Covid Test Maker Once Crucial to US Response Set to Liquidate After Failed Sale
- Australia’s Ellume joins other test companies that have failed
- Company collapsed after sale to a competitor fell through
Covid-19 test maker Ellume Ltd.’s sale to Hough Consolidated Pty Ltd. unraveled this week, and the company is now winding down operations.
Source: Ellume Ltd.
This article is for subscribers only.
An Australian company that clinched the first US clearance for its at-home Covid-19 test kit has collapsed into liquidation after a sale to a competitor fell through.
Covid-19 test maker Ellume Ltd.’s sale to Hough Consolidated Pty Ltd. unraveled this week, and the company is now winding down operations, according to a statement. Hough had agreed to buy the company in December for $38 million (A$56 million), but the deal fell apart after Hough made repeated requests to extend deadlines tied to the agreement.