In a twist that feels straight out of Silicon Valley déjà vu, Billy Evans—the husband of Theranos founder Elizabeth Holmes—is main a brand new well being tech startup referred to as Haemanthus.
The corporate, nonetheless working in stealth mode, is elevating each capital and issues, drawing quick comparisons to the now-infamous Theranos scandal.
Regardless of being below the radar, Haemanthus has reportedly raised over $18 million from traders, with plans to safe extra. The startup guarantees a “radically new strategy” to well being diagnostics by combining Raman spectroscopy—a light-based molecular detection approach—with synthetic intelligence. The thought is to research tiny samples of blood, sweat, or urine for early indicators of illness.
Echoes of Theranos—With a Twist?
Haemanthus markets itself as “the way forward for diagnostics,” a tagline that’s laborious to disregard given the Theranos fallout. Including to the comparisons, early prototypes of the corporate’s gadget are mentioned to resemble Theranos’ defunct Edison machine. However the workforce is keen to attract a line within the sand.
“This isn’t Theranos 2.0,” Haemanthus not too long ago posted on social platform X. The corporate says it’s not attempting to shrink down present lab assessments right into a field, as Theranos did, however is as a substitute constructing a basically completely different diagnostic system from the bottom up.
The title “Haemanthus”—a flower often known as the blood lily—is a symbolic nod to the corporate’s mission. Nonetheless, the startup’s low profile, lack of public contact info, and closed-door communication model have raised crimson flags amongst business watchers.
The Holmes Connection
Although Holmes is at the moment serving an 11-year sentence in a Texas jail for defrauding traders, she’s reportedly nonetheless concerned behind the scenes, informally advising Evans as he builds the corporate. Whereas she’s banned from main any public firm for a decade, there’s no legislation stopping her from contributing to a personal one.
That involvement is sufficient to make many within the biotech world uneasy. Tyler Shultz, a former Theranos worker and whistleblower, not too long ago wrote, “She appears to be attempting once more,” in a cautionary op-ed.
Innovation or Phantasm?
Haemanthus says it’s targeted on “human well being optimization” and even plans to check its tech on pets earlier than shifting to human diagnostics. The usage of Raman spectroscopy and AI is scientifically reputable and intriguing, however specialists are urging warning.
“There’s a purpose persons are skeptical,” mentioned Dr. Geoffrey Baird, chair of laboratory drugs on the College of Washington. “I want there have been a method to quick a inventory earlier than an organization even exists.”
Why it’s intriguing:
- Innovation potential: Haemanthus leverages Raman spectroscopy and AI, that are reputable and promising diagnostic applied sciences.
- New strategy: Not like Theranos, which miniaturized present assessments, Haemanthus claims to be constructing a basically completely different system.
Why it’s regarding:
- Theranos’ legacy: The connection to Holmes, who’s at the moment serving time for fraud, casts a protracted shadow. Public belief is fragile.
- Secrecy: The corporate’s stealth mode and lack of transparency echo early Theranos ways, elevating crimson flags.
- Investor danger: With $18 million already raised, there’s concern about whether or not due diligence is being correctly carried out.
This may very well be a real try at innovation—or a repeat of historical past. The important thing distinction will lie in transparency, scientific validation, and regulatory oversight.
Public Reactions: A Mixture of Curiosity and Cynicism
On social media, reactions have ranged from astonishment to outright mockery: “Have we realized nothing?”.
Memes evaluating Haemanthus to Theranos have gone viral, with many questioning how a undertaking with such an in depth connection to Holmes might appeal to critical funding once more.
Nonetheless, traders seem intrigued—maybe too intrigued. With $18 million already within the financial institution, critics are asking whether or not sufficient due diligence is being carried out to keep away from a repeat of previous errors.
Haemanthus, for its half, appears conscious of the uphill battle it faces. In a current submit, the corporate acknowledged: “Sure, our CEO, Billy Evans, is Elizabeth Holmes’ associate. Skepticism is rational. We should clear a better bar.”
They insist Holmes has “zero involvement” and that their strategy is “basically completely different” from Theranos.
*The Rise and Fall of Theranos
Theranos was based in 2003 by Elizabeth Holmes, who dropped out of Stanford College at age 19 with the bold purpose of revolutionizing healthcare by making blood testing sooner, cheaper, and fewer invasive. The corporate claimed it might carry out a whole lot of diagnostic assessments utilizing only a few drops of blood from a finger prick, utilizing its proprietary gadget referred to as the Edison.
Backed by influential traders and board members—together with former Secretaries of State Henry Kissinger and George Shultz—Theranos reached a peak valuation of $9 billion, and Holmes was extensively hailed as a visionary, even drawing comparisons to Steve Jobs for her black turtlenecks and branding model.
