[{"data":1,"prerenderedAt":459},["ShallowReactive",2],{"slug-digital-health-ventures-that-flew-too-close-to-the-sun":3},{"post":4,"relatedPosts":205,"relatedBooks":369},{"id":5,"date":6,"date_gmt":7,"guid":8,"modified":10,"modified_gmt":11,"slug":12,"status":13,"type":14,"link":15,"title":16,"content":18,"excerpt":21,"author":23,"featured_media":24,"comment_status":25,"ping_status":25,"sticky":26,"template":27,"format":28,"meta":29,"categories":30,"tags":35,"project_category":50,"contact_email_category":56,"yst_prominent_words":57,"class_list":78,"better_featured_image":108,"acf":141,"yoast_meta":149,"_links":152},28985,"2020-07-07T10:00:00","2020-07-07T08:00:00",{"rendered":9},"https:\u002F\u002Fmedicalfuturist.com\u002F?post_id=28985&_wpnonce=7f55feb431&status=auto-draft&type=post","2020-07-06T23:41:23","2020-07-06T21:41:23","digital-health-ventures-that-flew-too-close-to-the-sun","publish","post","https:\u002F\u002Fmedicalfuturist.com\u002Fdigital-health-ventures-that-flew-too-close-to-the-sun",{"rendered":17},"Digital Health Ventures That Flew Too Close To The Sun",{"rendered":19,"protected":20},"\n\u003Cp>1.5 billion: that’s the number, in dollars, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fangelauyeung\u002F2019\u002F04\u002F01\u002Ftake-your-medicine-this-15-billion-health-startups-smart-pills-keep-patients-from-forgetting\u002F#7d981d954d74\" target=\"_blank\">Forbes put for Proteus’ valuation\u003C\u002Fa> last year. Dubbed as a healthcare unicorn, the startup even \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2020\u002F06\u002F15\u002Fproteus-digital-health-once-worth-1point5-billion-files-for-chapter-11.html\" target=\"_blank\">raised over $500 million\u003C\u002Fa> in venture capital. It made headlines for developing the first-ever \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fcontent\u002Fotsuka-proteus-finally-win-fda-approval-sensor-equipped-abilify\" target=\"_blank\">FDA-approved digital pill\u003C\u002Fa>, one equipped with an ingestible and trackable sensor to monitor treatment compliance. \u003C\u002Fp>\n\n\n\n\u003Cp>Researchers even proved the technology’s worth. In 2019, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fnorth-america\u002Fstudy-proteus-digital-pill-system-accurate-improved-adherence-among-california-tb\" target=\"_blank\">an independent study\u003C\u002Fa> investigated the Proteus’ digital pill. They found it to be accurate, and even improved adherence of tuberculosis patients using oral pills equipped with Proteus’ system.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"512\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Fdigital-pill-768x512.jpg\" alt=\"\" class=\"wp-image-28951\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Fdigital-pill-768x512.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Fdigital-pill-1536x1024.jpg 1536w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Fdigital-pill.jpg 1600w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \u002F>\u003Cfigcaption>https:\u002F\u002Fwww.engadget.com\u002F\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>How then, did this company \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2020\u002F06\u002F15\u002Fproteus-digital-health-once-worth-1point5-billion-files-for-chapter-11.html\" target=\"_blank\">file for bankruptcy in June 2020\u003C\u002Fa>? As the technology is sound, it’s another factor altogether that’s the culprit here: the human factor. The management failed to reach certain milestones within deadlines \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fmedcitynews.com\u002F2020\u002F06\u002Fproteus-files-for-bankruptcy-where-did-it-falter\u002F?rf=1\" target=\"_blank\">under pressure from major investments\u003C\u002Fa>. Couple that with an off-putting \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fjohnlamattina\u002F2019\u002F07\u002F22\u002Fsmart-pill-schizophrenia-drug-unlikely-to-move-payers\u002F?utm_source=Triggermail&utm_medium=email&utm_campaign=Post%20Blast%20%28bii-digital-health%29:%20Smart%20pills%20don%27t%20live%20up%20to%20the%20hype%2C%20yet%20%7C%20Google%20unveils%20novel%20diagnostic%20AI%20%7C%20Anthem%20narrows%20in%20on%20young%20consumers%20with%20new%20tool&utm_term=BII%20List%20Digital%20Health%20ALL#51c86bcc65d0\" target=\"_blank\">price tag of $1,650\u003C\u002Fa> per month, while the generic drug \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Facademic.oup.com\u002Fehjcvp\u002Farticle-abstract\u002F6\u002F2\u002F72\u002F5588932\" target=\"_blank\">costs less than $20\u003C\u002Fa> monthly, it failed to find adopters quickly. This caused the company to \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2019\u002F12\u002F08\u002Fproteus-digital-struggles-to-raise-cash-after-1point5-billion-valuation.html\" target=\"_blank\">struggle financially\u003C\u002Fa>, to furlough most of its employees and earlier this year, Proteus’ major \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.statnews.com\u002F2020\u002F01\u002F14\u002Fproteus-otsuka-key-pharma-partnership-unravels\u002F\" target=\"_blank\">partnership fell through\u003C\u002Fa>.\u003C\u002Fp>\n\n\n\n\u003Cp>Tales of companies coming up with promising technologies offering wild possibilities and amassing investments from leading investors are rampant in the industry. And it’s not just startups, but also Big Tech companies that suffer from mismanagement issues. These management failures happen at the expense of promising technologies, preventing their benefits from reaching patients.\u003C\u002Fp>\n\n\n\n\u003Cp>However, even if the biggest player of a trend goes down, it doesn’t mean that the technology itself is defective. It only means that the people behind it, its finances or management issues led to the demise of the company and usher a challenging path for the technology to grow. While we \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fmedicalfuturist.com\u002Ffrom-theranos-to-google-glass-the-biggest-flops-in-digital-health\u002F\" target=\"_blank\">previously focused on the technologies and why they failed\u003C\u002Fa>, we now turn our attention to the human element that failed technologies.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Moonshot promise\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Despite their unceremonious demise, failed digital health ventures began with solutions to pressing issues within the healthcare sector. Their sales pitch usually revolves around how their technology will upend the status quo with a radical approach, that’s their so-called moonshot promise for earthly problems.