The board of Botry Zen, which was placed in receivership in late December, will resign this morning, saying they have no further role in the company's future.
In a statement to the New Zealand Stock Exchange, the board said.
"There are, regrettably, unlikely to be assets remaining once the receivers have completed their function and resigned, so the directors consider there is no longer a role for the directors to play in the company's future."
Dunedin accountant Stephen Higgs was chairman of the company which makes biological agents to control the grape wasting disease, Botrytis cinerea.
Botry Zen was placed in receivership on December 23 after shareholders refused for the second time in 15 months to inject new capital into the struggling biotechnology company.
Receiver Matt Taylor, of WHK, previously said he hoped to sell the company as a going concern and has had interest from buyers from within New Zealand and overseas.
The company's future was not known last night.
