Elizabeth Holmes allegedly backs new biotech venture while serving prison sentence

Elizabeth Holmes, founder of the collapsed Theranos scandal, is alleged to be shaping a new biotech startup called Haemanthus from her federal prison camp in Bryan, Texas. The company, headed by her husband Billy Evans, has attracted about $18 million in funding, with $3.5 million from personal networks and $15 million from external sources, yet it has no publicly listed scientific advisors or peer-reviewed research. Critics liken the venture to Theranos, describing it as a repeat of the previous fraud, and note that investors such as Jim Breyer and Michael Dell have refused to back it.

Holmes, who continues to assert her innocence, says she works daily on her research and remains committed to affordable healthcare. A documentary preview featuring Holmes has recently resurfaced, further drawing public attention to her ongoing activities behind bars.