April 5, 2021
Spartan Bioscience Inc., a Nepean, Ontario-based biotechnology company that developed a rapid COVID-19 testing device, filed an NOI on April 5, listing approximately $73.0 million in liabilities. The company filed for insolvency protection after finding an undisclosed problem with the technology and pausing shipments of its COVID-19 testing cube. The company is laying off 60 employees (around 70% of its workforce) and working to restructure and refine the performance of the COVID-19 test in the field. EY is the proposal trustee.