May 2, 2019
In the tech world, the name Theranos creates a direct synapse with scandal and fraud. Once a Silicon Valley darling, the biotech company, which focused on blood tests, was exposed for its fraudulent claims and brought down in disgrace.
As the health and tech sectors continue to fuse, it is important to remember the ethics behind the tech, Erika Cheung, a key whistleblower in the Theranos scandal...
September 5, 2018
The end of an error. The Wall Street Journal reports that Theranos, the once-promising blood testing startup now plagued by scandals and lawsuits, will soon be shutting its doors for good. In a letter to shareholders obtained by the Journal, CEO and General Counsel David Taylor wrote that the company’s attempts to negotiate a sale transaction did not bear fruit, and that the company is in default...
March 15, 2018
The Securities and Exchange Commission has charged Elizabeth Holmes, founder and CEO of scandal-ridden startup Theranos, with “massive fraud.”
Along with former Theranos President Ramesh “Sunny” Balwani, Holmes has been charged with raising over $700 million from investors “through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology,...
May 31, 2017
Cure Forward shuts down. Cure Forward, a clinical trial matching platform aimed at cancer patients, has shut down its operations. The Cambridge, Massachusetts startup launched in 2015 with $15 million in venture backing, but was unable to generate new revenue going forward. In a message on its website, Cure Forward referred visitors to its site to the Cancer Support Community in their quest to...
July 25, 2016
Rick Lee takes the helm at MeYou Health: Nashville-based employee wellness company Healthways has divested itself from MeYou Health, its Boston-based innovation and digital health subsidiary. Rick Lee, a serial entrepreneur who sold early digital wellness platform Healthrageous to Humana in 2013, led a group of investors, including Ballast Point Ventures, Blue Shield of California, and several...
March 24, 2016
A former Apple executive has launched an Indiegogo campaign for Cor, his two-year-old consumer blood tracking startup formerly known as Neuon. Bob Messerschmidt worked on optics and spectrometry for the Apple Watch for three years after his previous startup, Rare Light, was quietly acquired by Apple.
The company already has $1 million in seed funding, according to a report in TechCrunch, but is...
July 20, 2015
Palo Alto-based novel blood test company Theranos was granted a waiver from the FDA allowing the company to offer its first FDA-cleared blood test, its herpes simplex 1 virus IgG (HSV IgG) test, outside of a lab setting. According to the company, it's the first HSV test to receive the waiver, called a CLIA waiver (CLIA stands for the Clinical Laboratory Improvement Amendments of 1988).
July 15, 2015
AmeriHealth Caritas, a Medicaid managed care organization, has partnered with Palo Alto-based Theranos, which is working on a smaller, cheaper, alternative to common lab blood tests, to offer Theranos' services to its Medicaid members.
AmeriHealth Caritas operates in 16 states and DC. It serves more than 6.6 million members.
Theranos uses a lab-on-a-chip technology to run multiple blood tests on...
July 6, 2015
Theranos, the 12-year-old Palo Alto-based company working on a smaller, cheaper, alternative to common lab blood tests, has received its first voluntary FDA 510(k) clearance, for its herpes simplex 1 virus IgG (HSV IgG) test.
Using a (still largely secretive) lab-on-a-chip technology, Theranos is able to run multiple blood tests on just a few drops of blood, whereas traditional labs need to draw...