Filing Alert: 23andMe Chapter 11

23andMe Holding Co. and its debtor affiliates⁽¹⁾, a San Francisco, CA-based consumer genetics and biopharmaceutical company known for at-home DNA testing kits and genetic research, filed for Chapter 11 protection on Mar. 23 in the U.S. Bankruptcy Court for the Eastern District of Missouri.

The filing follows a string of setbacks, including a $30 million settlement from a 2023 data breach that affected nearly 7 million users. Additionally, all independent directors resigned in September 2024 after then-CEO Anne Wojcicki's unsuccessful attempt to take the company private. In November 2024, the company began restructuring, reducing its workforce by about 40% and shutting down its therapeutics division.

23andMe secured $35 million in DIP financing from JMB Capital Partners to maintain operations during bankruptcy and plans to sell its assets.

The company reports $277.4 million in assets and $214.7 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-40976.

⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.

Chapter 11 Debtors

Top Unsecured Claims

Key Parties

Counsel:

• Thomas H. Riske
• Carmody MacDonald P.C.
• Email: thr@carmodymacdonald.com

Co-Counsel:

• Paul, Weiss, Rifkind, Wharton & Garrison LLP

Special Counsel to Special Committee:

• Goodwin Procter LLP
• Lewis Rice LLC

Investment Banker:

• Moelis & Company LLC

Financial Advisor:

• Alvarez & Marsal North America, LLC

Claims Agent:

• Kroll Restructuring Administration Services LLC

Signatories:

• Matthew E. Kvarda – Chief Restructuring Officer

Equity Security Holders:

• ABeeC 2.0, LLC / Anne Wojcicki – 18.7% Equity Interest
• Zentree Investments Limited – 9.6% Equity Interest
• GSK plc – 7.2% Equity Interest
• Other Minority Holders (less than 5%) – 64.5%

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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