\u003C\u002Fp>\n\n\n\n\u003Cp>Let’s take three such concrete examples from startups to Tech Giants which over-promised, yet under-delivered. As we’ll see, it’s often due to human greed that led to hampered technological progress due to the ensuing reduced investments.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>1. Digitising pills to tackle compliance and save lives\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Worldwide, only \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fangelauyeung\u002F2019\u002F04\u002F01\u002Ftake-your-medicine-this-15-billion-health-startups-smart-pills-keep-patients-from-forgetting\u002F#12229f034d74\" target=\"_blank\">an estimated 25-50% of patients\u003C\u002Fa> take their medications accurately. In the U.S., such lack of treatment adherence \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.ncbi.nlm.nih.gov\u002Fpmc\u002Farticles\u002FPMC3934668\u002F\" target=\"_blank\">leads to $100 billion to $300 billion\u003C\u002Fa> in preventable healthcare costs. Importantly, it \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.ncbi.nlm.nih.gov\u002Fpmc\u002Farticles\u002FPMC6049050\u002F\" target=\"_blank\">leads to some 125,000 annual deaths\u003C\u002Fa> in the country.\u003C\u002Fp>\n\n\n\n\u003Cp>Proteus’ digital pill technology aimed to put a dent in those numbers. Via an ingestible sensor embedded in a pill that communicates with a patch and app, doctors can track patients’ adherence thanks to Proteus’ system. For chronic care or psychiatric patients with trouble managing multiple medications or those with compliance challenges, this approach was a game changer. This enticed investors enough to support the startup’s ambitious goals.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"721\" height=\"481\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002Fproteus-digital-pill.jpeg\" alt=\"\" class=\"wp-image-28987\"\u002F>\u003Cfigcaption>Source: https:\u002F\u002Fwww.fiercebiotech.com\u002F\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>However, even though the aforementioned \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fnorth-america\u002Fstudy-proteus-digital-pill-system-accurate-improved-adherence-among-california-tb\" target=\"_blank\">independent study\u003C\u002Fa> had a positive conclusion, others had different arguments. A 2019 \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Febm.bmj.com\u002Fcontent\u002F24\u002F6\u002F231.abstract\" target=\"_blank\">British Medical Journal paper\u003C\u002Fa> found “no evidence of better adherence with the digital version of aripiprazole compared with the non-digital version.”\u003C\u002Fp>\n\n\n\n\u003Cp>Couple this uncertainty with its effectiveness and the off-putting price, no wonder that patients \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2019\u002F12\u002F08\u002Fproteus-digital-struggles-to-raise-cash-after-1point5-billion-valuation.html\" target=\"_blank\">did not adopt their solution\u003C\u002Fa> as much as expected. Moreover, this made it difficult for the company’s top talents to stay, some of whom had \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2019\u002F12\u002F08\u002Fproteus-digital-struggles-to-raise-cash-after-1point5-billion-valuation.html\" target=\"_blank\">started to leave back in 2018\u003C\u002Fa>.\u003C\u002Fp>\n\n\n\n\u003Cp>These issues did not falter the company’s ambitions as it expanded its reach into studies and pilot programs for \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.pulse.com.gh\u002Fbi\u002Ftech\u002Fa-company-that-makes-smart-pills-that-track-when-you-take-your-medicine-and-how\u002Fyrqcegb\" target=\"_blank\">cancer treatment\u003C\u002Fa>, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fnorth-america\u002Fstudy-proteus-digital-pill-system-accurate-improved-adherence-among-california-tb\" target=\"_blank\">antibiotic therapy\u003C\u002Fa> and \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fnorth-america\u002Fhcv-patients-risk-nonadherence-using-proteus-digital-pill-achieve-sustained-viral\" target=\"_blank\">viral suppression medication\u003C\u002Fa>. Still being unable to meet the investors’ expectations, the company slowly \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.cnbc.com\u002F2019\u002F12\u002F08\u002Fproteus-digital-struggles-to-raise-cash-after-1point5-billion-valuation.html\" target=\"_blank\">ran out of finances,\u003C\u002Fa> leading to its eventual crash. Rather than focus, iterate and improve its product on a specific patient segment, the management wanted too much, too soon.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>2. One drop to replace all blood tests\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Investors were also interested in what Elizabeth Holmes promised with Theranos. The now-notorious CEO vaunted Theranos’ proprietary technology as being able to perform multiple tests from a tiny drop of blood \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.theguardian.com\u002Fcommentisfree\u002F2018\u002Fjun\u002F03\u002Ftheranos-elizabeth-holmes-media-emperors-new-startup\" target=\"_blank\">for a mere $2.90\u003C\u002Fa>, when standard blood tests cost $50. All this without the need for uncomfortable needles. Holmes would even pitch it as “the iPod of healthcare.” Her clever yet deceitful, marketing strategy yielded \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.theguardian.com\u002Fcommentisfree\u002F2018\u002Fjun\u002F03\u002Ftheranos-elizabeth-holmes-media-emperors-new-startup\" target=\"_blank\">$400m from investors\u003C\u002Fa> eager for a piece of this disruption. \u003C\u002Fp>\n\n\n\n\u003Cp>She made history as the youngest self-made female billionaire in history, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.theguardian.com\u002Fcommentisfree\u002F2018\u002Fjun\u002F03\u002Ftheranos-elizabeth-holmes-media-emperors-new-startup\" target=\"_blank\">valued at $10 billion\u003C\u002Fa>. An icon and role-model who was unfortunately hiding a vicious self behind a facade. Following reports from a whistleblower, the Wall Street Journal’s investigative reporter, John Carreyrou, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.pulse.com.gh\u002Fbi\u002Ftech\u002Fthe-reporter-who-broke-the-theranos-saga-wide-open-pinpoints-the-moment-he-knew-he\u002Fxmbl8zp\" target=\"_blank\">discovered Theranos’ false claims\u003C\u002Fa>. Indeed, the Security and Exchange Commission (SEC) later \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fmedicalfuturist.com\u002Fwhere-does-blood-testing-stand-today\u002F\" target=\"_blank\">charged Holmes with “massive fraud”\u003C\u002Fa>.