In a surprising turn of events, Billy Evans, the romantic partner of Elizabeth Holmes and father of her children, has reportedly raised millions of dollars to establish a new blood-testing company. This venture, named Haemanthus, shares striking similarities with the infamous Theranos, the company that led Holmes to federal prison. According to a report by the New York Times, Evans is actively pitching Haemanthus to potential investors, aiming to revolutionize health diagnostics.
Haemanthus is positioned as a health-testing startup capable of making diagnoses from users’ blood, urine, and saliva. The company's pitch resonates with the promises made by Theranos when it was launched in 2003. Back then, Holmes claimed her organization had developed groundbreaking technology that could rapidly and accurately test small volumes of blood. Unfortunately, those claims were later proven to be largely false, leading to a scandal that ultimately resulted in the dissolution of Theranos in 2018.
In a recent patent filed in January, Haemanthus indicated its ability to utilize its technology for testing sweat, urine, saliva, and small blood samples for diagnostics. This approach echoes the methodology that once buoyed Theranos's valuation to a staggering $9 billion at its peak in 2014. However, the Wall Street Journal’s investigations revealed that Theranos's technology was flawed, providing inaccurate test results and contributing to its demise.
Incorporated in February 2024, Haemanthus aims to begin testing on animals before progressing to human trials. According to the New York Times, the marketing materials for Haemanthus describe how the company's technology will use a laser to analyze samples from pets and detect illnesses, including cancer and infections, within seconds. Future aspirations for the company include developing a compact, wearable version of the device for human use.
Despite the controversial background associated with Holmes, Evans has reportedly raised nearly $20 million from friends and investors, although several potential backers have turned down his pitch. Notably, Evans has been advised by Holmes throughout this process, even as she serves an 11-year sentence for defrauding investors. He currently resides in Texas with their children, approximately two hours away from the federal prison where Holmes is incarcerated.
As Haemanthus embarks on this ambitious journey, the company faces the weight of its predecessor's legacy. With ongoing scrutiny from investors and the public, the path ahead remains uncertain. However, Evans's determination and the innovative aspects of Haemanthus's technology may pave the way for a new chapter in health diagnostics, provided they can overcome the challenges that lie ahead.
