Latest news with #bloodtesting
Fast Company
12-05-2025
- Business
- Fast Company
Everything we know about Haemanthus, the blood-testing startup from Elizabeth Holmes's partner
Billy Evans, the partner of Theranos founder Elizabeth Holmes, is currently in the process of raising money for his own startup. It's a blood-testing company. According to reports from NPR and The New York Times, both of which spoke with anonymous sources close to the venture, 33-year-old Evans has already raised several million dollars for a new 'stealth' startup focusing on diagnostics and health testing. Prior to this news, Evans first came into the public eye back in 2018 when he began dating Holmes, who is currently serving out an 11-year federal prison sentence for committing fraud through her infamous blood-testing company Theranos. Over the weekend, Evans's startup Haemanthus spoke out on X to reassure investors and potential future customers that it's not 'Theranos 2.0.' The company has no apparent contact information, and the direct messages on its X account are closed. Fast Company was unable to reach the company for further comment. Here's everything we know about the company so far. What is Haemanthus? Based on information provided to NPR, Haemanthus is a diagnostics company that's planning to build a tool that can scan biological material like blood, sweat, and urine to identify potential diseases. The name 'Haemanthus' itself appears to be an allusion to a flower of the same name, colloquially termed the 'blood lily.' To many readers, that whole premise might sound strikingly similar to the story behind Theranos, which promised to dole out accurate diagnoses using a single drop of blood, before it ultimately started falling apart. However, Haemanthus took to X this Sunday to clarify that its tech is not an extension of Theranos. The post starts by acknowledging Evans's relationship with Holmes and adding that 'Skepticism is rational,' before categorically denying any connection to Holmes's failed blood-testing company. 'This is not Theranos 2.0,' the post reads. 'Theranos attempted to miniaturize existing tests. Our approach is fundamentally different. We use light to read the complete molecular story in biological fluids, seeing patterns current tests can't detect. Not an improvement. A different paradigm.' What kind of tech is the company developing? Sources told NPR that Haemanthus is currently in the early stages of 'using light detection technology that can essentially guide AI sensors to conduct medical tests.' The company is specifically focusing on Raman spectroscopy, a form of chemical analysis that's been used to diagnose amyotrophic lateral sclerosis (ALS) and some forms of cancer. Based on a notice published in late January, the company has already received a patent for its Raman spectroscopy system. A photo provided to potential investors and obtained by The New York Times reportedly indicates that Haemanthus plans to build a small rectangular device to contain the tech, which will include a door and a digital display screen. Sources told the publication that Haemanthus plans to roll out its tech for veterinary purposes first, before ultimately developing a stamp-size, wearable device for humans. This trajectory was confirmed in part in Haemanthus's X thread. 'We're starting with veterinary medicine. Not because it's easier, but because it's practical and meaningful. It validates our technology, helps animals who can't describe symptoms, and builds the foundation for human applications,' the post reads. Who is working for the company? Sources told both NPR and The New York Times that the startup currently has between 10 and 12 employees, most of whom worked with Evans previously at the lidar tech company Luminar Technologies. Haemanthus reportedly told investors that it had around two dozen advisers, including veterinarians and diagnosticians, though specific names were not provided. How much money has been raised? So far, The New York Times reported, the company has raised $3.5 million through family and friends and is currently seeking another $15 million from investors in the Austin and Say Francisco Bay areas. Materials reviewed by the publication reportedly suggest that the company has an ultimate goal of raising more than $50 million. Is Elizabeth Holmes involved? In February, Holmes told People magazine that she plans to return to her career in healthcare technology after her release, and that she's continuing to write patents for new inventions while serving her sentence. And in its exclusive initial coverage of Haemanthus, NPR cited sources who claimed that Holmes has been providing advice to Evans on his new venture from behind bars. On X, however, Haemanthus strongly refuted that claim. 'Setting the record straight,' the company wrote. 'Elizabeth Holmes has zero involvement in Haemanthus. We've learned from her company's mistakes, but she has no role, now or future. NYT and NPR implied otherwise. We've stayed quiet to build real tech, not conceal. Demonstrating, not promising.'