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"393\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-768x393.jpg\" alt=\"Theranos - Digital Health in 2016\" class=\"wp-image-14666\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-768x393.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-512x262.jpg 512w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-458x234.jpg 458w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes.jpg 870w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \u002F>\u003Cfigcaption>Source: www.wsj.com\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>The startup’s proprietary kit was, in fact, unreliable. It further lacked independent, peer-reviewed testing. Additionally, they faked some demonstrations, with blood samples secretly tested on regular devices. Following these investigations, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.theguardian.com\u002Fcommentisfree\u002F2018\u002Fjun\u002F03\u002Ftheranos-elizabeth-holmes-media-emperors-new-startup\" target=\"_blank\">Holmes and her executives\u003C\u002Fa> even went to harass suspected whistleblowers within the company and tried to intimidate Carreyrou.\u003C\u002Fp>\n\n\n\n\u003Cp>It didn’t end well for Holmes & co. The FDA \u003Ca href=\"https:\u002F\u002Fwww.theverge.com\u002F2015\u002F10\u002F27\u002F9621026\u002Ffda-theranos-lab-quality-inspection-elizabeth-holmes\">found multiple\u003C\u002Fa>\u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.theverge.com\u002F2015\u002F10\u002F27\u002F9621026\u002Ffda-theranos-lab-quality-inspection-elizabeth-holmes\" target=\"_blank\"> violations\u003C\u002Fa> in Theranos’ practices, Holmes received a $500,000 fine and had to relinquish control over the company; she was also barred from being an officer or director of any public company for 10 years.\u003C\u002Fp>\n\n\n\n\u003Cp>Holmes’ unruly management left a bitter taste across the medical industry and is now a cautionary tale for investors.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>3. Making cancer a thing of the past with artificial intelligence\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Not only startups, but even Tech Giants share similar stories. IBM repurposed its trademark Watson A.I. for healthcare purposes. Its Watson for Oncology branch teamed with MD Anderson Cancer Center on the mission “to eradicate cancer”. Quite a laudable goal, but it was never met. After four years and \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.biospace.com\u002Farticle\u002Fibm-watson-layoffs-is-healthcare-ai-ready-for-prime-time-\u002F\" target=\"_blank\">over $62 million\u003C\u002Fa> in costs, MD Anderson terminated the partnership. Among the causes were poor management in streamlining the technology as they \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.beckershospitalreview.com\u002Fhealthcare-information-technology\u002F5-things-to-know-about-the-md-anderson-ibm-watson-breakup.html\" target=\"_blank\">refocused it multiple times\u003C\u002Fa>.\u003C\u002Fp>\n\n\n\n\u003Cp>Additionally, several reports contested Watson for Oncology’s efficacy in 2018, and even pointed out potential risks to patients’ safety. A \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.statnews.com\u002F2018\u002F07\u002F25\u002Fibm-watson-recommended-unsafe-incorrect-treatments\u002F\" target=\"_blank\">Stat News report\u003C\u002Fa> revealed information from internal IBM documents. These showed that Watson “often spit out erroneous cancer treatment advice”. Additionally, company medical specialists and customers identified “multiple examples of unsafe and incorrect treatment recommendations”. Another report from \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.wsj.com\u002Farticles\u002Fibm-bet-billions-that-watson-could-improve-cancer-treatment-it-hasnt-worked-1533961147\" target=\"_blank\">The Wall Street Journal documented how\u003C\u002Fa> “more than a dozen IBM partners and clients have halted or shrunk Watson’s oncology-related projects”.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"563\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F04\u002Falphago-in-healthcare-IBM1-768x563.jpg\" alt=\"IBM Watson in healthcare\" class=\"wp-image-13562\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F04\u002Falphago-in-healthcare-IBM1-768x563.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F04\u002Falphago-in-healthcare-IBM1-512x375.jpg 512w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F04\u002Falphago-in-healthcare-IBM1-341x250.jpg 341w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F04\u002Falphago-in-healthcare-IBM1.jpg 800w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \u002F>\u003Cfigcaption>Source: www.time.com\n\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>Elsewhere, IBM also branched its A.I. into genomics used across the world from \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fnewsroom.ibm.com\u002F2019-05-31-IBM-Watson-Health-Presents-New-Data-Demonstrating-Real-World-Progress-of-AI-in-Oncology-at-2019-ASCO-Annual-Meeting\" target=\"_blank\">South Korea\u003C\u002Fa> to \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.ibm.com\u002Fcase-studies\u002Fgermano-de-sousa-group-saas-watson-health\" target=\"_blank\">Portugal\u003C\u002Fa>. The Hôpitaux Universitaires Genève (HUG) in Switzerland \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.labiotech.eu\u002Fgenomics\u002Fibm-watson-genomics-european-hospital\u002F\" target=\"_blank\">announced in late 2019\u003C\u002Fa> that it would be the first European university hospital to integrate Watson for Genomics. The A.I. will help physicians select the most appropriate treatment for patients based on their DNA.\u003C\u002Fp>\n\n\n\n\u003Cp>Watson’s is yet another tale about a company wanting too much and branching out, at the expense of refining the technology before deploying it at a larger scale.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Jeopardising promising tech\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Such failures from prominent industry players don’t leave others unscathed either. With these setbacks, investors will think twice before showing interest in companies coming up with similar technologies. \u003C\u002Fp>\n\n\n\n\u003Cp>In late 2019, Proteus’ competitor, etectRx, had its “smart pill” \u003Ca href=\"https:\u002F\u002Fmedcitynews.com\u002F2019\u002F12\u002Fnew-smart-pill-maker-gains-fda-approval\u002F?rf=1\" target=\"_blank\" rel=\"noreferrer noopener\">approved by the FDA\u003C\u002Fa>. While this was good news, it might be short lived as potential investors could be wary following Proteus’ story.