Melbourne closes

Biota will close it's Melbourne research and administrative base.

There's a couple of issues.

1. I wrote this in a distant entry on this site:

"There are 44 million dollars in tax credits in Australia and 23 million in UK. I am not an accountant, but that's 67 million in value gifted by Australian shareholders into the merger. It's not clear how that can be monetised. Biota should have found a way to pass that benefit to Australian shareholders before the merger. If those credits are lost, it represents further incompetence around the merger."

I wonder what happens to those tax credits.


2. The previous Board and executive officers played Pied Piper to this outcome. I feel very, very sad for Biota employees, both the current and the potential future employees.