March 23 (Reuters) - Genetic testing firm 23andMe

filed for Chapter 11 bankruptcy in the U.S. on Sunday and said

it was looking to sell itself.

23andMe said its CEO Anne Wojcicki, whose previous bids to

buy the company were rejected by its board, was resigning from

her role and will be replaced by CFO Joe Selsavage on an interim

basis.

The company added it has secured a debtor-in-possession

(DIP) financing commitment for about $35 million and expects to

continue operating during the sale process.

"After a thorough evaluation of strategic alternatives, we

have determined that a court-supervised sale process is the best

path forward to maximize the value of the business," Board Chair

Mark Jensen said.

The company listed both estimated assets and estimated

liabilities in a range of $100 million to $500 million in the

court filing.

Shares of the company are down nearly 50% this year.

(Reporting by Anusha Shah in Bengaluru; Editing by Mrigank

Dhaniwala)