\u003C\u002Fp>\n\n\n\n\u003Cp>Similarly, IBM Watson’s concerns and numerous terminated partnerships don’t bode well for others venturing in the field of medical A.I. Already there are \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fblog.benchsci.com\u002Fstartups-using-artificial-intelligence-in-drug-discovery\" target=\"_blank\">over 230 startups\u003C\u002Fa> using this technology for drug discovery alone, \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fmedicalfuturist.com\u002Ftop-companies-using-a-i-in-drug-discovery-and-development\u002F\" target=\"_blank\">many with record-breaking results\u003C\u002Fa>. Investors, however, will tread carefully given the mishap of a Tech Giant like IBM.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"401\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Ffuture-analysis-768x401.png\" alt=\"\" class=\"wp-image-28537\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Ffuture-analysis-768x401.png 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F06\u002Ffuture-analysis.png 1200w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \u002F>\u003Cfigcaption>Source: https:\u002F\u002Fwww.salesforce.com\u002F\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>Even Theranos’ one-drop blood test isn’t only PR-hype if you lower the expectations; as other companies working on similar paths can attest. From a small blood sample, Genalyte uses its Maverick Diagnostic System (MDS) technology to run multiple, simultaneous, rapid tests and output a result within 20 minutes. The FDA even \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.genalyte.com\u002Fclinical\u002F\" target=\"_blank\">cleared its MDS tech \u003C\u002Fa>in 2019. \u003C\u002Fp>\n\n\n\n\u003Cp>Another company, \u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002Fabout\u002Ftechnology\" target=\"_blank\" rel=\"noreferrer noopener\">Nightingale\u003C\u002Fa>, uses nuclear magnetic resonance and its proprietary software to analyse numerous biomarkers in a single blood sample. As a means to be more transparent, the company teamed with researchers and \u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002Fpublications\">over 250 stu\u003C\u002Fa>\u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002Fpublications\" target=\"_blank\" rel=\"noreferrer noopener\">d\u003C\u002Fa>\u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002Fpublications\">ies\u003C\u002Fa> have applied their method.\u003C\u002Fp>\n\n\n\n\u003Cp>The point here is that even if the technology is proven to be effective, the antecedent of ill-fated, prominent figures could hamper growth in this sector. Their stories, with the negative image garnered by the management, will have a ripple effect on other emerging competitors bringing otherwise proven methods. With less investment, growth in these areas will stifle. But all might not be lost.\u003C\u002Fp>\n\n\n\n\u003Cp>“It’s going to be a hard road ahead,” \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fmedcitynews.com\u002F2020\u002F06\u002Fproteus-files-for-bankruptcy-where-did-it-falter\u002F?rf=1\" target=\"_blank\">said Vasudev Bailey\u003C\u002Fa>, a partner at ARTIS Ventures, regarding Proteus’ case. “I think this (technology) will find a home to live in and people will still advance this. So much work and effort goes into developing these things. You still want someone’s life to get better.”\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>\u003Cem>Deus ex machina\u003C\u002Fem>\u003C\u002Fstrong>\u003Cstrong>?\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>In movie lingo, \u003Cem>deus ex machina\u003C\u002Fem> (meaning ‘god from the machine’ in Latin) is a phenomenon where an unexpected occurrence solves an apparently unresolvable situation. Remember the eagles appearing out of nowhere to save the day in \u003Cem>Lord of the Rings: The Return of the King\u003C\u002Fem>?\u003C\u002Fp>\n\n\n\n\u003Cp>In the digital health timeline of failed companies, a similar fate could await their technologies; particularly if they are proven to be effective. Help can come unexpectedly from the outside to give those technologies a boost.\u003C\u002Fp>\n\n\n\n\u003Cp>In fact, Otsuka Pharmaceutical, Proteus’ former major partner, is looking into acquiring Proteus’ technology. And Otsuka is apparently \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fdigital-pill-maker-proteus-digital-health-files-bankruptcy\" target=\"_blank\">not the only one interested\u003C\u002Fa> in this opportunity. As we saw earlier, digital pills do work; and for certain patient groups such as those having difficulties to cooperate, it can be a game changer. That’s what those companies are betting on.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-large\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"504\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002Fdeus-ex-machina-helping-hand-768x504.png\" alt=\"\" class=\"wp-image-28989\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002Fdeus-ex-machina-helping-hand-768x504.png 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002Fdeus-ex-machina-helping-hand.png 807w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \u002F>\u003Cfigcaption>Source: https:\u002F\u002Ftheeconreview.com\u002F\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>Indeed, Otsuka further stressed its commitment to the digital pill it worked on with Proteus. “We want to make it clear that this development is not expected to have an impact on our digital medicine program,” \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fnews\u002Fdigital-pill-maker-proteus-digital-health-files-bankruptcy\" target=\"_blank\">an Otsuka representative said\u003C\u002Fa>. “Otsuka remains committed to building a successful digital healthcare business that includes digital medicine as well as digital therapeutics.”\u003C\u002Fp>\n\n\n\n\u003Cp>Similarly for A.I. in cancer treatment, \u003Ca href=\"https:\u002F\u002Fmedicalfuturist.com\u002Ftop-artificial-intelligence-companies-in-healthcare\u002F\">other companies\u003C\u002Fa> are treading the same path as IBM Watson. In particular, Google’s DeepMind branch is showing promise. Its A.I.