Still bubbling away AFR article "Ellume’s big biotech IPO still...

Still bubbling away AFR article "Ellume’s big biotech IPO still on the table" 9.03.22
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COVID-19 rapid testing company Ellume is understood to have closed its $85 million pre-initial public offering round late last year and fund manager sources reckon it’s planning to list in 2022, despite the widespread biotech sell-off this year.Ellume chief executive Dr Sean Parsons with a home COVID test. Attila CsaszarA term sheet seen by Street Talk revealed the raise was conducted in the form of a convertible note without a valuation - unsurprising given the wide array of opinions on how the company should be priced.Valuation numbers between $500 million and $1 billion were bandied about by investor types, and we’re betting Ellume’s board is happy about its decision not to lock in a valuation, given the surge in COVID-19 rapid testing globally through the omicron outbreak.