The partner of Theranos founder Elizabeth Holmes, Billy Evans, has successfully raised millions of dollars for an innovative artificial intelligence startup named Haemanthus. This startup aims to introduce groundbreaking products for medical testing and other applications. According to two sources familiar with the situation, who spoke on the condition of anonymity, the company has not yet publicly launched, making detailed disclosures difficult.
Haemanthus, which translates to "blood flower" in Greek, is poised to make a significant impact in the health tech sector. Despite being a former Silicon Valley star serving an 11-year prison sentence for fraud related to Theranos, Holmes has been actively advising Evans on the startup's development from her incarceration at a federal facility in Bryan, Texas. However, the exact nature of her involvement remains unclear.
The startup comprises about a dozen team members, many of whom previously collaborated with Evans at Luminar Technologies, a company specializing in sensors for autonomous vehicles. So far, Evans has primarily raised funding from friends, family, and other supporters, as noted by one of the sources. This venture into biotech is particularly noteworthy, considering Holmes' current legal troubles stemming from her involvement in a similar field.
Throughout her nearly four-month criminal trial, Holmes maintained her innocence, despite overwhelming evidence suggesting she misled investors about Theranos' faulty technology. Her imprisonment has not deterred her ambitions; she has made it clear that she intends to return to the healthcare industry after serving her sentence. In an interview with People magazine, Holmes expressed her plans to resume her biotech career and mentioned that she has been busy writing patents for new inventions during her time in prison.
Haemanthus is currently in its early development stages, focusing on a technology called Raman spectroscopy. This method has shown promise in diagnosing conditions such as ALS (Lou Gehrig's disease) and certain forms of cancer. Additionally, it has applications in detecting improvised explosive devices on battlefields. The company aims to make this technology more accessible and affordable, moving it out of research labs and into the hands of patients.
The company’s January patent indicates that their light detection technology can effectively analyze various biological materials, including sweat, urine, and saliva, as well as small samples of blood for diagnostic tests. Although the specific consumer product is still under development, Haemanthus is dedicated to enhancing medical testing capabilities and reducing costs, with the ultimate goal of making advanced healthcare solutions widely available.
As Haemanthus progresses, the involvement of Holmes, albeit informal, may continue to attract attention given her controversial background and the ongoing interest in innovative biotech solutions. The startup has yet to make an official statement, and a lawyer representing Holmes did not respond to requests for comment.