-based algorithm made significant progress \u003Ca href=\"https:\u002F\u002Fblog.google\u002Ftechnology\u002Fhealth\u002Flung-cancer-prediction\u002F\" target=\"_blank\" rel=\"noreferrer noopener\">in identifying lung\u003C\u002Fa> and breast cancer, even \u003Ca href=\"https:\u002F\u002Fwww.cnbc.com\u002F2020\u002F01\u002F02\u002Fgoogles-deepmind-ai-beats-doctors-in-breast-cancer-screening-trial.html\" target=\"_blank\" rel=\"noreferrer noopener\">beating human experts\u003C\u002Fa> to the punch. Where one Tech Giant failed, another one with similar, if not more, resources can pick up where it left off.\u003C\u002Fp>\n\n\n\n\u003Cp>Other companies working on multiple diagnostic tests from small blood samples aim to repair the damage done by Theranos. While they will inevitably be compared to the latter for years to come, by \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.marketwatch.com\u002Fstory\u002Fhow-blood-testing-startups-are-pitching-themselves-after-theranos-scandal-2018-06-22\" target=\"_blank\">being more transparent\u003C\u002Fa>, they can work on overcoming this stigma. Genalyte \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fwww.genalyte.com\u002Fclinical\u002F\" target=\"_blank\">openly shares information\u003C\u002Fa> about its MDS technology. We mentioned Nightingale and the \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fnightingalehealth.com\u002Fpublications\" target=\"_blank\">250 studies\u003C\u002Fa> having applied their method. Another company, Athelas, that analyses blood cells crucial for cancer patients within minutes from a single blood drop \u003Ca rel=\"noreferrer noopener\" href=\"https:\u002F\u002Fathelas.com\u002Ffda\" target=\"_blank\">worked together with the FDA\u003C\u002Fa> from Day 1.\u003C\u002Fp>\n\n\n\n\u003Cp>Despite the struggles of one company, the benefits of its novel approach to address important health issues are there to attest to its efficacy. Other companies can adopt the technology and develop it further, with better management.\u003C\u002Fp>\n",false,{"rendered":22,"protected":20},"\u003Cp>The biggest player of a trend going down doesn’t mean that the technology doesn’t work, it means the people behind it, the company, its finances or management issues meant the end of the company.\u003C\u002Fp>\n",16,29035,"closed",true,"","standard",{"_acf_changed":20,"footnotes":27},[31,32,33,34],504,521,490,488,[36,37,38,39,40,41,42,43,44,45,46,47,48,49],531,5039,550,5041,5043,5045,134,163,281,1056,4979,1346,4983,5037,[51,52,53,54,55],947,948,949,950,952,[],[58,59,60,61,62,63,64,65,66,67,68,69,70,71,72,73,74,75,76,77],1617,4987,1631,4989,1681,5001,1719,5005,2877,5007,2935,5009,2955,5011,4363,5017,5027,5033,1613,4985,[79,14,80,81,82,83,84,85,86,87,88,89,90,91,92,93,94,95,96,97,98,99,100,101,102,103,104,105,106,107],"post-28985","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-future-medicine","category-future-of-pharma","category-genomics","tag-google-deepmind","tag-tech-giants","tag-theranos","tag-finances","tag-otsuka","tag-nightingale","tag-ai","tag-cancer-2","tag-ibm","tag-watson","tag-digital-pill","tag-fail","tag-proteus","tag-deus-ex-machina","project_category-company","project_category-developers","project_category-educators","project_category-medical-professionals","project_category-policy-makers",{"id":24,"alt_text":27,"caption":109,"description":110,"media_type":111,"media_details":112,"post":5,"source_url":140},"The end of Proteus is not the end of the digital pill concept, and this is also valid to other failures in healthcare, too.","The biggest player of a trend going down doesn't mean that the technology doesn't work, it means the people behind it, the company, its finances or management issues meant the end of the company.","image",{"width":113,"height":114,"file":115,"sizes":116,"image_meta":138},1920,1080,"2020\u002F07\u002F186_tmf-01.png",{"medium":117,"large":123,"thumbnail":128,"medium_large":132,"1536x1536":133},{"file":118,"width":119,"height":120,"mime-type":121,"source_url":122},"186_tmf-01-370x208.png","370","208","image\u002Fpng","https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F186_tmf-01-370x208.png",{"file":124,"width":125,"height":126,"mime-type":121,"source_url":127},"186_tmf-01-768x432.png","768","432","https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F186_tmf-01-768x432.png",{"file":129,"width":130,"height":130,"mime-type":121,"source_url":131},"186_tmf-01-150x150.png","150","https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F186_tmf-01-150x150.png",{"file":124,"width":125,"height":126,"mime-type":121,"source_url":127},{"file":134,"width":135,"height":136,"mime-type":121,"source_url":137},"186_tmf-01-1536x864.png","1536","864","https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F186_tmf-01-1536x864.png",{"aperture":139,"credit":27,"camera":27,"caption":27,"created_timestamp":139,"copyright":27,"focal_length":139,"iso":139,"shutter_speed":139,"title":27,"orientation":139},"0","https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F186_tmf-01.png",{"cta_type":142,"cta_color":27,"subtitle":27,"related_books":143,"related_posts_footer":146,"related_posts":20},"subscribe",[144,145],24765,24761,[147,148],24961,22248,{"yoast_wpseo_title":150,"yoast_wpseo_metadesc":151,"yoast_wpseo_canonical":15},"Digital Health Ventures That Flew Too Close To The Sun - The Medical Futurist","The biggest player of a trend going down doesn't mean that the technology doesn't work: it means the people, the company, its finances or management didn't.",{"self":153,"collection":159,"about":162,"author":165,"replies":168,"version-history":171,"predecessor-version":175,"wp:featuredmedia":179,"wp:attachment":182,"wp:term":185,"curies":201},[154],{"href":155,"targetHints":156},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fposts\u002F28985",{"allow":157},[158],"GET",[160],{"href":161},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fposts",[163],{"href":164},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Ftypes\u002Fpost",[166],{"embeddable":26,"href":167},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fusers\u002F16",[169],{"embeddable":26,"href":170},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fcomments?post=28985",[172],{"count":173,"href":174},13,"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fposts\u002F28985\u002Frevisions",[176],{"id":177,"href":178},29043,"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fposts\u002F28985\u002Frevisions\u002F29043",[180],{"embeddable":26,"href":181},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fmedia\u002F29035",[183],{"href":184},"https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fmedia?parent=28985",[186,189,192,195,198],{"taxonomy":187,"embeddable":26