Entrepreneur
12-05-2025
- Business
- Entrepreneur
Elizabeth Holmes' Partner Starts Blood Testing Company
The startup insists it isn't Theranos 2.0 and that Holmes, who's serving a prison sentence after being convicted of fraud, "has no role." Elizabeth Holmes, 41, is currently in prison for defrauding investors through her infamous blood-testing startup Theranos. Now, her partner and the father of her two children, Billy Evans, has founded a blood-testing startup—but the company insists it isn't Theranos 2.0. Related: 'It's Been Hell': Disgraced Theranos Founder Elizabeth Holmes Says Prison Life Involves Reading 'Harry Potter' and Working for 31 Cents an Hour The New York Times reports that Evans, 33, is working on a new company called Haemanthus, Greek for "blood flower," which focuses on detecting diseases through small samples of blood, urine, and saliva. According to investor materials viewed by The Times, Evans has raised $3.5 million for the startup from friends and family and is reaching out to investors in Austin and San Francisco for an additional $15 million in funding this spring. Haemanthus was incorporated in February 2024 and is focused on animal tests and pet health care before expanding to humans. Earlier this month, the startup received its first patent for a small, box-like machine that uses lasers to process blood, saliva, or urine samples. According to marketing materials, the machine can identify cancers, infections, and illnesses to make diagnoses with laser technology. Haemanthus' marketing materials outline its long-term goal of eventually developing a small, wearable version of the machine for humans. Elizabeth Holmes and Billy Evans. Photo byHolmes' company, Theranos, also attempted to diagnose diseases from a small sample of blood using a box-like machine, the Edison. The company, which Holmes founded in 2003, had a $9 billion valuation by 2015 but gained infamy after Wall Street Journal reporter John Carreyrou exposed that its technology yielded inaccurate readings and depended on third-party technology to perform its tests. The startup collapsed in September 2018, and in November 2022, Holmes was sentenced to 11 years and 3 months in prison after being found guilty of defrauding investors out of hundreds of millions of dollars. She began serving her sentence in May 2023. Holmes met Evans in 2017, and the couple now has two children. Sources told NPR that though Holmes is imprisoned in a federal facility in Bryan, Texas, she has been giving Evans advice on Haemanthus. Related: Elizabeth Holmes 'Giggles' About Her Faux Deep Voice and Recalls 'Sleeping in Walmart Parking Lots' in RV Ahead of Trial The startup denies the claims. Haemanthus turned to X over the weekend to clarify that "this is not Theranos 2.0" and that Holmes has "zero involvement" in the company. "We've learned from her company's mistakes, but she has no role, now or future," the startup wrote in an X thread on Sunday. The startup says it takes a "fundamentally different" approach from Theranos by using lasers to process blood and other fluids. "Theranos attempted to miniaturize existing tests," Haemanthus wrote on X. "Our approach is fundamentally different. We use light to read the complete molecular story in biological fluids, seeing patterns current tests can't detect." 3/ Setting the record straight. Elizabeth Holmes has zero involvement in Haemanthus. We've learned from her company's mistakes, but she has no role, now or future. NYT & @NPR implied otherwise. We've stayed quiet to build real tech, not conceal. Demonstrating, not promising. — haemanthus (@haemanthusinc) May 11, 2025 Haemanthus has about 10 employees under Evans, The New York Times reports. Holmes is expected to be released from prison on August 16, 2032.
ABC News
12-05-2025
- Business
- ABC News
Elizabeth Holmes's partner Billy Evans reportedly raising millions for a blood-testing start-up — and it's not Theranos
The partner of disgraced Theranos CEO Elizabeth Holmes has reportedly raised millions of dollars in order to start a new blood-testing company that can make diagnoses from blood, saliva and urine, according to a report from the New York Times. The company has been pitched as "the future of diagnostics", according to two potential investors, who spoke on condition of anonymity to the Times. Sound familiar? His partner — and the mother of his two children — is currently serving an 11-year prison sentence for her role in overseeing a blood-testing scam that rocked the Silicon Valley. Throughout Theranos' turbulent 15-year history, Holmes claimed her start-up had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. But the technology never worked, and the claims were false. Now, her partner, Billy Evans, who met Holmes as Theranos was collapsing in 2017, looks to be pitching his new company, named Haemanthus, to potential investors. The start-up, which is named after a flower also known as the blood lily, plans to begin testing with pets before progressing to humans. The report claims that Haemanthus' marketing materials, which were reviewed by the Times, include a photo of the start-up's prototype which features a laser that will scan blood, saliva or urine from pets. The prototype bears "more than a passing physical resemblance" to Theranos' blood-testing machine, which was known as the Edison or the miniLab, the Times reported. According to the Times, Haemanthus began by raising $US3.5 million in funding from friends and family, and despite several investors passing on the pitch, has since raised an additional $US15 million. They say that Mr Evans hopes to raise $US50 million. Holmes, a former tech billionaire once hailed as a visionary, is now two years into her 11-year sentence at a federal women's prison camp located in Bryan, Texas. Holmes, whose company promised to revolutionise blood testing with finger-prick analysis, was found guilty on four charges relating to her conduct as chief executive of the blood testing start-up, and not guilty of another four charges. Her 2022 trial revolved around allegations that Holmes duped investors, business partners and patients by making false and fabricated claims about Theranos technology. She repeatedly claimed that the company's testing technology could scan for hundreds of diseases and other problems with a few drops of blood taken with a finger prick instead of a needle stuck in a vein. Holmes took the stand towards the end of the trial, claiming that she acted in good faith and was influenced by the allegedly abusive behaviour of Ramesh "Sunny" Balwani, who served in senior positions at Theranos and was romantically linked to her. The company raised more than $US900 million from a list of renowned investors that included media mogul Rupert Murdoch, software pioneer Larry Ellison and the Walton family behind Walmart. At Theranos' height, Holmes had amassed a fortune of $US4.5 billion on paper due to her stake in the company, and was being lionised as a visionary in cover stories in business magazines. ABC/AP
