Genetic testing company 23andMe has filed for Chapter 11 bankruptcy in the United States with plans to sell itself. CEO Anne Wojcicki, who had unsuccessfully attempted to acquire the company in the past, is stepping down, and interim CEO Joe Selsavage will take over. 23andMe has secured funding of approximately $35 million to continue its operations while going through the sale process. Board Chair Mark Jensen stated that the decision to pursue a court-supervised sale process was made after evaluating various strategic options. The company's estimated assets and liabilities are in the range of $100 million to $500 million as per the court filing. The company's shares have witnessed a nearly 50% decline this year.