Brisbane-based home diagnostics firm Ellume has put its Australian wing into voluntary administration, 18 months after securing a $304 million US government contract to boost its COVID-19 test production capacity overseas.
ASIC data shows Ellume Limited entered external administration on Thursday.
The ABC reports John Park and Joanne Dunne of FTI Consulting were appointed as administrators, and plan to operate the company as a going concern as they assess the business’ viability.
The company’s US operations reportedly remain unaffected.
Founded by former clinician Sean Parsons in 2009, Ellume provides rapid diagnostics kits allowing patients to test themselves for infectious diseases at home.
The promise of its home flu-testing kits — allowing users to deposit a small nasal swab into a small sample reader, and interpret those results via smartphone app — saw Ellume raise $5 million from investors in 2019.
When the COVID-19 pandemic hit, Ellume positioned its products as a viable, DIY alternative to lab testing systems, which came under considerable strain through 2020 and early 2021.
The Queensland government also funded Ellume through its Essential Goods and Supply Chain program, designed to bolster manufacturers hit…