Theranos even threatened to sue John himself who became a perceived enemy to the company, with some Theranos employees even chanting ‘Fuck you Carreyrou’. ![]() At first, Holmes vehemently denied the claims made against her and the company. The reaction from Theranos was astonishing. FDA investigations ensued and all that was written in John’s report was proven correct. Thanks in large part to the information from Theranos whistleblowers, John was able to publish his report in The Wall Street Journal, revealing that Theranos was not using its own technology to run the majority of its tests due to the inefficiency of its own technology. It would seem that the company had been built on nothing more than audacious lies. They revealed lies to board members, a culture of intimidation and secrecy, technology that repeatedly failed quality assurance and crucially, results sent to real patients that were fundamentally incorrect, upon which life-changing medical decisions were being made. ĭespite intimidation and threats of legal action, former Theranos employees Erika Cheung and Tyler Schultz, whose Grandfather George Schultz was a member of the Theranos board, began sharing their experiences of the company, its technology and practices with John. Having received a tip doubting the performance of the Theranos technology, John’s interest was triggered further by Holmes’s purported ability to invent ground-breaking medical technology after just two semesters of chemical engineering classes at Stanford. It was John Carreyrou, twice-Pulitzer-prize-winning journalist of The Wall Street Journal who first broke the story in 2015. The only problem? The technology didn’t work. Having raised over $700m in investment from the likes of Larry Ellison and Tim Draper, the company had become the rising star of Silicon Valley and was valued at over $9 billion, while Holmes, with a share of more than half that, was heralded as the female Steve Jobs. Automated, fast and inexpensive, Theranos seemed to be offering technology that could revolutionize medicine and save lives the world over.Įlizabeth Holmes, founder and CEO of Theranos, had famously dropped out of Stanford to found the company using her tuition money, and was just 30 when Theranos was at its peak. While existing technology required one vial of blood for each diagnostic test conducted, Theranos claimed to be able to perform hundreds of tests (supposedly over 240) ranging from cholesterol levels to complex genetic analysis, with just a single pinprick of blood. Should no new trial be ordered, Holmes and her attorneys are also seeking a reduction to her sentence of more than 11 years in prison, which they called "severe" and erroneously decided.In 2014, Theranos, a blood-testing startup pitching a supposedly revolutionary technology, was flying high. The lawyers also argue the government committed violations during its prosecution - ones that the District Court Judge Ed Davila nevertheless "indulged" as he "abus" his discretion, according to the filing.Īlong with the exclusion of key testimony from Holmes' co-defendant, Sunny Balwani, during which they argue that Balwani implicated himself in running the company's finances, the jury's guilty verdict for Holmes was "unjust," the lawyers write. Food & Drug Administration (FDA) approved an assay on Theranos’ proprietary technology." ![]() ![]() Theranos’ groundbreaking developments received many patents. Outsiders who reviewed the technology said it worked. ![]() "Highly credentialed Theranos scientists told Holmes in real time the technology worked. "But the reality differed significantly from that narrative," Holmes' attorneys say.
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