Elizabeth Holmes’ Partner Reportedly Fundraising for New Blood-Testing Startup
Billy Evans, the partner of disgraced Theranos founder Elizabeth Holmes, is reportedly seeking funding for a new blood-testing startup. This venture comes after Holmes’ conviction on fraud charges related to her previous company, Theranos, which promised revolutionary blood-testing technology that never materialized. According to sources cited by the Wall Street Journal, Evans has been quietly reaching out to potential investors.
The New Venture
Billy Evans, the partner of convicted Theranos founder Elizabeth Holmes, has launched a new blood-testing startup named Haemanthus. The company aims to develop diagnostic technology that utilizes artificial intelligence and light-based methods, specifically Raman spectroscopy, to analyze small samples of biological fluids such as blood, saliva, urine, and sweat NPR.NBC Bay Area+12Business Insider+12The Daily Beast+12New York Post
Haemanthus has reportedly raised nearly $20 million in funding, primarily from investors in Austin and San Francisco . The startup plans to initially focus on veterinary applications before expanding into human diagnostics, a strategy that may help navigate regulatory hurdles and build credibility for the technology’s efficacy and safety .The Guardian+2The Daily Beast+2Entrepreneur+2Perplexity AI
Despite the company’s assertions that Elizabeth Holmes has “zero involvement” in Haemanthus, multiple reports suggest that she may be advising Evans from prison . This connection, along with the similarities between Haemanthus‘s goals and those of Theranos, has led to skepticism among investors and the public. Some major backers, including James Breyer and Michael Dell’s venture capital firm, have declined to invest .NPR+4Entrepreneur+4New York Post+4The Daily Beast
Haemanthus has emphasized its commitment to transparency and innovation, stating on social media that it is “not Theranos 2.0″ and that the science will “stand on its own merits” . The company has also offered media outlets access to its lab and prototype to demonstrate its technology .Yahoo+9NPR+9Fast Company+9New York Post
As Haemanthus continues to develop its technology and seek additional funding, it remains to be seen whether the startup can overcome the shadow of Theranos and establish itself as a credible player in the diagnostics industry.
Billy Evans Launches Haemanthus Amid Theranos Comparisons
Wait, Elizabeth Holmes’s Partner Has a Blood-Testing Start-up?
TodayThe GuardianElizabeth Holmes’s partner reportedly raises millions for blood-testing startupYesterdayNew York PostTheranos felon Elizabeth Holmes advising baby-daddy on new blood-testing startup from behind bars: reportYesterday.
Investor Sentiment
The Theranos debacle has left a lasting scar on the blood-testing industry. Many investors are wary of pouring money into similar ventures without significant due diligence and demonstrable technological breakthroughs. The negative publicity surrounding Theranos serves as a constant reminder of the risks involved. Some investors express concern about the reputational risk associated with Evans, as reported by Business Insider.
Challenges and Opportunities
Billy Evans, partner of convicted Theranos founder Elizabeth Holmes, is navigating a challenging landscape as he seeks funding for his new blood-testing startup, Haemanthus. Despite raising nearly $20 million from friends, family, and early supporters, Evans faces skepticism from major investors due to his association with Holmes and the Theranos scandal.
Haemanthus aims to revolutionize health diagnostics by developing a device that uses Raman spectroscopy—a light-based technique—to analyze small samples of blood, saliva, urine, or sweat. The company plans to begin with veterinary applications before expanding into human diagnostics. Startup DailyTechCrunch
To differentiate Haemanthus from Theranos and gain investor confidence, Evans must:
- Demonstrate Technological Viability: Provide transparent, peer-reviewed evidence of the device’s accuracy and reliability.
- Establish Ethical Practices: Ensure compliance with regulatory standards and maintain open communication about the company’s operations and progress.
- Develop a Sound Business Model: Present a clear plan for market entry, scalability, and profitability, starting with the veterinary sector to mitigate regulatory hurdles.
The blood-testing market holds significant potential for companies that can deliver accurate, reliable, and affordable solutions. However, overcoming the shadow of Theranos requires Haemanthus to build trust through transparency, scientific validation, and ethical business practices.
For more information on Haemanthus and its approach, you can read the full article here: HERE Northville