However in 2015, a sequence of investigative reviews by John Carreyrou of The Wall Avenue Journal revealed that Theranos’ know-how didn’t work as claimed. In actuality, lots of the assessments had been being carried out utilizing commercially accessible machines, not the Edison gadget, and infrequently yielded inaccurate or unreliable outcomes.
The exposé triggered investigations by federal regulators, together with the Facilities for Medicare & Medicaid Providers (CMS), the SEC, and the Division of Justice. In 2016, Theranos was banned from working a blood-testing lab, and the corporate rapidly started to unravel.
In 2018, Holmes and former Theranos president and COO Ramesh “Sunny” Balwani had been charged with a number of counts of wire fraud and conspiracy to commit wire fraud. That very same 12 months, Theranos was formally dissolved.
In January 2022, after a prolonged trial, Holmes was discovered responsible on 4 counts of fraud and conspiracy associated to defrauding traders. She was sentenced to 11 years and three months in federal jail and started serving her sentence in Could 2023 at a minimum-security facility in Texas.
In a twist that feels straight out of Silicon Valley déjà vu, Billy Evans—the husband of Theranos founder Elizabeth Holmes—is main a brand new well being tech startup referred to as Haemanthus.
The corporate, nonetheless working in stealth mode, is elevating each capital and issues, drawing quick comparisons to the now-infamous Theranos scandal.
Regardless of being below the radar, Haemanthus has reportedly raised over $18 million from traders, with plans to safe extra. The startup guarantees a “radically new strategy” to well being diagnostics by combining Raman spectroscopy—a light-based molecular detection approach—with synthetic intelligence. The thought is to research tiny samples of blood, sweat, or urine for early indicators of illness.
Echoes of Theranos—With a Twist?
Haemanthus markets itself as “the way forward for diagnostics,” a tagline that’s laborious to disregard given the Theranos fallout. Including to the comparisons, early prototypes of the corporate’s gadget are mentioned to resemble Theranos’ defunct Edison machine. However the workforce is keen to attract a line within the sand.
“This isn’t Theranos 2.0,” Haemanthus not too long ago posted on social platform X. The corporate says it’s not attempting to shrink down present lab assessments right into a field, as Theranos did, however is as a substitute constructing a basically completely different diagnostic system from the bottom up.
The title “Haemanthus”—a flower often known as the blood lily—is a symbolic nod to the corporate’s mission. Nonetheless, the startup’s low profile, lack of public contact info, and closed-door communication model have raised crimson flags amongst business watchers.
The Holmes Connection
Although Holmes is at the moment serving an 11-year sentence in a Texas jail for defrauding traders, she’s reportedly nonetheless concerned behind the scenes, informally advising Evans as he builds the corporate. Whereas she’s banned from main any public firm for a decade, there’s no legislation stopping her from contributing to a personal one.
That involvement is sufficient to make many within the biotech world uneasy. Tyler Shultz, a former Theranos worker and whistleblower, not too long ago wrote, “She appears to be attempting once more,” in a cautionary op-ed.
Innovation or Phantasm?
Haemanthus says it’s targeted on “human well being optimization” and even plans to check its tech on pets earlier than shifting to human diagnostics. The usage of Raman spectroscopy and AI is scientifically reputable and intriguing, however specialists are urging warning.
“There’s a purpose persons are skeptical,” mentioned Dr. Geoffrey Baird, chair of laboratory drugs on the College of Washington. “I want there have been a method to quick a inventory earlier than an organization even exists.”
Why it’s intriguing:
- Innovation potential: Haemanthus leverages Raman spectroscopy and AI, that are reputable and promising diagnostic applied sciences.
- New strategy: Not like Theranos, which miniaturized present assessments, Haemanthus claims to be constructing a basically completely different system.
Why it’s regarding:
- Theranos’ legacy: The connection to Holmes, who’s at the moment serving time for fraud, casts a protracted shadow. Public belief is fragile.
- Secrecy: The corporate’s stealth mode and lack of transparency echo early Theranos ways, elevating crimson flags.
- Investor danger: With $18 million already raised, there’s concern about whether or not due diligence is being correctly carried out.
This may very well be a real try at innovation—or a repeat of historical past. The important thing distinction will lie in transparency, scientific validation, and regulatory oversight.
Public Reactions: A Mixture of Curiosity and Cynicism
On social media, reactions have ranged from astonishment to outright mockery: “Have we realized nothing?”.
