Why biomedical startups Fail. The case of Ambrilia Biopharma

Document from the year 2016 in the subject Medicine - Biomedical Engineering, grade: A, Kenyatta University (Kenyatta University), course: BSC, language: English, abstract: This report is about why Ambrilia Biopharma, one of the biotechnology startups in recent times failed as a company. The report examines the underlying issues that forced the company's management to file for bankruptcy and close business despite the milestones it had made in the 13 years it had been in operation. To arrive at the conclusion, the report starts by examining the historical background of the company and its management over the years it has been in existence. Established in the year 1998, Ambrilia Biopharma has been operating in the biochemical industry up to April of 2011 when its management filed for bankruptcy. The firm was founded in Canada, with its headquarters in Montreal and branches spread in parts of the world. Ambrilia Biopharm specialized in the discovery and production of novel treatments for cancer and other viral diseases. Considering the increasing statistics of many new ventures, especially in the biomedical industry, failing to grow to become established as successful companies, a number of reasons have been cited for the reason why many biomedical startups fail. The reasons range poor leadership and management, funding issues, limited knowledge about the market, poor market penetration, business model problems, competition from established ventures, to lack of value prepositions, among other pertinent reasons. There are also reasons specific to biochemical industry such as miscommunication, cutting corners, dishonesty, and procrastination.