Elizabeth Holmes’ partner reportedly fundraising for new blood-testing startup

Tech Crunch - May 10th, 2025

Billy Evans, the partner of Theranos founder Elizabeth Holmes, is embarking on a new entrepreneurial venture with a startup named Haemanthus, aiming to revolutionize health optimization through advanced blood testing methodologies. According to The New York Times, Haemanthus has developed a machine that employs lasers to analyze blood, saliva, and urine samples for detecting cancer and infections. Initially targeting the pet health market, the company plans to expand into human health and is seeking to raise over $50 million. This approach mirrors the ambitious promises made by Theranos, which claimed to perform numerous medical tests from minimal blood samples, a vision that ultimately led to Holmes' conviction for defrauding investors.

The new venture, reminiscent of Theranos' flawed promises, has sparked skepticism among potential investors, including early Facebook investor Jim Breyer, who declined to invest in Haemanthus citing similar concerns that led his team to pass on Theranos twice. Despite Holmes' conviction and ongoing prison sentence, she remains vocal about her dedication to making affordable healthcare accessible. The emergence of Haemanthus highlights ongoing interest and caution in the health tech industry, raising questions about innovation, ethics, and the legacy of Theranos' failed promises.

Investment Theranos Startup Billy Evans Elizabeth Holmes Haemanthus Blood Testing Health Optimization Jim Breyer

Story submitted by Fairstory

RATING

6.4

Moderately Fair

Read with skepticism

The news story provides a timely and engaging account of Billy Evans' new startup, Haemanthus, in the context of its similarities to Theranos. It effectively captures public interest by linking the new venture to Elizabeth Holmes and the infamous Theranos scandal. The article is clear and readable, making it accessible to a broad audience. However, it lacks balance and depth, as it primarily relies on a single source and does not include a range of perspectives or detailed verification of claims. Greater transparency about the information sources and more diverse viewpoints would enhance the story's credibility and impact. Overall, while the article successfully highlights a newsworthy topic, it would benefit from additional corroboration and expert analysis to strengthen its factual accuracy and balance.

Accuracy

The story presents several factual claims, such as Billy Evans working on a new startup named Haemanthus, which aims to optimize human health through blood testing. The claim about the technology using lasers to analyze samples is specific, but requires verification to ensure its accuracy. The article accurately reports Elizabeth Holmes' legal status and her connection to Evans, which is supported by public records. However, the mention of investor interest, particularly Jim Breyer's comments, needs confirmation from independent sources. The story's accuracy would benefit from more direct quotes or statements from involved parties.

Balance

The article primarily focuses on the new startup and its potential similarities to Theranos, which may skew the perspective towards skepticism. While it mentions the startup's goals and technology, it lacks a range of viewpoints, such as expert opinions on the feasibility of the technology or comments from potential investors who might be interested despite the Theranos parallel. Including such perspectives could provide a more balanced view of the startup's prospects.

Clarity

The article is clear and concise, with a logical flow that makes it easy to follow the main points. The language is straightforward, and the structure effectively separates different aspects of the story, such as the startup's goals, technology, and the connection to Theranos. However, more detailed explanations of the technology and business model could improve comprehension for readers unfamiliar with the subject matter.

Source quality

The article cites The New York Times as its primary source, which is generally considered reliable. However, it does not provide direct quotes or detailed attributions from the investors or marketing materials mentioned. The reliance on a single source without corroborating information from other outlets or industry experts limits the depth of source quality. Additional sources or interviews with stakeholders would strengthen the credibility of the reporting.

Transparency

The article lacks transparency in terms of explaining how the information was obtained, particularly regarding the marketing materials and investor reactions. It does not disclose any potential conflicts of interest or the methodology used to verify claims. Greater transparency about the sources of information and potential biases would enhance the reader's understanding of the article's foundation.