Elizabeth Holmes’ Partner Raises Millions for New Biotech Startup
Billy Evans, the partner of Elizabeth Holmes, the convicted founder of Theranos, has secured millions of dollars in funding for his new artificial intelligence startup, Haemanthus. The company is developing a product that could be used in medical testing and other applications, according to sources familiar with the venture.
Despite being incarcerated in a federal prison in Texas for misleading investors about Theranos’ blood-testing technology, Holmes is advising Evans on the new venture. The exact nature of her involvement is unclear. Haemanthus, which is Greek for “blood flower,” is still in its early stages and has about a dozen employees, some of whom previously worked with Evans at Luminar Technologies.
The startup is focused on Raman spectroscopy, a technology that has shown promise in diagnosing diseases such as ALS and certain forms of cancer. Haemanthus aims to make this technology more affordable and commercially available for patient use. The company’s patented light detection tool can test various biological materials, including blood, sweat, urine, and saliva.
In a statement on social media, Haemanthus acknowledged the skepticism surrounding its connection to Holmes but emphasized that its work should stand on its own merit. “This is not Theranos 2.0,” the company asserted. While Holmes is not expected to take a formal role in the company due to her ban from serving as an officer or director of a public company, she has expressed her intention to return to the biotech industry after her release from prison.
Evans has primarily raised funds from friends, family, and supporters so far. As Haemanthus continues to develop its technology, the company faces the challenge of distinguishing itself from Holmes’ previous venture and proving its scientific credibility.
