As part of the restructuring, the company said it was closing its drug development arm, which had been conducting human trials for two of the company’s advanced drug candidates. The company said it would wind down those trials and try to sell those two ...

23andMe's big push into drug development, announced with great fanfare almost a decade ago, has ended with a whimper and sweeping job losses.

More than 200 employees of 23andMe are being laid off as part of the company’s ongoing cost-cutting measures. The layoffs will impact 40 percent of the genetic testing company’s workforce. 23andMe CEO and co-founder Anne Wojcicki said in a statement released on Monday that the staff reduction would save the beleaguered company more than $35 million.

The genetic testing company 23andMe announced it was laying off more than 200 employees, or roughly 40% of its entire workforce, according to a press release Monday. The move is part of a restructuring that will see the company also halt the development of its therapeutics division which had been working on various potential medical treatments.