Bio start ups - histogen, follica, Aderans, replicel etc scams?

[yeahyeahyeah]

Aderans have had 10 years worth of investment, and despite that they could not release a product.

This raises eyebrows, why would a company that has heavily invested on something that can earn billions pull out without second thoughts?

Talk about cutting your losses.

Surely if they were growing hair, any tom, dick and harry can see it has the potential to make a return of investment.

Which brings me to the point:

Is it because -

1) Aderans had below/par mediocre results at best?

and is this now reflected by the fact that all of these companies have trouble getting investors.

Did Ken bend the truth to Spencer on his show?

So here is the question to you guys. Do you think these bio start ups are all scams, run by charlatans who after obtaining the investors money pocket most of it. After which they simply drift into the sunset once the investor(s) have clocked on they are full of it?

I can't help but think ken washenik is a charlatan; even if he had unlimited funds he probably would never get the product to a releasable state.

As for the other companies, I don't feel optimistic. Before Aderans you had Intercytex.

Thoughts.