Chemeq

Chemeq (ASX: CMQ) was a publicly listed company which was listed on the Australian Stock Exchange on 25 August 1999. Chemeq was founded by Dr Graham Melrose in 1989 after he developed a new type of antimicrobial polymer. This antimicrobial polymer can replace antibiotics in the control of disease in commercial animal populations. Its only commercial plant is located in the seaside town of Rockingham, Western Australia.

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Bankruptcy

  Chemeq was sued in the Supreme Court of Western Australia by investors claiming that the company had breached the terms of the investment contract. The court found against the company and ordered it to repay the $60 million it sought. ^[1] Liquidators were called in when Chemeq's appeal against the decision was dismissed.^[2]

The fate of its intellectual property is uncertain.

References

1. ^ Chemeq has to swallow $60m bitter pill. The Age. Retrieved on 2007-06-08.
2. ^ Chemeq investors end up with chickenfeed in biotech's crash. The Australian. Retrieved on 2007-06-08.