NEWS COMMENTARY

Blood-testing company Theranos to finally dissolve

Published:
September 05, 2018
Services:
CPG More...
Priorities:
“Better-for-You” Transformation More...
Activities:
Bankruptcy More...
Average importance

Theranos finally announced it will shut down. The company has arguably run one of the biggest biotech scams in modern times. Once a Silicon Valley darling valued at $9 billion, things started to go downhill for Theranos after a 2015 exposé in October 2015 questioned the accuracy and reliability of its blood tests, eventually leading to criminal investigations. Theranos claimed it could provide comprehensive blood tests with just a few drops of blood, a claim it failed to deliver on. Apart from its false technology claims, it also misled investors by claiming to have revenues exceeding $100 million, when in fact it barely made $100,000. Clients should take note of this cautionary tale about the dangers of biotech hype outpacing reality. 

For the original news article, click here .


Further Reading

Oxford Nanopore prepares for a $3 billion IPO

News Commentary | April 01, 2021

Oxford Nanopore's nanopore technology has come into the limelight since the COVID‑19 outbreak. Since then, it has supported scientists in over 85 countries in tracking the emergence of new mutant variants. This field validation and its ability to overcome various technical hurdles sets the stage for... To read more, click here.

Helix's pivot from consumer genomics to population genomics highlights broader shifts in the human genomics landscape

Case Study | July 29, 2021

Helix Genomics came into the spotlight a few years ago when it pioneered a digital marketplace concept for genomics where it used a dynamic consent model to allow third‑party developers to turn genomics data into personalized insights for the consumer. It also offered whole‑exome sequencing (WES), ... Not part of subscription

Amcor launches startup pitch competition for sustainable packaging

News Commentary | April 11, 2022

Amcor plans to award USD 250,000 (in the form of a convertible loan) as well as partnership support to five winning companies with innovative technologies or, notably, business models. An open competition can be an attractive way to engage with startups, but requires considerable time and effort to ... Not part of subscription