,"href":188},"category","https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fcategories?post=28985",{"taxonomy":190,"embeddable":26,"href":191},"post_tag","https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Ftags?post=28985",{"taxonomy":193,"embeddable":26,"href":194},"project_category","https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fproject_category?post=28985",{"taxonomy":196,"embeddable":26,"href":197},"contact_email_category","https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fcontact_email_category?post=28985",{"taxonomy":199,"embeddable":26,"href":200},"yst_prominent_words","https:\u002F\u002Fapi.medicalfuturist.com\u002Fwp-json\u002Fwp\u002Fv2\u002Fyst_prominent_words?post=28985",[202],{"name":203,"href":204,"templated":26},"wp","https:\u002F\u002Fapi.w.org\u002F{rel}",[206],{"id":148,"date":207,"date_gmt":208,"guid":209,"modified":211,"modified_gmt":212,"slug":213,"status":13,"type":14,"link":214,"title":215,"content":217,"excerpt":219,"author":221,"featured_media":222,"comment_status":25,"ping_status":25,"sticky":26,"template":27,"format":28,"meta":223,"categories":224,"tags":227,"project_category":240,"contact_email_category":241,"yst_prominent_words":242,"class_list":262,"better_featured_image":278,"acf":314,"yoast_meta":323,"_links":326},"2018-11-03T13:51:54","2018-11-03T11:51:54",{"rendered":210},"https:\u002F\u002Fmedicalfuturist.com\u002F","2022-05-27T09:52:37","2022-05-27T07:52:37","where-does-blood-testing-stand-today","https:\u002F\u002Fmedicalfuturist.com\u002Fwhere-does-blood-testing-stand-today",{"rendered":216},"Where Does Blood Testing Stand Today?",{"rendered":218,"protected":20},"\n\u003Ctable style=\"width: 100%; border-collapse: collapse; background-color: #eee; border-top: 4px solid #444;\" cellpadding=\"5px\">\n\u003Ctbody>\n\u003Ctr>\n\u003Ctd style=\"width: 100%;\">\n\u003Cp style=\"color: #555;font-size: 12px;line-height: 14px\">THIS ARTICLE HAS NOT BEEN UPDATED SINCE 2018. THE INFORMATION SHARED IN THE ARTICLE WAS ACCURATE AT THE TIME OF ITS PUBLICATION, BUT IT MAY BE OUT OF DATE NOW. \u003Ca href=\"https:\u002F\u002Fmedicalfuturist.com\u002Fmagazine\">BROWSE OUR LATEST ARTICLES HERE\u003C\u002Fa>\u003C\u002Fp>\n\u003C\u002Ftd>\n\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\n\n\n\n\u003Cp>The dream about a drop of blood signaling a wide range of diagnostic results was shattered with Elizabeth Holmes and the Theranos scam. The machination of the company has set back the innovation of blood testing and investment into the field for years. However, there’s always hope. The Medical Futurist looked around where blood testing stands today and what’s the future it is heading towards.\u003C\u002Fp>\n\n\n\n\u003C!--more-->\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Dreaming about a home laboratory\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Stephen just came home from walking his dog, Barney, an always smiling labrador. The 40-something took off his smart shoes, sat back on the yellow couch that he and her partner, Sara, were fighting about at IKEA (of course, she won the argument) and started reading the report that the sensors in the sole sent him about the walk. The flashy document appeared in a see-through virtual panel above the mahogany coffee table. Suddenly, another notification arrived with flashy red dots. Stephen seemed to be annoyed by the message that said he should have the regular blood test soon.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\u003Cdiv class=\"wp-block-embed__wrapper\">\n\u003Ciframe loading=\"lazy\" title=\"The Theranos Scam And The State Of Blood Testing - The Medical Futurist\" width=\"640\" height=\"360\" src=\"https:\u002F\u002Fwww.youtube.com\u002Fembed\u002F_N-gKgNXDMY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen>\u003C\u002Fiframe>\n\u003C\u002Fdiv>\u003C\u002Ffigure>\n\n\n\n\u003Cp>However, after contemplating about his experiences as a child with standing in line for a lab test in a crowded hospital, nurses drawing many ampoules of blood and him waiting several days for the results, he smiled and thought to himself – he should be glad things have changed. Afterward, Stephen took out his \u003Cstrong>home lab testing kit, which only required one drop of blood and tested everything from his white blood cell count to his glucose level. The results were taken to the cloud, analyzed, and within a couple of minutes – his see-through virtual panel showed every insight about his blood\u003C\u002Fstrong>. Suddenly, his phone started ringing, and he thought that it must be his doctor about one of the results out of the normal range – and his throat began to be tight with fear.\u003C\u002Fp>\n\n\n\n\u003Cp>He picked up the phone, but something was still ringing. Stephen noticed then that it was actually a smart sleep alarm and only a dream. He got disappointed as he had to go to the hospital for some laboratory tests that day.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image alignnone wp-image-22250 size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"870\" height=\"580\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FBlood-Glucose-Monitoring.jpg\" alt=\"blood testing at home\" class=\"wp-image-22250\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FBlood-Glucose-Monitoring.jpg 870w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FBlood-Glucose-Monitoring-768x512.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FBlood-Glucose-Monitoring-512x341.jpg 512w\" sizes=\"auto, (max-width: 870px) 100vw, 870px\" \u002F>\u003Cfigcaption>Source: https:\u002F\u002Fdirectorsblog.nih.gov\u002F\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>What’s so devastating about the Theranos scam?\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>The dream about home laboratories and the revolution of blood testing within reach was not shattered by a smart sleep alarm, rather an ill-famed enterprise, Theranos.