Thursday, May 12, 2016

Theranos Health Tech Scandal

Theranos Health Tech Scandal --- ===

Elizabeth Holmes dropped out of Stanford and founded a company called Theranos with her tuition money

*Reference

  • Theranos https://www.theranos.com/ Theranos, Inc. is a consumer healthcare technology company. Theranos' clinical laboratory offers comprehensive laboratory tests from samples as small as a ...
  • Theranos - Wikipedia, American privately held health-technology and medical-laboratory-services company based in Palo Alto, California. It is under investigation by ...
  • Theranos (@theranos) | Twitter 

May 12, 2016

Theranos shuffles leadership; president retires
Los Angeles Times‎ The president of Theranos Inc. will retire as the embattled blood-testing company shuffles its leadership. The Palo Alto company — which has ...

Theranos' president is leaving the company
Business Insider‎ -

John Herrman (@jwherrman)  imagine you just woke up from a five-year coma and the first headline you see is about EMBATTLED BLOOD LAB THERANOS

Mo Hadi (@hadimo)  View on Twitter #Theranos can do all the mgmt shake ups it wants. Until it shows the data nothing else matters: read.bi/1THto6sby @lydiaramsey125

Mark Rogowsky (@maxrogo) One big difference: uBeam got lots of public sniping all along. Theranos, the sniping was private until lately

Henry Blodget (@hblodget)  Insiders call much-hyped startup Ubeam the Theranos of wireless charging [oof}www.businessinsider.com/u… Great story from @bizcarson


View on Twitter 'Next Theranos?' Ex-employee claims wireless charging start-up is a shamcnb.cx/23KxbWf


Theranos Executive Sunny Balwani to Depart Amid Regulatory Probes ...
www.wsj.com/.../theranos-executive-sunny-balwani...
The Wall Street Journal Departure of president and operating chief comes amid broad reorganization at embattled company. ... A top executive who helped build TheranosInc. into a major blood-testing laboratory is leaving the company amid regulatory probes of the embattled Silicon Valley firm. The departure of ...

Theranos' COO and president, Sunny Balwani, to retire - Business ...
Business Insider  Theranos Chief Executive Officer Elizabeth Holmes speaks on stage at the Glamour Women of the Year Thomson ReutersTheranos CEO ...

May 9, 2016


Launch, hype-cycle, demise. Launch, hype-cycle, demise. Again and again. One the biggest catalysts for this cycle? Dumb money.

The Theranos Scandal Is Just The Beginning | Fast Company ...
www.fastcompany.com/.../the-theranos-scandal-is-just-the-...
Fast Company3 days ago - When Theranos first launched in 2014, it quickly became a media sensation. The headlines practically wrote themselves: Elizabeth Holmes Is ... If the Internet loves anything more than a "next Steve Jobs" narrative, it's a witch hunt. Some pundits have pointed the finger at Holmes, once hailed as the Steve Jobs of biotech, for trumping up her company's technology. Others, like Nick Bilton at Vanity Fair, have labeled the tech press a "secret culprit". Some say it's the venture capital community: Shouldn't Theranos' investors, which include Larry Ellison's Tako Ventures and DFJ, have picked up on problems with the technology or its corporate practices before writing Theranos such big checks? After all, the warning signs were there: The original board included plenty of big names, like Henry Kissinger and George Shultz, but very little scientific experience, and the level of secrecy the company maintained was actually pretty atypical for a biotech startup. And then there's the whole complicated mess that is our regulatory system: The FDA has yet to release its final guidance on how it will regulate the category of tests that includes Theranos.
Until we address the complicated set of factors that led to Theranos' rise and its downfall, this will happen again.
All these entities are worthy of blame. But after we find our scapegoats, the problem will not be solved. Until we address all the factors that led to Theranos' rise and its downfall, this will happen again. Launch, hype-cycle, demise. Launch, hype-cycle, demise. Again and again. One the biggest catalysts for this cycle? Dumb money.


Mar 28 2016  Finally, Some Theranos Data. But Not From Theranos - Forbes
www.forbes.com/.../theranos-tests-have-flaws-but-may-be-fixable-independ...... the mid-century statistician William Edward Deming quipped. “All others bring data.” Now, once again, Theranos does not have data to bring.
researchers at the Icahn School of Medicine at Mt. Sinai have done their own analysis of Theranos’ tests, which replace needle jabs with finger pricks. They have found them wanting.

