Deep tech startup Helico Bio has been placed into liquidation after its research, which aimed to produce therapeutic compounds from plants, “did not achieve the expected results”.
The Auckland-based company Rau Bio Limited, which traded as Helico Bio, had received funding from government agency Callaghan Innovation and venture capital firm Icehouse Ventures. A company associated with the latter holds 14.17 percent of Helico’s shares.
The liquidators’ first report shows it was placed into liquidation by special resolution of its shareholders on December 19.
Thomas Furlong, venture partner at Icehouse Ventures, is listed as a director along with Harley Williams.
Williams is the largest shareholder with…