A team of professionals collaborating on innovative blood testing solutions in a modern lab.
Haemanthus, a groundbreaking blood-testing startup founded by Billy Evans, is aiming to revolutionize healthcare with rapid diagnostics. Despite connections to Theranos’ Elizabeth Holmes, the company seeks to gain credibility by initially targeting the pet health market. With ambitious funding goals and a unique approach to diagnostics, many are watching closely to see if Haemanthus can succeed where others have failed.
Meet Haemanthus, the latest blood-testing startup that’s aiming to shake up the healthcare scene! Founded by Billy Evans, the partner of notorious Theranos fraudster Elizabeth Holmes, this venture is ambitiously marketed as “the future of diagnostics.” So, what’s the story behind this intriguing startup? Let’s dive in!
The name Haemanthus has a poetic touch to it. Derived from Greek, it translates to “blood flower,” which symbolizes the company’s focus on blood testing. It’s a clever play on words, hinting at both health and innovation right off the bat.
Haemanthus isn’t just another startup making grand promises. They tout a “radically new approach to health testing” that aims to deliver rapid results from blood, saliva, or urine samples. Imagine getting results in seconds! However, skeptics can’t help but notice that these claims ring eerily similar to those once sung by Theranos, the company that ended in scandal when its promises fell flat.
As if this story couldn’t get any more interesting, Elizabeth Holmes is reportedly advising Evans’s new venture from her prison cell in Texas, where she is serving an 11-year sentence for fraud. It seems that Holmes is still keen to offer her insights on blood-testing technology, which has raised more than a few eyebrows. Is this a case of “once bitten, twice shy,” or is there more to the narrative?
With ambitious plans, Evans is on the hunt for $50 million to fund the startup. Interestingly, while he has garnered nearly $20 million from friends and some established investors in areas like Austin and San Francisco, he has faced plenty of skepticism. Some high-profile investors, including notable venture capitalist James Breyer and those connected to billionaire Michael Dell, have opted out, pointing out that viable diagnostics must have “scientific defensibility and clinical utility.” Their cautiousness might stem from the scars of the Theranos scandal.
What’s unique about Haemanthus is that it’s initially targeting the pet health market before setting its sights on human health. This move could attract a less critical audience, giving them a chance to build credibility in this niche before expanding. Nonetheless, many wonder if the company’s technology can truly deliver on its sweeping promises.
Billy Evans, the mastermind behind Haemanthus, is no stranger to innovation. He is the heir to a hospitality company with luxury hotels and holds a degree from MIT. Before this venture, he dabbled in the tech space with a self-driving car startup, Luminar. His background could work to his advantage, but his connection to Holmes undoubtedly complicates matters.
Currently operating out of Evans’ neighborhood in Austin, Haemanthus was incorporated about a year and a half ago and has a modest team of around 10 employees. Described on Evans’s LinkedIn as a “stealth startup,” it seems they’re not in a rush to seek the spotlight just yet.
In a world where trust is paramount, can a startup rooted in the shadows of deception chart a new path? Haemanthus has a mountain to climb if it wants to prove its credibility. As it unfolds, many will be watching to see if this ambitious partnership can indeed turn a fresh leaf in the diagnostics industry while they navigate the challenges of past scandals.
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