08:22 AM EDT, 03/24/2025 (MT Newswires) -- (Updated with interim CEO appointment and share movement in the fifth and last paragraph respectively.)

23andMe (ME) said Sunday it has begun voluntary Chapter 11 bankruptcy proceedings to facilitate a sale.

The genetics testing and genealogy company said it plans to continue operating and safeguard customer data during the process.

23andMe said it is seeking court authorization to sell all of its assets through a Chapter 11 plan by soliciting qualified bids over 45 days.

In case of multiple bids, the company said it plans to hold an auction.

Anne Wojcicki has exited her role as CEO, effective immediately, and has been succeeded by CFO Joe Selsavage, who will take on the additional role of interim CEO, 23andMe said.

Shares of the company were down more than 44% in recent Monday premarket activity.