Memes evaluating Haemanthus to Theranos have gone viral, with many questioning how a undertaking with such an in depth connection to Holmes might appeal to critical funding once more.
Nonetheless, traders seem intrigued—maybe too intrigued. With $18 million already within the financial institution, critics are asking whether or not sufficient due diligence is being carried out to keep away from a repeat of previous errors.
Haemanthus, for its half, appears conscious of the uphill battle it faces. In a current submit, the corporate acknowledged: “Sure, our CEO, Billy Evans, is Elizabeth Holmes’ associate. Skepticism is rational. We should clear a better bar.”
They insist Holmes has “zero involvement” and that their strategy is “basically completely different” from Theranos.
*The Rise and Fall of Theranos
Theranos was based in 2003 by Elizabeth Holmes, who dropped out of Stanford College at age 19 with the bold purpose of revolutionizing healthcare by making blood testing sooner, cheaper, and fewer invasive. The corporate claimed it might carry out a whole lot of diagnostic assessments utilizing only a few drops of blood from a finger prick, utilizing its proprietary gadget referred to as the Edison.
Backed by influential traders and board members—together with former Secretaries of State Henry Kissinger and George Shultz—Theranos reached a peak valuation of $9 billion, and Holmes was extensively hailed as a visionary, even drawing comparisons to Steve Jobs for her black turtlenecks and branding model.
However in 2015, a sequence of investigative reviews by John Carreyrou of The Wall Avenue Journal revealed that Theranos’ know-how didn’t work as claimed. In actuality, lots of the assessments had been being carried out utilizing commercially accessible machines, not the Edison gadget, and infrequently yielded inaccurate or unreliable outcomes.
The exposé triggered investigations by federal regulators, together with the Facilities for Medicare & Medicaid Providers (CMS), the SEC, and the Division of Justice. In 2016, Theranos was banned from working a blood-testing lab, and the corporate rapidly started to unravel.
In 2018, Holmes and former Theranos president and COO Ramesh “Sunny” Balwani had been charged with a number of counts of wire fraud and conspiracy to commit wire fraud. That very same 12 months, Theranos was formally dissolved.
In January 2022, after a prolonged trial, Holmes was discovered responsible on 4 counts of fraud and conspiracy associated to defrauding traders. She was sentenced to 11 years and three months in federal jail and started serving her sentence in Could 2023 at a minimum-security facility in Texas.
In a twist that feels straight out of Silicon Valley déjà vu, Billy Evans—the husband of Theranos founder Elizabeth Holmes—is main a brand new well being tech startup referred to as Haemanthus.
The corporate, nonetheless working in stealth mode, is elevating each capital and issues, drawing quick comparisons to the now-infamous Theranos scandal.
Regardless of being below the radar, Haemanthus has reportedly raised over $18 million from traders, with plans to safe extra. The startup guarantees a “radically new strategy” to well being diagnostics by combining Raman spectroscopy—a light-based molecular detection approach—with synthetic intelligence. The thought is to research tiny samples of blood, sweat, or urine for early indicators of illness.
Echoes of Theranos—With a Twist?
Haemanthus markets itself as “the way forward for diagnostics,” a tagline that’s laborious to disregard given the Theranos fallout. Including to the comparisons, early prototypes of the corporate’s gadget are mentioned to resemble Theranos’ defunct Edison machine. However the workforce is keen to attract a line within the sand.
“This isn’t Theranos 2.0,” Haemanthus not too long ago posted on social platform X. The corporate says it’s not attempting to shrink down present lab assessments right into a field, as Theranos did, however is as a substitute constructing a basically completely different diagnostic system from the bottom up.
The title “Haemanthus”—a flower often known as the blood lily—is a symbolic nod to the corporate’s mission. Nonetheless, the startup’s low profile, lack of public contact info, and closed-door communication model have raised crimson flags amongst business watchers.
The Holmes Connection
Although Holmes is at the moment serving an 11-year sentence in a Texas jail for defrauding traders, she’s reportedly nonetheless concerned behind the scenes, informally advising Evans as he builds the corporate. Whereas she’s banned from main any public firm for a decade, there’s no legislation stopping her from contributing to a personal one.
That involvement is sufficient to make many within the biotech world uneasy. Tyler Shultz, a former Theranos worker and whistleblower, not too long ago wrote, “She appears to be attempting once more,” in a cautionary op-ed.
Innovation or Phantasm?
Haemanthus says it’s targeted on “human well being optimization” and even plans to check its tech on pets earlier than shifting to human diagnostics. The usage of Raman spectroscopy and AI is scientifically reputable and intriguing, however specialists are urging warning.