Yahoo
11-05-2025
- Business
- Yahoo
Elizabeth Holmes's partner reportedly raises millions for blood-testing startup
Elizabeth Holmes's romantic partner – the father of her children – reportedly has raised millions of dollars to start up a new blood-testing company that is strikingly similar to the one that landed the Theranos founder in federal prison. The fundraising comes as Billy Evans, an heir to a hotel fortune, is pitching his new company, Haemanthus, to potential investors, according to the New York Times. Evans's pitch: a health-testing company that can make diagnoses from users' blood, urine and saliva. Haemanthus' pitch and those made by the Holmes-helmed Theranos share a few significant similarities. Holmes launched Theranos in 2003 after her health-testing tech startup received significant investment from high-profile multimillionaires. She claimed her company had developed technology to rapidly and accurately test small amounts of blood to provide diagnoses. Meanwhile, in a January patent, Haemanthus indicated it can use its technology to test sweat, urine, saliva and small amounts of blood for diagnoses. The company led by Evans, who has two children with Holmes, was incorporated in February 2024 – and it has indicated that it was set to begin running tests for animals before conducting testing on humans. Theranos's claims about its technology helped its valuation balloon, reaching its $9bn peak in 2014. But bombshell investigations from the Wall Street Journal revealed that Theranos's claims were largely false. The tests were illegitimate, providing false results. The scandal peaked when the company was dissolved in 2018. Later that same year, Holmes and the company's president were charged with fraud. Holmes was sentenced to 11 years prison in 2022 for defrauding investors. Haemanthus' marketing materials, reviewed by the New York Times, show that the company's technology will use a laser to scan blood, saliva or urine from pets and 'analyze the samples on a molecular level'. The technology then would require only a matter of seconds to detect illnesses, cancer or infections. According to the Times' report, the marketing materials say the Haemanthus' long-term goals include developing a small, wearable version of the device for humans. Several investors have already passed on the pitch, according to the Times report. But, while reportedly being advised by Holmes, Evans has been able to raise almost $20m from friends and other investors. Evans met Holmes in 2017 amid the fraud investigation that resulted in her imprisonment. He reportedly lives in Texas with their children while Holmes is serving time in a federal prison about two hours away. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Guardian
11-05-2025
- Business
- The Guardian
Elizabeth Holmes's partner reportedly raises millions for blood-testing startup
Elizabeth Holmes's romantic partner – the father of her children – reportedly has raised millions of dollars to start up a new blood-testing company that is strikingly similar to the one that landed the Theranos founder in federal prison. The fundraising comes as Billy Evans, an heir to a hotel fortune, is pitching his new company, Haemanthus, to potential investors, according to the New York Times. Evans's pitch: a health-testing company that can make diagnoses from users' blood, urine and saliva. Haemanthus' pitch and those made by the Holmes-helmed Theranos share a few significant similarities. Holmes launched Theranos in 2003 after her health-testing tech startup received significant investment from high-profile multimillionaires. She claimed her company had developed technology to rapidly and accurately test small amounts of blood to provide diagnoses. Meanwhile, in a January patent, Haemanthus indicated it can use its technology to test sweat, urine, saliva and small amounts of blood for diagnoses. The company led by Evans, who has two children with Holmes, was incorporated in February 2024 – and it has indicated that it was set to begin running tests for animals before conducting testing on humans. Theranos's claims about its technology helped its valuation balloon, reaching its $9bn peak in 2014. But bombshell investigations from the Wall Street Journal revealed that Theranos's claims were largely false. The tests were illegitimate, providing false results. The scandal peaked when the company was dissolved in 2018. Later that same year, Holmes and the company's president were charged with fraud. Holmes was sentenced to 11 years prison in 2022 for defrauding investors. Haemanthus' marketing materials, reviewed by the New York Times, show that the company's technology will use a laser to scan blood, saliva or urine from pets and 'analyze the samples on a molecular level'. The technology then would require only a matter of seconds to detect illnesses, cancer or infections. According to the Times' report, the marketing materials say the Haemanthus' long-term goals include developing a small, wearable version of the device for humans. Several investors have already passed on the pitch, according to the Times report. But, while reportedly being advised by Holmes, Evans has been able to raise almost $20m from friends and other investors. Evans met Holmes in 2017 amid the fraud investigation that resulted in her imprisonment. He reportedly lives in Texas with their children while Holmes is serving time in a federal prison about two hours away.