The Mt. Sinai researchers analyzed results from 60 patients using Theranos and tests from larger rivals Laboratory Corporation of America and Quest Diagnostics DGX -1.40%. The study found that Theranos consistently gave cholesterol readouts that were five to ten points too low. It was 12.5 times more likely to say it could not get results from a sample. It was 60% more likely to say a test value was too low or too high. The study is published today in the Journal of Clinical Investigation.

At stake is the fortune of Elizabeth Holmes, Theranos’ 32-year-old founder and the world’s youngest self-made woman billionaire. Forbes values it at $3.6 billion based on her 50% in Theranos and on private investments others have made in her company. Also at stake is her self-stated mission to transform the business of blood-testing, which she says lacks transparency and too often does not put patients first. Theranos’ tests, which replace stabbing needles with tiny finger pricks and return results more quickly, are her path to changing the world.

April 18, 2016 

Theranos Is Subject of Criminal Probe by U.S. - WSJ
www.wsj.com/.../theranos-is-subject-of-criminal-pro...
The Wall Street JournalApr 18, 2016 - Federal prosecutors have launched a criminal investigation into whetherTheranos Inc. misled investors about the state of its technology and ...

Theranos CEO Elizabeth Holmes:I'm devastated we didn't catch these ...
www.cnbc.com/.../theranos-ceo-elizabeth-holmesim-devastated-we...
CNBCApr 18, 2016 - CEO Elizabeth Holmes says Theranos is rebuilding its laboratory from scratch "so that we can ensure it never happens again."
Theranos' Future Looks Bloody Grim as Feds Threaten a Shutdown ...
www.wired.com/.../theranos-future-looks-bloody-grim-feds-threat...
WiredApr 13, 2016 - Federal regulators are threatening to shut down Theranos' California lab and ban its owners from running any labs for two years.
Dec 18, 2015 Theranos Founder Faces a Test of Technology, and Reputation - The ...
www.nytimes.com/.../theranos-founder-faces-a-test-of-technology-and-rep...Elizabeth Holmes built Theranos into a company valued at $9 billion, with help from some powerful family connections, but its successes have ...
heranos by some measures has a $9 billion valuation because, in part, of its claims that its proprietary technology has the potential to disrupt the established players in health care. Its protagonist was inspiring. Ms. Holmes, a young Stanford University dropout who speaks Mandarin, applied for her first patent before she was 20 and fearlessly commanded any room she entered. Her board was populated with former diplomats and leaders of the Senate. But aninvestigation published in The Wall Street Journal in October changed the narrative by raising serious concerns about whether the company’s technology actually works....

Theranos says it has conducted millions of tests, largely through a partnership with Walgreens, the drugstore chain, no one from outside Theranos has ever verified the technology...

As a freshman at Stanford, she camped outside the office of Channing Robertson, her chemical engineering professor, to ask to join his laboratory, something typically open only to seniors and graduate students. She more than held her own in the lab, recalled Mr. Robertson, and the following summer she got a position at the Genome Institute of Singapore.

When she returned to Stanford in the fall of 2003, then 19, she laid a thick patent application in front of Mr. Robertson. “I truly was astonished,” Mr. Robertson said. She had come up with an idea for a drug-delivery system that would be able to detect drug levels in the blood and wirelessly transmit those results.


October 2015 

Theranos Trouble: A First Person Account — Monday Note
https://mondaynote.com/theranos-trouble-a-first-person-account-1690b8...
Oct 18, 2015 - Theranos wants to change the world of blood tests: tiny samples, tiny prices, capillary (forgive the pun) distribution t…
investigation published in The Wall Street Journal in October changed the narrative by raising serious concerns about whether the company’s technology actually works.

Hot Startup Theranos Has Struggled With Its Blood-Test Technology ...
www.wsj.com/.../theranos-has-struggled-with-blo...
The Wall Street JournalOct 16, 2015 - Silicon Valley lab Theranos, led by Elizabeth Holmes, is valued at $9 billion but isn't using its technology for all the tests it offers. ... On Theranos Inc.'s website, company founder Elizabeth Holmes holds up a tiny vial to show how thestartup's “breakthrough advancements have made it possible to quickly ...