“There’s a purpose persons are skeptical,” mentioned Dr. Geoffrey Baird, chair of laboratory drugs on the College of Washington. “I want there have been a method to quick a inventory earlier than an organization even exists.”
Why it’s intriguing:
- Innovation potential: Haemanthus leverages Raman spectroscopy and AI, that are reputable and promising diagnostic applied sciences.
- New strategy: Not like Theranos, which miniaturized present assessments, Haemanthus claims to be constructing a basically completely different system.
Why it’s regarding:
- Theranos’ legacy: The connection to Holmes, who’s at the moment serving time for fraud, casts a protracted shadow. Public belief is fragile.
- Secrecy: The corporate’s stealth mode and lack of transparency echo early Theranos ways, elevating crimson flags.
- Investor danger: With $18 million already raised, there’s concern about whether or not due diligence is being correctly carried out.
This may very well be a real try at innovation—or a repeat of historical past. The important thing distinction will lie in transparency, scientific validation, and regulatory oversight.
Public Reactions: A Mixture of Curiosity and Cynicism
On social media, reactions have ranged from astonishment to outright mockery: “Have we realized nothing?”.
Memes evaluating Haemanthus to Theranos have gone viral, with many questioning how a undertaking with such an in depth connection to Holmes might appeal to critical funding once more.
Nonetheless, traders seem intrigued—maybe too intrigued. With $18 million already within the financial institution, critics are asking whether or not sufficient due diligence is being carried out to keep away from a repeat of previous errors.
Haemanthus, for its half, appears conscious of the uphill battle it faces. In a current submit, the corporate acknowledged: “Sure, our CEO, Billy Evans, is Elizabeth Holmes’ associate. Skepticism is rational. We should clear a better bar.”
They insist Holmes has “zero involvement” and that their strategy is “basically completely different” from Theranos.
*The Rise and Fall of Theranos
Theranos was based in 2003 by Elizabeth Holmes, who dropped out of Stanford College at age 19 with the bold purpose of revolutionizing healthcare by making blood testing sooner, cheaper, and fewer invasive. The corporate claimed it might carry out a whole lot of diagnostic assessments utilizing only a few drops of blood from a finger prick, utilizing its proprietary gadget referred to as the Edison.
Backed by influential traders and board members—together with former Secretaries of State Henry Kissinger and George Shultz—Theranos reached a peak valuation of $9 billion, and Holmes was extensively hailed as a visionary, even drawing comparisons to Steve Jobs for her black turtlenecks and branding model.
However in 2015, a sequence of investigative reviews by John Carreyrou of The Wall Avenue Journal revealed that Theranos’ know-how didn’t work as claimed. In actuality, lots of the assessments had been being carried out utilizing commercially accessible machines, not the Edison gadget, and infrequently yielded inaccurate or unreliable outcomes.
The exposé triggered investigations by federal regulators, together with the Facilities for Medicare & Medicaid Providers (CMS), the SEC, and the Division of Justice. In 2016, Theranos was banned from working a blood-testing lab, and the corporate rapidly started to unravel.
In 2018, Holmes and former Theranos president and COO Ramesh “Sunny” Balwani had been charged with a number of counts of wire fraud and conspiracy to commit wire fraud. That very same 12 months, Theranos was formally dissolved.
In January 2022, after a prolonged trial, Holmes was discovered responsible on 4 counts of fraud and conspiracy associated to defrauding traders. She was sentenced to 11 years and three months in federal jail and started serving her sentence in Could 2023 at a minimum-security facility in Texas.
In a twist that feels straight out of Silicon Valley déjà vu, Billy Evans—the husband of Theranos founder Elizabeth Holmes—is main a brand new well being tech startup referred to as Haemanthus.
The corporate, nonetheless working in stealth mode, is elevating each capital and issues, drawing quick comparisons to the now-infamous Theranos scandal.
Regardless of being below the radar, Haemanthus has reportedly raised over $18 million from traders, with plans to safe extra. The startup guarantees a “radically new strategy” to well being diagnostics by combining Raman spectroscopy—a light-based molecular detection approach—with synthetic intelligence. The thought is to research tiny samples of blood, sweat, or urine for early indicators of illness.
Echoes of Theranos—With a Twist?
Haemanthus markets itself as “the way forward for diagnostics,” a tagline that’s laborious to disregard given the Theranos fallout. Including to the comparisons, early prototypes of the corporate’s gadget are mentioned to resemble Theranos’ defunct Edison machine. However the workforce is keen to attract a line within the sand.
“This isn’t Theranos 2.0,” Haemanthus not too long ago posted on social platform X. The corporate says it’s not attempting to shrink down present lab assessments right into a field, as Theranos did, however is as a substitute constructing a basically completely different diagnostic system from the bottom up.
