Failed to read the fine print – lost his life’s work
A celebrated CEO and co-founder of a pioneering lab company one moment – the next, fired, kicked out and written out of the company’s history. This is the story of a Swedish entrepreneur who was going to raise US venture capital to strengthen his company but lost his life’s work instead.
In June last year, many eyebrows were raised when it was announced that Mikael Kubista, co-founder and principal owner of Tataa Biocenter, suddenly left his post without further explanation. A lawsuit filed with the Gothenburg District Court provides a glimpse of the events, and it’s not pretty.
At the time of his exit, Mikael Kubista wrote on LinkedIn that he was sad to leave his company after 22 years, but that “time flies and the world changes. When we accepted investments to switch to regulated bioanalysis, we recognised that we needed to change the way the old Tataa worked”. He finally concluded by wishing the new management good luck.