Stealth Research and Theranos: Reflections and Update 1 Year Later
jama.jamanetwork.com
jama.jamanetwork.com
[0] http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1182327/?report=...
At its time of publication, that article was (I believe) the only one in the scientific literature that said anything about Theranos, and the company seemed to be pretty disconnected from the mainstream biotech research community. Holmes was probably only vaguely aware of Ioannidis' background.
At this point, I think we should assume that because Theranos won't publish any studies about the scientific foundations of their work in peer-reviewed journals or preprint sites, they have nothing of value to show us.
Now we have VC money being invested based on how well someone can pitch. This doesn't work for things which are technically hard. Hence Theranos, uBeam, and possibly Cruise.
For example Tesla and Space X seem like likely candidates, but Musk, and any founder with a billion dollar + exit, is an absolute cheat code in fund raising and can't be used as a standard for any normal company. And yes, most of the companies you mentioned are completely normal with founders who are categorically not Elon Musk, or in the case of Theranos, not Steve Jobs.
1. The America Invents Act (2011), with its new post-grant review provisions. Now, if you try to enforce a patent, the infringer can tie you up for a few years with review proceedings, which means the inventor has to spend money to defend the patent.
2. The eBay Inc. v. MercExchange, L.L.C. decision (2006), which made patent infringement injunctions much harder to get. This decision basically means that the worst thing that can happen to an infringer is that someday they have to pay royalties. It's essentially compulsory licensing of patents. So infringers have no incentive to negotiate.
3. The In re Seagate Tech decision (2007) and some related decisions changed the standard for willful infringement (and triple damages) to include a requirement of "reckless disregard", which is almost impossible to prove. These decisions also reduced the power of juries in patent cases.
It's also harder to get discovery in patent cases now, which means that if infringement can be kept a secret, it's usually possible to get away with it.
I am genetically disposed to hyperlipidemia and like to watch my cholesterol level as a tangible indicator/reward for my life style changes.
"Better financing and organization of health care and, perhaps, reduction of the profit margin could markedly decrease testing cost, even if very old (but appropriately validated) diagnostic technologies are used."
Reduced pricing was a hype created by Theranos. When we started working in this area, we found that if one is willing to pay out of pocket some labs will offer pricing very close to Theranos.
This is gold. Yesterday Theranos just voided its two years of testing results by its Edison.
That implies you have been saying this all along, in a forum that we would expect to have heard it, but yet you have not been heeded.
In my perspective, there is an element to your statement that is claiming authority, thus making you appear as a self-proclaimed expert.
Also, I agree that it seems likely Ms. Holmes will face criminal charges. It would have been one thing if Theranos simply substituted venous blood draws for nanodraws, pivoting to not use Edison. However, they not only did that, they denied this publicly, promised to release data showing the validity of their platform (neither of this are lawsuit-worthy) and then proceeded to provide false test results at a very high rate. The problem here is that Ms. Holmes would have to have known of this- she's the CEO of the company, in very tight contact with the labs, etc, holds nearly all the power, and is the ultimate decider. Because of that, she is the direct target of lawsuits.
I expect both government action (which is already ongoing; it's likely she will be sanctioned) and class action lawsuit.
Obviously, the above is speculation, based on my intuition of watching biotechs for 20+ years.