Investor backs 23andMe amid bankruptcy crisis

In a significant development within the U.S. genetics sector, 23andMe, a consumer genetics company based in California, has recently filed for bankruptcy protection as of March 2025. The filing has raised concerns among its users regarding the privacy of their genetic data. Richard Magides, a British investor and the director of Zentree Investment, has stepped forward expressing interest in assisting the troubled company. Zentree was reported to hold a 9.6 percent margin, making it the second-largest shareholder at the time of the bankruptcy proceedings. Magides highlighted that, with the right adjustments, he believes 23andMe could reach a valuation exceeding one billion dollars. The community of users, however, is grappling with safety concerns over their data. Laura Khalil, a user from Detroit, voiced anxiety about who might acquire her genetic information should the company be sold. Other users like Linda Ketchum and detective Vadurro presented varied opinions on the potential sale. While Ketchum shows hope for the future privacy of her data through any new ownership, Vadurro reported a past positive experience where her genetic data helped solve a family mystery. The California Attorney General has advised users to consider deleting their data given the uncertainty surrounding its future. In response to these concerns, 23andMe stated that they continue to prioritize user privacy and data protection amidst the ongoing transaction discussions. The contrasting feelings among users underline the complexity of privacy when it involves genetic data and raises broader questions about user consent in such transactions as businesses in the tech and healthcare industry evolve.