San Francisco, California — Billy Evans, the partner of Theranos founder Elizabeth Holmes, is venturing into the health technology arena with a new startup called Haemanthus. The company aims to revolutionize health optimization through advanced blood testing methods, as reported by the New York Times.
Haemanthus is reportedly designing a machine that employs laser technology to analyze various biological samples, including blood, saliva, and urine. The startup plans to initially focus on veterinary health, with aspirations to eventually expand its services to humans. It aims to secure over $50 million in funding to bring its innovative health solutions to market.
The concept for Haemanthus bears a striking resemblance to the now-infamous Theranos pitch, which claimed to perform numerous medical tests using just a few drops of blood. Holmes, who shares two children with Evans, was sentenced to 11 years in prison in 2022 for deceiving investors about her company’s capabilities. Despite her legal troubles, she recently expressed her unwavering passion for making healthcare accessible and affordable for all.
Investors have been cautious regarding Evans’ new venture. Jim Breyer, an early investor in Facebook, shared that his team was approached to invest in Haemanthus but ultimately decided against it, citing concerns that mirrored those they had with Theranos.
The startup landscape in healthcare is highly competitive and fraught with challenges. The fallout from Theranos has led many potential investors to take a more scrutinizing approach toward startups in this sector. With this in mind, Evans and his team will need to build substantial credibility to win over skeptics.
As Haemanthus seeks to innovate in health monitoring and disease detection, it will likely face increased scrutiny from both the public and the investment community. The emphasis on transparency and scientific validation will be crucial as the company navigates its early stages.
While the concept of utilizing cutting-edge technology to enhance health outcomes is promising, the painful lessons learned from Theranos linger in the minds of many investors. Haemanthus’ path forward will require not just ambitious goals but also a commitment to ethical practices and truthful marketing.