Elizabeth Holmes and Billy Evans are once again making headlines in 2025. Despite Holmes serving an 11-year prison sentence following one of the most infamous corporate scandals in Silicon Valley history, her name is trending due to the launch of a new biotech startup, Haemanthus, spearheaded by her husband, Billy Evans. As the world watches this development unfold, questions arise: Is this redemption, a repeat of the past, or a new frontier in medical technology?
Who Is Elizabeth Holmes?
Elizabeth Holmes is the founder and former CEO of Theranos, a blood-testing startup that once claimed it could run hundreds of lab tests using just a few drops of blood. At its peak, Theranos was valued at over $9 billion, with Holmes hailed as the “female Steve Jobs.” However, investigations revealed that the company’s technology was fundamentally flawed and misleading.
In 2018, Holmes was charged with multiple counts of wire fraud and conspiracy to commit wire fraud. She was convicted in 2022 and began serving her prison sentence at Federal Prison Camp Bryan in Texas in May 2023. Her recent appeal to overturn her conviction was denied by the 9th U.S. Circuit Court of Appeals in April 2025, solidifying her status as one of the most notorious figures in tech history.
Billy Evans: Heir, Husband, and Now Biotech Founder
Billy Evans is the husband of Elizabeth Holmes and an heir to the Evans Hotels Group, a family-owned luxury hospitality company based in California. Despite his family’s background in the hotel business, Evans has pivoted into the life sciences space with the founding of Haemanthus, a new biotech company focusing on AI-powered diagnostics.
Evans and Holmes reportedly began dating in 2018 and got married in a private ceremony in 2019. The couple has two children: a son born in 2021 and a daughter born in 2023. Evans has been a constant figure of support throughout Holmes’ legal proceedings and incarceration, frequently visiting her and caring for their children.
Haemanthus: The New Biotech Startup in Focus
Launched in 2025, Haemanthus is Billy Evans’ venture into the world of medical diagnostics. The startup’s mission is to develop artificial intelligence tools to enhance and streamline blood testing, a goal that immediately draws comparisons to the failed promises of Theranos. The name “Haemanthus,” derived from a genus of flowering plants known for their bright red color, hints at the company’s focus on blood-based technologies.
Although details about Haemanthus remain limited, sources close to the company reveal that it is operating in stealth mode and has already raised millions in seed funding from private investors. The startup is reportedly building a team of experienced biomedical engineers, machine learning scientists, and regulatory experts to differentiate itself from Holmes’ failed enterprise.
Is Elizabeth Holmes Advising Haemanthus?
Multiple reports suggest that Elizabeth Holmes is informally advising Billy Evans on Haemanthus, despite her incarceration. While no formal role or compensation has been disclosed, insiders claim that Holmes provides input on business strategy and product development through written correspondence and during prison visits.
This alleged advisory role has triggered intense public scrutiny. Critics argue that Holmes, who was convicted of defrauding investors and endangering patients, should not be involved in any health-related business ventures. However, others suggest that her experience—albeit controversial—offers valuable insights into navigating the pitfalls of innovation and regulation in the medical tech industry.
Public Reaction to the Holmes–Evans Venture
The launch of Haemanthus has reignited public debate around corporate ethics, Silicon Valley accountability, and the fine line between innovation and deception. The optics of Holmes’ involvement, even if informal, are controversial. Public sentiment is divided:
- Skeptics worry that Evans’ startup could become “Theranos 2.0,” especially with Holmes potentially offering strategic guidance.
- Supporters argue that Haemanthus represents a new chapter and deserves to be evaluated on its own merit, particularly if it operates transparently and complies with federal regulations.
Online discussions and search trends show surging interest in terms like “Billy Evans biotech startup,” “Haemanthus Elizabeth Holmes,” and “new Theranos company.”
How Haemanthus Differs from Theranos
Despite surface-level similarities, Evans’ Haemanthus appears to be taking a more scientifically grounded approach:
- Regulatory Compliance: Haemanthus is reportedly engaging with the FDA early in the product development cycle, in stark contrast to Theranos’ secretive and often deceptive methods.
- Scientific Transparency: The startup is said to be collaborating with research institutions and is expected to publish peer-reviewed data—something Theranos never did.
