Elizabeth Holmes's partner, Billy Evans, has secured millions in funding for his AI startup, Haemanthus, which aims to revolutionize medical testing. The company, named after the Greek term for "blood flower," is developing a product that leverages artificial intelligence and light detection technology for medical diagnostics and other applications.

Despite Holmes's ongoing 11-year prison sentence for defrauding investors in her blood-testing company, Theranos, she has been advising Evans on the new venture. While the specifics of her involvement remain unclear, sources indicate she provides guidance from the federal facility in Bryan, Texas. Holmes's support for Haemanthus marks a striking return to the biotech field, given her conviction for fraud within the same industry.

Haemanthus currently comprises about a dozen individuals, some of whom previously collaborated with Evans at Luminar Technologies, a developer of sensors for autonomous vehicles. Funding has primarily been sourced from Evans's network of friends, family, and supporters.

Holmes's legal troubles stem from allegations that she misled investors regarding Theranos's blood-testing technology. Despite evidence and witness testimonies during her trial, Holmes maintained her innocence. A federal appeals court recently upheld her conviction, and she faces a ban from serving as an officer or director of any public company for a decade, as part of a settlement with the Securities and Exchange Commission.

Despite these restrictions, Holmes plans a comeback to the healthcare sector upon her release from prison. In an interview with People magazine, she revealed her intention to resume her career in biotech and disclosed that she has been drafting patents for new inventions while incarcerated.

Haemanthus is currently focused on Raman spectroscopy, a technique with applications in diagnosing conditions such as ALS and certain cancers, as well as detecting explosives. The company aims to reduce the cost of this technology and make it accessible to patients outside of research labs. The potential consumer product is still under development.

The company's patent, granted in January, details the use of light detection technology for testing "biological material," including sweat, urine, saliva, and small blood samples. This technology has the potential to transform diagnostic testing methodologies.