Elizabeth Holmes' Partner Fundraising for New Startup

Haemanthus: A New Venture with Echoes of Theranos

Billy Evans, the partner of Elizabeth Holmes, the founder of Theranos, is currently involved in the development of a new startup. This venture aims to provide “human health optimization” services utilizing blood testing methodologies.

Details of the Startup, Haemanthus

According to reports from The New York Times, Haemanthus has been presented to potential investors. The publication also reviewed marketing materials released by the company.

Haemanthus claims to have engineered a device employing laser technology. This machine is designed to analyze biological samples – including blood, saliva, and urine – for the detection of both cancerous growths and infectious diseases.

Phased Rollout and Funding Goals

The company’s initial strategy involves focusing on the pet health market. Following this, Haemanthus intends to broaden its services to include human health applications. Currently, the startup is seeking to secure over $50 million in funding.

Parallels to Theranos

The core concept behind Haemanthus bears a striking resemblance to the original promises made by Theranos. Theranos previously asserted its ability to perform a wide range of medical tests using only small volumes of blood obtained through finger pricks.

Elizabeth Holmes, who shares two children with Evans, was convicted in 2022 for investor fraud and received an 11-year prison sentence. Despite this, she recently expressed her continued dedication to “making affordable healthcare solutions available to everyone.”

Investor Caution

Jim Breyer, an early investor in Facebook, revealed to The Times that his firm was approached regarding a potential investment in Haemanthus. However, they ultimately decided to decline, citing concerns similar to those that led them to pass on Theranos on two prior occasions.

Key concerns appear to stem from the historical context and perceived risks associated with similar technologies and business models.