- AI Integration: Rather than inventing a physical testing machine, Haemanthus focuses on using machine learning to optimize and interpret existing lab testing technologies, which may reduce risk and regulatory barriers.
These differentiators could make the startup more resilient to scrutiny and offer a path toward regaining public trust in tech-driven healthcare.
Investor Landscape
The investor community is cautiously watching Haemanthus. While some see a high-risk, high-reward opportunity, others fear reputational damage due to the company’s ties to Holmes. Key investor concerns include:
- Reputational Risk: Will association with Holmes deter partnerships or funding?
- Regulatory Risk: Will federal agencies impose additional scrutiny due to the founders’ background?
- Technological Viability: Can the startup deliver functional, verifiable products unlike Theranos?
Evans’ personal network and the media attention surrounding Holmes have helped attract interest, but long-term success will depend on technological performance and ethical governance.
The Role of AI in Medical Diagnostics
One of Haemanthus’ main selling points is its use of artificial intelligence to revolutionize diagnostic accuracy. The company aims to develop algorithms that can:
- Identify disease biomarkers more rapidly.
- Reduce diagnostic error rates.
- Enable early detection of chronic conditions through pattern recognition in blood data.
The use of AI in healthcare diagnostics is one of the fastest-growing sectors in biotech, with major companies like Google Health and IBM Watson previously exploring similar domains. If Haemanthus can differentiate itself through proprietary algorithms and rigorous validation, it could find a lucrative market.
Legal and Ethical Considerations
Given Elizabeth Holmes’ past and the nature of Haemanthus’ work, legal and ethical scrutiny is inevitable. Key points of concern include:
- Federal Oversight: The FDA, SEC, and FTC may closely monitor the startup’s activities and public claims.
- Conflict of Interest: If Holmes holds any undisclosed financial interest in Haemanthus, it could result in legal ramifications.
- Transparency: How the company communicates with investors, the public, and regulatory bodies will be critical in establishing legitimacy.
Ethical frameworks must be robust from the start. Any perceived attempt to bypass oversight could irreparably damage the startup’s credibility.
The Personal Lives of Elizabeth Holmes and Billy Evans
Despite the chaos surrounding her trial and conviction, Holmes and Evans have maintained their relationship. Evans frequently visits her at Federal Prison Camp Bryan, and the couple shares parenting responsibilities through letters and limited contact.
Holmes has spoken publicly about the pain of being separated from her children. In a rare interview before her incarceration, she emphasized her desire to be a present mother and the emotional toll of her sentence.
These personal aspects of their lives humanize the couple but also complicate public perceptions, especially as they re-enter the business world through Haemanthus.
Media Coverage and Public Perception
Media outlets across the political and business spectrum have picked up the story. From NPR to the Associated Press and tech-focused platforms, coverage emphasizes the novelty and risk associated with Billy Evans’ biotech venture. The media narrative often frames the story as:
- A possible redemption arc for the Holmes-Evans family.
- A second chance at transforming healthcare through technology.
- A potential scandal-in-the-making if transparency falters.
The power of the Elizabeth Holmes brand—positive or negative—is undeniable, and Haemanthus will continue to draw attention so long as her name is connected to it.
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What Comes Next for Haemanthus?
As of mid-2025, Haemanthus is still in its early stages. No public product demo has been held, and regulatory filings are minimal. But if the company’s claims are true, and it delivers scientifically sound, AI-enhanced diagnostic solutions, it could carve out a meaningful space in the healthcare market.
Whether the startup ultimately thrives or falters may depend less on its association with Holmes and more on its ability to prove its value through transparency, accuracy, and ethical business conduct.
Conclusion
The return of Elizabeth Holmes to the public conversation via Billy Evans’ biotech startup, Haemanthus, marks a critical moment in the ongoing dialogue around innovation, redemption, and ethics in technology. While her past casts a long shadow, the future of Haemanthus will depend on whether the company can separate itself from the legacy of Theranos and genuinely improve medical diagnostics through AI.
Billy Evans and Elizabeth Holmes are now inextricably tied not only by marriage and family, but by a shared ambition to redefine the future of healthcare—again.
