- Brisbane biotech firm Ellume went into voluntary administration last year
- The company had eyed off an unsuccessful $58million rescue deal
- Australian operations to be wound up with 40 losing their jobs
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An Australian biotech firm that made headlines after signing a massive deal to sell Covid-19 rapid testing kits to the US government has collapsed after a rescue package could not be reached.
The Australian operations of Brisbane-based Ellume went into voluntary administration in August, 2022.
It was hoped by administrators that a $58million offer by rival self-testing kit maker Hough would rescue the company but the deal fell over.
The company, which helped pioneer DIY Covid-19 testing kits before they became widely accessible, will now be wound up by June 13, with an estimated 40 employees to lose their jobs.
It was hoped by Ellume’s administrators that a $58million rescue by rival self-testing kit maker Hough would rescue the company but the deal…