Covid Test Maker Central to US Response Appoints Administrators

An Australian company that rose to prominence as part of the US’s Covid-19 rapid test kit rollout has been put into voluntary administration, as demand for its diagnostic products wanes amid a changing pandemic landscape.

Ellume Ltd., which received hundreds of millions of dollars from the US government to scale out production of its antigen Covid-19 test, said Thursday it appointed FTI Consulting Inc. as voluntary administrators in Australia. The process is similar to a Chapter 11 bankruptcy in the US, but requires less involvement of the courts. FTI will review Ellume’s finances and determine next steps for ...