DNA testing firm 23andMe files for bankruptcy, CEO resigns
23andme on Sunday presented bankruptcy request in the United States after having fought with the relapse of a data violation and a weak question for its ancestor test kits that presented in the annual list of favorite things of Oprah Winfrey only eight years ago.
The unicorn biotecnorno has seen a strong drop in its market value since then. On Monday, his shares decreased by 46 % to 96 cents after the co-founder and CEO Anne Wojcicki, who made more failed acquisition offers, resigned.
- Are you worried about your 23andme data? We want to feel you. Send an ee -mail to Ask@cbc.ca
Wojcicki will be replaced by Chief Financial Officer Joe Selsage on a temporary basis.
Founded in 2006, 23ndme was the first company to offer self -omic tests making users directly present saliva samples, which would have been analyzed to produce graphs of their background and lineage.
In 2021, Spac of the billionaire Richard Branson (acquisition company for special purposes) took 23 and public with an US assessment of $ 3.5 billion. Ancestrydna, which offers similar tests, was also purchased by Blackstone Group in the same year, despite the slowdown of sales for both genetic test companies.
A five -month violation of data in 2023, which exposed the personal data of almost seven million customers, gave a serious blow to the reputation of 23andme. At the end of last year, he fired 200 employees and stopped the development of all therapies.
He also agreed on a 30 million dollar US agreement in a cause linked to the violation.
Wojcicki has pushed for a buyout since last April, but was rejected by the Board of Directors of 23ndme. According to reports, he used his contacts including the ex-husband and co-founder of Google Sergey Brin to help guide the initial investments. In September, all independent administrators of 23andme resigned from the board of directors among the attempts of Wojcicki to take the private company. Three new independent directors were appointed in October.
He intends to make another offer, said Wojcicki in a post on X Monday, without providing details. His latest offer of 41 cents per action evaluated 23ndme to approximately $ 11 million USA, below its current value of $ 50 million USA, and a cry far from its $ 6 billion peak in 2021.
23andme has obtained a financing commitment of about $ 35 million in the United States on Sunday and will continue to operate during the sales process. He did not say if he had other offers or acquisition interests.
He listed the estimated activities and liabilities between $ 100 million and $ 500 million US.
