Overview

• Haemanthus, founded by Billy Evans in 2024, has raised $20 million and is seeking an additional $50 million to develop its diagnostic device.
• The startup’s prototype uses tunable lasers to analyze blood, saliva, and urine, with initial plans to focus on veterinary diagnostics before expanding to human trials.
• Marketing materials and patent filings reveal a device design that closely resembles Theranos’s Edison machine, sparking comparisons to the defunct company.
• Reports suggest Elizabeth Holmes, currently serving an 11-year prison sentence for fraud, has been advising Evans remotely, though the company denies her involvement.
• Haemanthus emphasizes that its approach differs from Theranos, claiming to use AI and photonics for molecular-level diagnostics with no current regulatory oversight.