FDA Scrutiny Raises Questions About Theranos' 'Breakthrough' Blood ...
khn.org/.../fda-scrutiny-raises-questions-about-theranos-breakthrough-bl...
Oct 19, 2015 - The New York Times: Theranos, A Blood Test Start-Up, Faces F.D.A. Scrutiny ... On Theranos Inc.'s website, company founder Elizabeth Holmes holds up a tiny vial to show how the startup's “breakthrough advancements have made itpossible to quickly process the full range of laboratory tests from a few ...

Climateer Investing: "Hot Startup Theranos Has Struggled With Its ...
climateerinvest.blogspot.com/.../hot-startup-theranos-has-struggled-with....
Oct 15, 2015 - Silicon Valley lab, led by Elizabeth Holmes, is valued at $9 billion but isn't using its technology for all the tests it offers. On Theranos Inc.'s website,company founder Elizabeth Holmesholds up a tiny vial to show how the startup's “breakthrough advancements have made it possible to quickly process the ...

Theranos CEO fires back at WSJ: I was shocked - CNBC.com
www.cnbc.com/.../theranos-ceo-fires-back-at-wsj-i-was-shocked.ht...
CNBCOct 15, 2015 - Jim Cramer speaks to the founder of Theranos following a scathing media report.
The New York Times: Theranos, A Blood Test Start-Up, Faces F.D.A. Scrutiny
Theranos, a closely watched start-up that vowed to revolutionize medical testing, said on Friday that because of questions raised by the Food and Drug Administration, it had temporarily halted its trademark practice of collecting tiny blood samples from finger pricks. The privately held Theranos has reportedly been valued at more than $9 billion, roughly akin to the laboratory giants Quest and LabCorp. That is based on Theranos’s purported ability to perform dozens of medical tests using only drops of blood from a finger, rather than the conventional larger vials collected from the crook of the arm. (Pollack and Abelson, 10/16)

The Wall Street Journal: Hot Startup Theranos Has Struggled With Its Blood-Test Technology
On Theranos Inc.’s website, company founder Elizabeth Holmes holds up a tiny vial to show how the startup’s “breakthrough advancements have made it possible to quickly process the full range of laboratory tests from a few drops of blood.” The company offers more than 240 tests, ranging from cholesterol to cancer. It claims its technology can work with just a finger prick. ... But Theranos has struggled behind the scenes to turn the excitement over its technology into reality. (Carreyrou, 10/16)

The Washington Post: A Comprehensive Guide To Theranos’s Troubles And What It Means For You
A deeply reported story by the Wall Street Journal has pulled the curtain back on Theranos, the hot and intensely secretive Palo Alto, Calif., company that aims to revolutionize how we get our blood tested. The newspaper's investigation raises questions about the accuracy and also the novelty of what the company is doing. Here's a guide to the growing questions about this company, the industry, and why it matters. (Johnson and Cha, 10/17)

The Washington Post's Wonkblog: The Wildly Hyped $9 Billion Blood Test Company That No One Really Understands
A few days ago, the chief executive of one of the hottest and most secretive health care companies was named one of "five visionary tech entrepreneurs who are changing the world" by the New York Times. Elizabeth Holmes, the head of blood testing company Theranos, has also appeared on the cover of Fortune, was the subject of an admiring profile in the New Yorker, and was this month splashed on the cover of Inc. with the understated headline "The Next Steve Jobs." A deeply reported investigative story by the Wall Street Journal on Thursday revealed that despite its $9 billion valuation and its board made up of political heavyweights -- including Henry Kissinger and former secretary of state George Shultz -- Theranos' actual revolutionary technology may be falling flat. (Johnson, 10/16)

Feb 2014 

This Woman Invented a Way to Run 30 Lab Tests on Only One Drop of ...
www.wired.com/2014/02/elizabeth-holmes-theranos/Elizabeth Holmes dropped out of Stanford and founded a company called Theranos with her tuition money. Now, instead of vials of blood, ...


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