\u003C\u002Fp>\n\n\n\n\u003Cp>In 2014, the company made headlines by raising more than 700 million dollars of capital – today its online space only signifies the start of the insolvency proceeding. Three years ago, Theranos \u003Ca href=\"https:\u002F\u002Fwww.businessinsider.com\u002Fthe-history-of-silicon-valley-unicorn-theranos-and-ceo-elizabeth-holmes-2018-5\">was evaluated at 9 billion dollars\u003C\u002Fa> and its founder and CEO, Elizabeth Holmes, was on the cover of \u003Ca href=\"https:\u002F\u002Fwww.vanityfair.com\u002Fnews\u002F2018\u002F06\u002Felizabeth-holmes-is-trying-to-start-a-new-company\">The New York Times Style Magazine, Forbes, Fortune, or Inc\u003C\u002Fa>., and made to the \u003Ca href=\"https:\u002F\u002Fwww.businessinsider.com\u002Fthe-silicon-valley-100-2015-1-100-2015-6\">lists of top executives\u003C\u002Fa>. Today, the press mainly reports about her pathological lying tendencies and \u003Ca href=\"https:\u002F\u002Fwww.theguardian.com\u002Fcommentisfree\u002F2018\u002Fjun\u002F03\u002Ftheranos-elizabeth-holmes-media-emperors-new-startup\">how the FDA pulled the plug on Theranos\u003C\u002Fa>. The Security and Exchange Commission (SEC) \u003Ca href=\"https:\u002F\u002Fwww.theguardian.com\u002Ftechnology\u002F2018\u002Fmar\u002F14\u002Ftheranos-founder-elizabeth-holmes-fraud-charge\">charged Holmes with “massive fraud”\u003C\u002Fa>, she was fined $500,000, lost voting control of Theranos and was banned from being an officer or director of any public company for 10 years.\u003C\u002Fp>\n\n\n\n\u003Cp>However, the marks of Theranos are still palpable in the industry – and that’s the most devastating about the shenanigans of the company. \u003Cstrong>Investors are more cautious when it comes to supporting start-ups with ideas for bringing forward \u003C\u002Fstrong>\u003Cstrong>\u003Ca href=\"https:\u002F\u002Fwww.grandviewresearch.com\u002Findustry-analysis\u002Fblood-testing-market\">the $51 billion market\u003C\u002Fa>\u003C\u002Fstrong>\u003Cstrong> dominated by a few large companies and aiming to disrupt the blood testing procedure. Any enterprise that says it can do a blood test for less than $50 – Theranos promised $2.90 – or will be able to carry out dozens of tests on a tiny sample – Holmes said they will perform hundreds of tests on one drop of blood – will become instantly suspicious, has to explain how it is different from the ill-famed company and has to deliver rock-solid evidence, \u003C\u002Fstrong>although the latter is actually a great consequence as human lives are at stake here.\u003C\u002Fp>\n\n\n\n\u003Cp>In spite of the hindering factors, numerous companies are working towards the dream of testing blood at home, having the results within a minimum of time or performing dozens of tests on such a small amount of the red fluid as possible.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image alignnone wp-image-14666 size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"870\" height=\"445\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes.jpg\" alt=\"Theranos - Elizabeth Holmes\" class=\"wp-image-14666\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes.jpg 870w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-768x393.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-512x262.jpg 512w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2016\u002F12\u002Ftheranos-elizabeth-holmes-458x234.jpg 458w\" sizes=\"auto, (max-width: 870px) 100vw, 870px\" \u002F>\u003Cfigcaption>Source: www.wsj.com\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Silicon Valley companies breaking out of the shadow of Theranos\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Luckily, the Theranos scam did not wholly destroy the entrepreneurial spirit of the blood testing market. However, the majority of the companies have to define themselves against Theranos – how they are different from this disastrous undertaking.\u003C\u002Fp>\n\n\n\n\u003Cp>A San Diego based company, \u003Ca href=\"https:\u002F\u002Fwww.genalyte.com\">Genalyte\u003C\u002Fa> can run up to 128 different tests on a single finger prick of blood in under 15 minutes. As the decade-old company’s profile is too similar to Theranos, \u003Ca href=\"https:\u002F\u002Fwww.genalyte.com\u002Fhow-blood-testing-startups-are-pitching-themselves-after-the-theranos-scandal\u002F\">the management tries to differentiate it\u003C\u002Fa> by emphasizing the clinical trials it is conducting — two have been completed so far — and openly sharing information about how its technology works.\u003C\u002Fp>\n\n\n\n\u003Cp>Another Silicon Valley startup, \u003Ca href=\"https:\u002F\u002Fathelas.com\u002F\">Athelas\u003C\u002Fa>, developed a portable diagnostic device leveraging deep learning and machine vision to rapidly measure white blood cell count and to tell the medical professional whether it can identify leukemia, infections, inflammations and other diseases. In an \u003Ca href=\"https:\u002F\u002Fwww.marketwatch.com\u002Fstory\u002Fhow-blood-testing-startups-are-pitching-themselves-after-theranos-scandal-2018-06-22\">article\u003C\u002Fa>, the company’s founder Tanay Tandon said that contrary to Theranos, Athelas has a data-oriented approach and it’s working with regulatory agencies, including to design its trials.\u003C\u002Fp>\n\n\n\n\u003Cp>The Boston and Neuchatel, Switzerland-based company, \u003Ca href=\"https:\u002F\u002Fwww.1dropdx.com\u002F\">1Drop Diagnostics\u003C\u002Fa>, has a diagnostic panel housed on a biochip that is able to deliver a test result within 15 minutes from a single drop of blood. As \u003Ca href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fcontent\u002F1drop-diagnostics-draws-425m-portable-blood-diagnostic-panel\">MobiHealthNews found\u003C\u002Fa>, others like Seventh Sense Biosystems, \u003Ca href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fcontent\u002Feverlywell-picks-2-million-expand-home-testing-kit-platform\">Everlywell\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fwww.mobihealthnews.com\u002Fcontent\u002Fmylab-box-expands-home-testing-kit-6-new-std-tests\">myLabBox\u003C\u002Fa> are also looking to reinvent home blood draws and testing.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image alignnone wp-image-22251 size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"870\" height=\"370\" src=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FAthelas_Blood-testing.png\" alt=\"Athelas\" class=\"wp-image-22251\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FAthelas_Blood-testing.png 870w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FAthelas_Blood-testing-768x326.png 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FAthelas_Blood-testing-512x218.png 512w\" sizes=\"auto, (max-width: 870px) 100vw, 870px\" \u002F>\u003Cfigcaption>Source: https:\u002F\u002Fblog.athelas.com\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Innovative blood testing goes global\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>The Finnish company, \u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002F\">Nightingale\u003C\u002Fa> – after the founder of nursing, Florence Nightingale – aims to solve the burden of chronic disease through predictive health and early diagnosis – based on its blood test. The company provides over 220 biomarkers from one single blood sample – and \u003Ca href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fgemmamilne\u002F2018\u002F10\u002F22\u002Ffinnish-blood-testing-startup-is-going-beyond-the-theranos-dream\u002F#10538c3520a4\">with the help of amino acids, for example, they are able to predict the prevalence of type 2 diabetes 10 years before the condition shows\u003C\u002Fa>. Utterly different from Theranos, Nightingale is keen on making their research public: \u003Ca href=\"https:\u002F\u002Fnightingalehealth.com\u002Fpublications\">they’ve been published in over 150 publications\u003C\u002Fa>.