The title “Haemanthus”—a flower often known as the blood lily—is a symbolic nod to the corporate’s mission. Nonetheless, the startup’s low profile, lack of public contact info, and closed-door communication model have raised crimson flags amongst business watchers.
The Holmes Connection
Although Holmes is at the moment serving an 11-year sentence in a Texas jail for defrauding traders, she’s reportedly nonetheless concerned behind the scenes, informally advising Evans as he builds the corporate. Whereas she’s banned from main any public firm for a decade, there’s no legislation stopping her from contributing to a personal one.
That involvement is sufficient to make many within the biotech world uneasy. Tyler Shultz, a former Theranos worker and whistleblower, not too long ago wrote, “She appears to be attempting once more,” in a cautionary op-ed.
Innovation or Phantasm?
Haemanthus says it’s targeted on “human well being optimization” and even plans to check its tech on pets earlier than shifting to human diagnostics. The usage of Raman spectroscopy and AI is scientifically reputable and intriguing, however specialists are urging warning.
“There’s a purpose persons are skeptical,” mentioned Dr. Geoffrey Baird, chair of laboratory drugs on the College of Washington. “I want there have been a method to quick a inventory earlier than an organization even exists.”
Why it’s intriguing:
- Innovation potential: Haemanthus leverages Raman spectroscopy and AI, that are reputable and promising diagnostic applied sciences.
- New strategy: Not like Theranos, which miniaturized present assessments, Haemanthus claims to be constructing a basically completely different system.
Why it’s regarding:
- Theranos’ legacy: The connection to Holmes, who’s at the moment serving time for fraud, casts a protracted shadow. Public belief is fragile.
- Secrecy: The corporate’s stealth mode and lack of transparency echo early Theranos ways, elevating crimson flags.
- Investor danger: With $18 million already raised, there’s concern about whether or not due diligence is being correctly carried out.
This may very well be a real try at innovation—or a repeat of historical past. The important thing distinction will lie in transparency, scientific validation, and regulatory oversight.
Public Reactions: A Mixture of Curiosity and Cynicism
On social media, reactions have ranged from astonishment to outright mockery: “Have we realized nothing?”.
Memes evaluating Haemanthus to Theranos have gone viral, with many questioning how a undertaking with such an in depth connection to Holmes might appeal to critical funding once more.
Nonetheless, traders seem intrigued—maybe too intrigued. With $18 million already within the financial institution, critics are asking whether or not sufficient due diligence is being carried out to keep away from a repeat of previous errors.
Haemanthus, for its half, appears conscious of the uphill battle it faces. In a current submit, the corporate acknowledged: “Sure, our CEO, Billy Evans, is Elizabeth Holmes’ associate. Skepticism is rational. We should clear a better bar.”
They insist Holmes has “zero involvement” and that their strategy is “basically completely different” from Theranos.
*The Rise and Fall of Theranos
Theranos was based in 2003 by Elizabeth Holmes, who dropped out of Stanford College at age 19 with the bold purpose of revolutionizing healthcare by making blood testing sooner, cheaper, and fewer invasive. The corporate claimed it might carry out a whole lot of diagnostic assessments utilizing only a few drops of blood from a finger prick, utilizing its proprietary gadget referred to as the Edison.
Backed by influential traders and board members—together with former Secretaries of State Henry Kissinger and George Shultz—Theranos reached a peak valuation of $9 billion, and Holmes was extensively hailed as a visionary, even drawing comparisons to Steve Jobs for her black turtlenecks and branding model.
However in 2015, a sequence of investigative reviews by John Carreyrou of The Wall Avenue Journal revealed that Theranos’ know-how didn’t work as claimed. In actuality, lots of the assessments had been being carried out utilizing commercially accessible machines, not the Edison gadget, and infrequently yielded inaccurate or unreliable outcomes.
The exposé triggered investigations by federal regulators, together with the Facilities for Medicare & Medicaid Providers (CMS), the SEC, and the Division of Justice. In 2016, Theranos was banned from working a blood-testing lab, and the corporate rapidly started to unravel.
In 2018, Holmes and former Theranos president and COO Ramesh “Sunny” Balwani had been charged with a number of counts of wire fraud and conspiracy to commit wire fraud. That very same 12 months, Theranos was formally dissolved.
In January 2022, after a prolonged trial, Holmes was discovered responsible on 4 counts of fraud and conspiracy associated to defrauding traders. She was sentenced to 11 years and three months in federal jail and started serving her sentence in Could 2023 at a minimum-security facility in Texas.
