23andMe is ending its most cancers analysis program and slashing over 200 jobs

23andMe is shedding 40 % of its workers, or over 200 staff, as the corporate makes an attempt to recuperate from final 12 months’s huge knowledge breach and reverse its plummeting inventory worth. The genetic testing firm additionally introduced that it’ll shut down its therapeutics enterprise.

Although 23andMe says the restructuring plan will price it round $12 million, it expects to avoid wasting greater than $35 million in consequence, whereas “considerably” decreasing working bills. 23andMe’s therapeutics division, which studied potential most cancers remedies utilizing its database of genetic materials, will finish all scientific trials, as the corporate considers licensing agreements or asset gross sales to “maximize” this system’s worth.

“We’re taking these tough however essential actions as we restructure 23andMe and give attention to the long-term success of our core client enterprise and analysis partnerships,” Wojcicki stated in a press release.