Acura Bio - Voluntary Administration

Acura Bio, a Brisbane-based biopharmaceutical contract manufacturer, entered voluntary administration on 13 July. Formerly known as Luina Bio, the company was acquired last year by biotech investor Dr. Glenn Haifer and US private equity group Ampersand Capital Partners, who at the time indicated that they would invest further in the company with a focus on increasing its production facility capacity. Anthony Connelly, Jamie Harris and Mark Holland of McGrathNichol were appointed joint administrators and have commenced a wind-down of the company’s operations. The appointment was referred to McGrathNichol by Deloitte, who had a relationship with the company and recommended three firms in relation to a potential insolvency appointment.