23andMe is ending its cancer research program and slashing over 200 jobs

1 week ago 10

The familial investigating steadfast plans to licence oregon merchantability the therapies it’s developing.

By Emma Roth, a quality writer who covers the streaming wars, user tech, crypto, societal media, and overmuch more. Previously, she was a writer and exertion astatine MUO.

Nov 12, 2024, 2:20 PM UTC

An representation showing the 23andMe sign

23andMe is laying disconnected 40 percent of its employees, oregon implicit 200 workers, arsenic the institution attempts to retrieve from past year’s monolithic information breach and reverse its plummeting banal price. The familial investigating institution besides announced that it volition unopen down its therapeutics business.

Though 23andMe says the restructuring program volition outgo it astir $12 million, it expects to prevention much than $35 cardinal arsenic a result, portion “substantially” lowering operating expenses. 23andMe’s therapeutics division, which studied imaginable crab treatments utilizing its database of familial material, volition extremity each objective trials, arsenic the institution considers licensing agreements oregon plus income to “maximize” the program’s value.

23andMe has had a turbulent past year, with the institution confirming a information breach affecting 6.9 cardinal users successful 2023, revealing names, commencement years, and ancestry information. In September, 23andMe agreed to wage $30 million to affected customers pursuing a people enactment lawsuit. Meanwhile, all of 23andMe’s committee members resigned aft rejecting CEO Anne Wojcicki’s plan to instrumentality the institution private.

“We are taking these hard but indispensable actions arsenic we restructure 23andMe and absorption connected the semipermanent occurrence of our halfway user concern and probe partnerships,” Wojcicki said successful a statement.

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