Theranos
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WSJ: Walgreens is waiting for answers about Theranos blood tests
Controversy has swirled around Silicon Valley startup Theranos ever since the Wall Street Journal reported the company has struggled to roll out its unique blood testing technology. Since 2013 Walgreens has partnered with Theranos to use it for blood testing in the Phoenix area, but now the Journal says the drugstore chain is looking for answers too. It claims that Walgreens found out from the reports that Theranos had stopped using its tiny "nanotainers" to collect blood for all but one type of test. In a statement provided to Engadget (you can read it in full after the break), Walgreens says "we are currently in discussions about the next phase of our relationship" and that the two are trying to figure out a mutually beneficial arrangement. Meanwhile, Theranos has maintained it is confident in the accuracy of its tests, and says that by being faster and cheaper they can identify health problems earlier.
Theranos CEO strikes back over blood test scrutiny (update from WSJ)
Last week, the Wall Street Journal published an article that raised some questions surrounding startup lab Theranos' claims that it can run a variety of blood tests with just a single finger-prick. Apparently the aforementioned finger-prick test have so far only been used to diagnose herpes (not the hundreds once promised) and some customers have reported wild inaccuracies with tests. Former employees have also come forward to the Journal accusing Theranos of poor practices like diluting blood samples for testing on commercially available machines. Today, Theranos CEO and founder Elizabeth Holmes attended an interview at WSJD Live (which is a conference put on by the Wall Street Journal) to address these accusations head on.
Startup lab Theranos scales back unique 'finger prick' blood tests
Theranos, the $9 billion Silicon Valley startup that promises blood test results with just a finger prick, is under serious scrutiny. According to The Wall Street Journal, FDA investigators recently showed up unannounced to inspect its laboratory, due to concerns about the data the company voluntarily submitted for approval of its testing methods. So far, the FDA has only approved one (for herpes) of the 100 Theranos tests waiting for its endorsement. Since the agency also marked the "nanotainers" -- containers that can keep tiny amounts of blood -- Theranos uses as "unapproved medical devices," the company was forced to stop drawing blood by pricking patients' fingers unless it's to check for herpes. In short, it has almost completely stopped doing what makes the startup unique, making it like any other lab, with needles, syringes and such. Update (10/16): Founder Elizabeth Holmes had an interview with Jim Cramer on CNBC today (you can view it after the break), and Theranos has published another blog post promising "Unprecedented transparency." It confirms that the finger prick tests are only being performed to check for herpes, saying that it sought out and asked the FDA to review and fully clear its technology for other tests.
Walgreens to offer affordable and needle-free blood tests in more stores (updated)
You might still think of Walgreens as a corner drugstore chain, but the company aims to be much more than that. In its quest to become a "healthcare leader," Walgreens recently teamed up with Silicon Valley startup Theranos, which boasts a new and innovative blood testing method developed by founder Elizabeth Holmes (above). In fact, a Walgreens in Palo Alto started offering blood tests from within its premises last year, followed by over 40 stores in Phoenix. Now, according to Walgreens exec Tim Theriault, the company could eventually offer this in-store blood test in locations across the country-- a move that has huge implications, as Theranos' tests are much cheaper, quicker to do and a lot more efficient than its more traditional counterparts.
