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Barely two months after its rapid COVID-19 test got the green light from Health Canada, Ottawa’s Spartan Bioscience says it is filing for creditor protection and cutting two-thirds of its workforce in the wake of a “higher-than-expected level of inconclusive results” from the device. In a statement to OBJ on Tuesday, the company said it is laying off 61 of its roughly 90 employees and restructuring its operations as it works to “refine the performance of its COVID-19 test in the field.” Spartan said it has “made the difficult but necessary decision” to stop shipping the product, which had already received tens of millions of dollars’ worth of orders from various governments and private-sector customers across Canada. ....
Posted: Apr 06, 2021 2:17 PM ET | Last Updated: April 6 Spartan Bioscience, based in Ottawa, developed this portable rapid testing device for COVID-19. The company announced Tuesday that it has filed for creditor protection after discovering a problem with the technology. (Spartan Bioscience) An Ottawa-based company that developed a rapid COVID-19 testing device says it has filed for creditor protection after finding an undisclosed problem with the technology. Spartan Bioscience s interim CEO Jennifer Ross-Carriere said through a spokesperson Tuesday that the company has paused shipments of its COVID-19 testing cube while it works to resolve the recently-identified issue. As a result of this pause in shipment, Spartan is seeking protection from creditors working to restructure the company and refine the performance of the COVID-19 test in the field, said the statement from Ross-Carriere. ....
TORONTO An Ottawa-based biotech company, Spartan Bioscience Inc., is filing for creditor protection and temporarily laying off staff following concerns about the consistency of the company’s rapid COVID-19 tests. Spartan told CTV News on Tuesday that about 60 of its 90 employees and a number of students and interns would be laid off as the company deals with the issue. The “performance-related” issues the company started seeing after the rapid test was launched last year, coupled with a lack of resources that larger biotech companies have, “has left us in a position where we have a strain on our cash,” Spartan interim Chief Executive Officer Jennifer Ross-Carriere said in an interview. ....
Spartan Bioscience files for creditor protection after issue with COVID-19 rapid test by The Canadian Press Last Updated Apr 6, 2021 at 1:58 pm EDT OTTAWA The Canadian maker of a rapid COVID-19 test has filed for creditor protection after pausing shipments of the product due to a recently identified issue with the system. Spartan Bioscience Inc. says the problem is not a safety issue. The Ottawa-based company says it’s seeking protection from creditors while it restructures its operations and refines the test’s performance. Spartan says it’s laying off 60 employees, or around 70 per cent of its workforce. Despite the challenges, Spartan says it remains committed to mobile DNA-testing technology in the fight against COVID-19. ....
Spartan laying off 75% of staff amid COVID test inconsistencies bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.