Ellume The administrators of failed Covid-19 testing firm Ellume...

Ellume The administrators of failed Covid-19 testing firm Ellume have been granted leave to hold an urgent creditors meeting in a bid to save its $56m bailout deal with Hough Pharma.A federal court judgment will allow the administrators to hold a meeting on Friday, April 28, with a shortened amount of time required to alert creditors that the meeting will take place.The creditors will be asked to vote on extending the “long stop date” under the current deed of company arrangement (DOCA), to allow Hough more time to secure funding for the $US38m deal.READ NEXTBrisbane-based Ellume called in administrators FTI Consulting in August after a bid to take on the US market resulted in losses of more than $100m.Founded in 2009 by Sean Parsons, the company rose to prominence with its rapid testing technology and large contracts with the US government.At the time it was placed in administration Ellume owed creditors an estimated $49m and employees about $1.69m. Convertible note holders, which included biotech Qiagen, were owed about $89m.