23andMe files for bankruptcy to protect assets and continue operation

Once groundbreaking, then a novelty, and finally somewhat problematic according to some, genetic testing powerhouse 23andMe has filed for Chapter 11 bankruptcy protection, TechCrunch reports. The thoroughly expected move comes after co-founder and CEO Anne Wojciki failed to convince a special committee of independent directors to move the company to her private ownership, along with investment group New Mountain Capital.