Elizabeth Holmes, the founder of the disgraced Theranos, may have fallen from grace, but her partner, Billy Evans, is charting a new course with a blood-testing startup, Haemanthus. With millions in investment, Evans aims to deliver a technology similar to the one Holmes claimed to develop at Theranos, but this time focusing on health diagnostics from blood, urine, and saliva. However, Evans’s new company raises its concerns, with echoes of the past haunting its mission.
What’s Happening & Why This Matters
Billy Evans, heir to a hotel fortune, has raised nearly $20 million in a bid to launch Haemanthus. This health-testing company promises to diagnose illnesses based on small biological samples. The startup, similar in concept to Theranos, aims to use lasers to scan biological samples such as blood, saliva, and urine for diagnostic purposes. However, while Evans, who Holmes reportedly advises, has raised interest from a small group of investors, the company faces scrutiny. Many have already passed on the pitch, wary of the technology’s credibility. Notably, Haemanthus plans to start animal testing before human trials. However, it faces skepticism due to its ties to Theranos, whose unfulfilled promises led to fraud charges for Holmes.
Despite Theranos’s failed promises, Evans is pursuing the same idea. With Haemanthus aiming to create small, wearable devices for human diagnostics, this new venture faces an uphill battle to separate itself from the shadows of its predecessor. The potential for another scam undermines the legitimacy of innovative healthcare solutions, especially in blood diagnostics.
TF Summary: What’s Next
Haemanthus plans to make progress by conducting animal trials and testing on humans. The company also plans to create the envisioned wearable device for human use. However, the company has to work hard to prove its tech’s legitimacy and distance itself from the Theranos disaster.
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