An Australian Biotech Firm Collapses After Inking Massive Deal with US Government
- Brisbane biotech firm, Ellume, which signed a significant deal with the US government three years ago, has gone into voluntary administration
- An unsuccessful $58 million rescue deal was sought for the company
- The Australian operations of Ellume will be wound up, resulting in 40 job losses
Ellume, an Australian biotech firm known for its Covid-19 rapid testing kits, has collapsed after failing to reach a rescue package.
In August 2022, Ellume’s Australian operations entered voluntary administration.
The company’s administrators had hoped for a $58 million rescue deal with rival self-testing kit maker Hough, but the agreement fell through.
With the winding up of the company by June 13, approximately 40 employees are expected to lose their jobs.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – admin@vigourtimes.com. We will take necessary action within 24 hours.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – admin@vigourtimes.com. We will take necessary action within 24 hours.
