The technologies may differ, but the functions remain the same. Haemanthus, a biologic testing startup founded by hotel heir Billy Evans—widely recognized as Elizabeth Holmes’ partner and father of her two children—has suddenly and bumpily emerged–kind of–from stealth mode. Coverage in the New York Times and NPR has drawn unfavorable comparisons to Theranos’ failed blood-testing venture and highlighted Evans’ connection to Holmes, who is currently serving an approximately 11 year sentence at the women’s Federal Prison Camp in Bryan, Texas.

Haemanthus, named after the Latin name for the blood lily plant, has developed a prototype box-like device (right) that uses Raman spectroscopy, using lasers, photonics, and other light technologies, coupled to AI-based software that analyzes biologic samples. The initial diagnostics will focus on pet diseases and the veterinary market before entering the human market, with the machine analyzing blood, saliva, and urine for biomarkers such as glucose and hormones. Deep learning models based in the software would then have the ability to detect diseases such as cancer and infections. Raman spectroscopy is already used in human diagnostics to analyze biomolecules like proteins, DNA, and lipids, as well as studying cell structure, tissue composition, and cellular processes. The company, in its investment materials, intends to develop a stamp-size, wearable device for humans.

The company, currently backed by Evans, has raised money from friends, family and other supporters so far, according to one of the sources quoted by NPR. The NYT stated that was a $3.5 million raise. This spring, Evans has been reaching out to other investors in Austin, where he lives with the children, and the Bay Area. The goal is eventually $50 million. To expand to humans after pets, their investor materials state that it will take three years and a total raise of $70 million.

James Breyer of the eponymous Breyer Capital was approached for investment but turned it down for the same reasons as he did Theranos, twice. Michael Dell also passed, according to the NYT. A local investor the NYT identified is Matthew E. Parkhurst, an investor who is also the part owner of a Mediterranean tapas bar in downtown Austin.

The NYT article brings up regulatory oversight. The USDA, the US Department of Agriculture, regulates veterinary medicine and diagnostics. Yet Mr. Evans sent to the NYT a partially redacted document from the USDA that said, “It does not appear that the proposed product is within the regulatory jurisdiction” of the Center for Veterinary Biologics, which is a part of the USDA.” 

What has created the most news is that the NPR article explicitly stated that Elizabeth Holmes was advising Evans on the startup, without specifics on what and how. The company reportedly has about 12 employees, some of whom worked at Evans’ prior venture, Luminar Technologies, a developer of autonomous vehicle sensors, according to the company’s patent and Delaware incorporation paperwork.

The two articles generated enough stir that Haemanthus took to X on 11 May to state in several tweets (samples below):

Fast Company and the Mercury News also review Haemanthus’ sudden emergence. Hat tip to HIStalk 5/12/25

Elizabeth Holmes will likely be remaining in Bryan for the remainder of her sentence. The Ninth Circuit US Court of Appeals rejected her petition last week to have a full en banc or original panel review of her fraud conviction appeal. The District Court’s sentence of both Holmes and Sunny Balwani were upheld in February [TTA 5 Mar]. “The full court has been advised of the petition for rehearing en banc, and no judge of the court has requested a vote on whether to rehear the matter en banc,” the panel said in its short, four-sentence order. Unless the US Supreme Court issues a highly unlikely writ of certiorari based on her petition, this is the end of her long-running courtroom drama. Her 11 year sentence is at this point at about two years served with additional reductions of two years and four months, now with a release date of 18 February 2032.  There is also a small matter of Holmes and Balwani paying back $452 million in restitution for their fraud. Courthouse News Service, CNBC  

The only discussion of Balwani’s separate petition for a review (Court Listener) has been on Reddit by legal maven mattschwink. Balwani’s argument for a rehearing is based upon an assertion that a witness, investor Brian Tolbert, lied on the stand about being told by Holmes on an investor call that the Theranos machines were being used on Afghanistan medevac helicopters. The investor call was not played, nor the testimony brought up at Balwani’s trial, which based on precedent may constitute withholding of exculpatory evidence. In his view, this is likely not enough to constitute a falsehood by the prosecution.

Regardless of whether Haemanthus’ denials of Holmes’ “advisory services” are true, it’s unlikely that Holmes could provide substantial guidance to the company beyond brief, casual talks during Billy Evans’ visits—especially considering whether such activities are allowed while residing in an FPC.