The American provider of DNA tests 23andme has started legal proceedings to find a transferee. The company made heavy losses and is struggling with the consequences of a data breach.
The CEO and co -founder of the genetic company, Anne Wojcicki, immediately resigns but remains a director.
The company plans to remain active during the procedure. It is a so-called chapter 11 procedure in which a company requires protection against its creditors hoping to get a reorganization around and to avert bankruptcy.
The company has been around since 2006 and analyzes DNA samples for a fee to deliver a personalized genetic report. In its own words, 23andMe has already sold 12 million test kits in recent years.
British and Canadian Data Protection Authorities conducted an investigation into a data breach at the company in 2023. In the US, 23andme arranged in a lawsuit on poor privacy protection.