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An ASX-listed diagnostics agency has backed out of a Victorian authorities deal to construct a fast antigen check manufacturing plant in Melbourne.
In February, the state authorities introduced Lumos Diagnostics and Planet Innovation would set up a plant in Melbourne to make the assessments with help from the state’s funding fund.
RATs have been in scant provide on the time amid the nation’s first Omicron wave, and the plant was slated to supply 1,000,000 assessments month-to-month from April, three million from July and as much as 50 million assessments a yr from October.
In a press release, Lumos mentioned it had suggested the federal government it will not go forward with the plant after the corporate’s board decided it can’t commit the funding and human assets wanted to help its institution throughout the specified time frames.
“Lumos is paying shut consideration to its operational priorities and funding commitments as evidenced by the latest announcement relating to the deliberate closure our Sarasota facility,” chief government Doug Ward instructed shareholders.
“Whereas we proceed to see nice potential for establishing a diagnostics functionality in Victoria, presently Lumos must give attention to leveraging its current belongings reasonably than investing in new belongings.”
The Victorian authorities has been contacted for a response.
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