’ve got right this moment,” Wojcicki stated. “There isn’t a doubt that the challenges that 23ands are going through by means of an evolving enterprise mannequin have been actual, however my religion within the firm and its future is unwavering.”