Elizabeth Holmes Is 'Shameless and Delusional,' Says Insider as She Plots Biotech Comeback From Prison Behind $18 Million Startup

Elizabeth Holmes is attempting to build a future in biotechnology while serving time for the massive fraud that brought down her company, Theranos.

The disgraced entrepreneur, 42, has reportedly remained involved behind the scenes as her husband, Billy Evans, works to develop a new blood-testing venture.

Evans, 33, is at the helm of Haemanthus, a health-tech startup developing technology designed to analyze blood with the help of lasers and artificial intelligence.

The company has reportedly secured about $18 million, including $3.5 million from friends and family and an additional $15 million from other investors, per The New York Times.

Holmes reportedly does not have an official position at Haemanthus.

However, reports have previously indicated that she has advised Evans about the business from prison, according to NPR.

The possibility of Holmes having a hand in another medical technology company has already prompted criticism from within Silicon Valley.

"She is shameless and delusional to think that she could be taken seriously again by any medical and biotech professionals," a biotech insider told The New York Post.

"This is completely a joke," the source added. "It sounds exactly like Theranos 2.0."

Holmes has continued to work even while serving her sentence.

"There is not a day I have not continued to work on my research and inventions," Holmes told People in an interview from prison. "I remain completely committed to my dream of making affordable healthcare solutions available to everyone."

Holmes' plans come more than a decade after Theranos became one of Silicon Valley's most closely watched startups.

Founded in 2003, the company claimed its technology could perform hundreds of blood tests using only a small sample.

The company's promises eventually collapsed under scrutiny, leading to Holmes' criminal conviction and a 10-year prison sentence.

Theranos ultimately shut down, while Holmes and former executive Ramesh "Sunny" Balwani were ordered to pay $452 million in restitution.

Holmes has continued to maintain her innocence.

Attention surrounding Holmes has increased with the upcoming release of "You Can See Everything," a documentary filmed during the final weeks before she surrendered to federal prison in 2023.

A clip was released over Labor Day weekend to promote the new film.

"Of course I'm not deceiving you. I'm engaging with you as a human being. Why would I deceive you? There's no reason for me to do that," she said in the footage.

The documentary follows Holmes, Evans, and their children before her incarceration.

After the convict went away to Federal Prison Camp Bryan in Texas, Evans took over her image and social media.

As of August 2025, Holmes's X account was reactivated with a bio that reads, "Mostly my words, posted by others," according to The New York Post.