Queensland-founded Admedus Immunotherapies has fallen into administration after a deal with drug developer Constellation Therapeutics failed to materialise.
Admedus Immunotherapies, an Australia-based vaccine spinout from University of Queensland part-owned by medical technology company Admedus, is to enter administration after a potential sale to drug developer Constellation Therapeutics collapsed.
Constellation had sought to renegotiate the terms of the transaction with Admedus, which owns shares through its Admedus Investments unit, along with Admedus Immunotherapies’ other shareholders. However no formal approach was forthcoming, leaving the spinout without sufficient capital to sustain its operations.
Founded in 2000 as Coridon and…
