back to article Bio biz Theranos probed

Troubled blood-testing company Theranos has confirmed it is being investigated by the US Securities and Exchange Commission (SEC) and the US Attorney's Office over claims it misled investors and government officials. In a letter to its partners, the company said it felt obliged to provide information on ongoing investigations …

  1. a_yank_lurker

    Bloodletting has begun

    Theranos and Holmes are in the crosshairs of the ferals because of their own stupidity. The time to develop and certify a medical test is rather lengthy and expensive partly because of bureaucratic incompetence but also because one should be inherently cautious about approving a test until one is confident of its precision and accuracy (they mean different things to an analytical chemist). I doubt a Silicon Valley VC has that much experience with highly regulated industry like healthcare.

    Medical mistakes have a nasty habit of sometimes killing someone. That should be a sobering thought to anyone no matter what you do in the field.

    1. Anonymous Coward
      Anonymous Coward

      Re: Bloodletting has begun

      FYI, there are plenty of VCs in Silicon Valley who know about medical devices and pharmaceuticals and have made billions of $ off of successes in those fields here in the Bay Area and elsewhere.

      However, Theranos might have misled investors about the success and viability of its own tests, and kind of attempted to pump-and-dump the company, or kept the party going until their own test process was actually working.

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