23andMe Confirms All Potential Buyers Must Agree to Comply With Privacy Policy and Applicable Law

Core Points - 23andMe has received court approval for its first day motions related to its voluntary Chapter 11 petitions filed on March 23, 2025, allowing the company to pay employee wages and benefits, compensate vendors, and enter into a $35 million debtor-in-possession financing facility from JMB Capital Partners [1][2] - The company is committed to maintaining its consumer privacy policies and has not altered its management of customer data during the bankruptcy proceedings [2] - The court has authorized 23andMe to initiate a process to sell substantially all of its assets, with bidding procedures approved, requiring potential buyers to comply with the company's consumer privacy policy [3][4] - A 45-day process will follow the petition date for soliciting qualified bids, with any sale involving customer data subject to court approval and regulatory oversight [4] - A second day hearing is scheduled for April 22 to consider additional requested relief, including approval of the DIP facility [5] Company Information - 23andMe is a leading human genetics and biotechnology company focused on consumer healthcare [8]