Chemeq
Encyclopedia
Chemeq 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 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
.
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. Liquidators were called in when Chemeq's appeal against the decision was dismissed.
Its intellectual Property (patents, know how and trade secrets) has been folded into a subsidiary called Chemeq Technology Pty Ltd (CTPL). CTPL was launched on 15 March 2008 with the objective of developing commercial collaborations and to allow exploitation of the IP through exclusive liceses in a number of areas; including animal health, human health and industrial uses.
The Administrators, KordaMentha, in a report dated 5 December 2007, indicated that investigations into potential offences under section 438D of the Corporations Act 2001 had identified four (4) areas where further investigation were warranted. A supplementary report dated 12 May mentioned that a confidential report had been lodged with the Australian Securities and Investigations Commission (ASIC) under section 438D of the Act. The report is not available to creditors or shareholders and will be used by ASIC to determine whether any future action is to be taken against the Company and/or its directors.
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
on 25 August 1999. Chemeq was founded by Dr Graham Melrose in 1989 after he developed a new type of antimicrobial polymer. This 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
Rockingham
-People:* Marquess of Rockingham, a British title of nobility whose holders included:** Charles Watson-Wentworth, 2nd Marquess of Rockingham, who was the eighth Prime Minister of the United Kingdom* Cllr...
, Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
.
Chemeq was sued in the Supreme Court of Western Australia
Supreme Court of Western Australia
The Supreme Court of Western Australia is the highest state court in the Australian State of Western Australia. It has unlimited jurisdiction within the state in civil matters , and hears the most serious criminal matters.The Supreme Court consists of a General Division The Supreme Court of Western...
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. Liquidators were called in when Chemeq's appeal against the decision was dismissed.
Its intellectual Property (patents, know how and trade secrets) has been folded into a subsidiary called Chemeq Technology Pty Ltd (CTPL). CTPL was launched on 15 March 2008 with the objective of developing commercial collaborations and to allow exploitation of the IP through exclusive liceses in a number of areas; including animal health, human health and industrial uses.
The Administrators, KordaMentha, in a report dated 5 December 2007, indicated that investigations into potential offences under section 438D of the Corporations Act 2001 had identified four (4) areas where further investigation were warranted. A supplementary report dated 12 May mentioned that a confidential report had been lodged with the Australian Securities and Investigations Commission (ASIC) under section 438D of the Act. The report is not available to creditors or shareholders and will be used by ASIC to determine whether any future action is to be taken against the Company and/or its directors.