New Startup Emerges from Theranos Founder’s Partner
Introduction to Haemanthus
Billy Evans, the partner of Elizabeth Holmes, the founder of Theranos, is working on a new startup called Haemanthus. According to The New York Times, Haemanthus aims to deliver "human health optimization" through blood testing. The company has already begun pitching its idea to investors, with two investors confirming that they were approached and provided with marketing materials.
How Haemanthus Plans to Work
The marketing materials viewed by The New York Times reveal that Haemanthus has developed a machine that uses lasers to analyze blood, saliva, and urine samples. This technology is intended to detect cancer and infections. Initially, the company plans to focus on pet health before expanding its services to humans. Haemanthus is seeking to raise more than $50 million in funding to support its operations.
Similarities with Theranos
The pitch made by Haemanthus bears a striking resemblance to that of Theranos, which promised to conduct a variety of medical tests using tiny amounts of blood drawn from pricked fingers. However, Theranos was embroiled in controversy, and in 2022, Elizabeth Holmes was sentenced to 11 years in prison for defrauding investors. Despite this, Holmes remains committed to her vision of making affordable healthcare solutions available to everyone.
Investor Reaction
Some investors are approaching Haemanthus with caution, given its similarities to Theranos. Jim Breyer, an early Facebook investor, told The New York Times that his team was asked to invest in Haemanthus but declined, citing the same reasons they had passed on Theranos twice before.
Conclusion
The emergence of Haemanthus has raised eyebrows, given its connection to Theranos and the similarities in their pitches. While the idea of using blood testing to detect cancer and infections is promising, the company will need to work hard to establish its credibility and differentiate itself from its predecessor. As Haemanthus moves forward, it will be interesting to see how it navigates the challenges ahead and whether it can succeed where Theranos failed.