\u003C\u002Fp>\n\n\n\n\u003Cp>Singapore-based Lucence Diagnostics uses blood sampling for late-stage lung cancer. Compared to the standard tissue biopsy, the blood sample test is less invasive, less painful, and yields results within a day instead of ten. Moreover, these tests could help the doctor choose the appropriate medication for patients. Since its establishment in 2016, Lucence Diagnostics has also been able to apply this testing approach to late-stage colon and pancreatic cancer, but they screen for nasopharyngeal and breast cancer too.\u003C\u002Fp>\n\n\n\n\u003Cp>An Israeli company, \u003Ca href=\"https:\u002F\u002Fwww.pixcell-medical.com\u002F\">PixCell Medical Technologies\u003C\u002Fa>, developed a portable diagnostic device, more specifically a hematology analyzer, which performs a complete blood count (CBC) wherever the patient is. From one finger prick, they analyze 20 standard CBC parameters within 5 minutes, including red blood cell count, hemoglobin and platelet parameters.\u003C\u002Fp>\n\n\n\n\u003Cp>Wife and husband team Sarita and Anand Kumble set up the New Zealand-based biomedical company, \u003Ca href=\"https:\u002F\u002Fwww.pictordx.com\u002Fmedia\">Pictor\u003C\u002Fa> in 2006 after returning to New Zealand from the US and India. They aimed to create an affordable testing kit for infectious diseases in emerging countries. The blood testing kit’s \u003Ca href=\"https:\u002F\u002Fwww.nbr.co.nz\u002Farticle\u002Fnz-diagnostic-company-pictor-scores-major-licensing-deal-low-cost-blood-test-b#.V4gnKCd7Sfg.email\">modular design took more than three years to perfect\u003C\u002Fa> and allows up to eight simultaneous tests, with just one drop of blood on a microscopic slide.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image alignnone wp-image-22252\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"310\" src=\"https:\u002F\u002F1712507217.rsc.cdn77.org\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FInnovative-Blood-Testing.jpg\" alt=\"blood testing\" class=\"wp-image-22252\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FInnovative-Blood-Testing.jpg 600w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FInnovative-Blood-Testing-512x265.jpg 512w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \u002F>\u003Cfigcaption>Source: www.nature.com\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>Research promises more to come\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Scientists at Columbia University designed a platform called \u003Ca href=\"https:\u002F\u002Fmbio.asm.org\u002Fcontent\u002F9\u002F5\u002Fe02007-18\">BacCapSeq\u003C\u002Fa>, a new form of identifying bacteria that could help patients avoid sepsis. The first-of-its-kind test can simultaneously screen for all known human pathogenic bacteria – while identifying the genes that give rise to antibiotic resistance. \u003Ca href=\"https:\u002F\u002Fwww.sciencealert.com\u002Fpowerful-new-diagnostic-tool-screen-all-known-bacterial-infections-simultaneously-sepsis-baccapseq-antimicrobial-resistance\">The researchers say the method has the potential to significantly accelerate the diagnosis of lethal bacterial infections\u003C\u002Fa>, ultimately helping to save thousands of lives annually. Currently, the team is working on another platform – that could do the same for fungal infections.\u003C\u002Fp>\n\n\n\n\u003Cp>However, diagnostics based on blood tests are not only useful for prevention. Another ground-breaking research could spare unnecessary chemotherapy – and its side effects – for cancer patients. A new blood test that’s in clinical trials at more than 40 hospitals in Australia and New Zealand could determine whether cancer patients after surgery need chemotherapy or not. Results from the same test could also help to scale the dose for the patients who do need chemotherapy, depending on their risk of cancer returning.\u003C\u002Fp>\n\n\n\n\u003Cp>Moreover, blood samples could help the police, too. Manfred Kayser at Erasmus University Medical Centre in the Netherlands is currently developing new \u003Ca href=\"http:\u002F\u002Fwww.bbc.co.uk\u002Fnews\u002Fscience-environment-19566022\">DNA tests that might enable a person’s age, physical appearance, and geographic origin\u003C\u002Fa>, to be predicted from a blood sample, which could help police identify criminal suspects or badly decomposed bodies.\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image alignnone size-full wp-image-22253\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"870\" height=\"489\" src=\"https:\u002F\u002F1712507217.rsc.cdn77.org\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FFrontiers-of-Blood-Testing.jpg\" alt=\"blood testing\" class=\"wp-image-22253\" srcset=\"https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FFrontiers-of-Blood-Testing.jpg 870w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FFrontiers-of-Blood-Testing-370x208.jpg 370w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FFrontiers-of-Blood-Testing-768x432.jpg 768w, https:\u002F\u002Fcdn.medicalfuturist.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002FFrontiers-of-Blood-Testing-512x288.jpg 512w\" sizes=\"auto, (max-width: 870px) 100vw, 870px\" \u002F>\u003Cfigcaption>Source: www.firstpost.com\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>What about the future?\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>Bill Gates, co-founder of Microsoft \u003Ca href=\"https:\u002F\u002Fwww.wired.com\u002Fstory\u002Fwired25-bill-gates-stephen-quake-blood-tests\u002F\">believes that the future of healthcare\u003C\u002Fa> is about noninvasive blood tests. \u003Cstrong>“More accurate, less expensive, and earlier diagnosis of issues will revolutionize how we treat people and prevent disease while reducing costs,” explained Gates.\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp>I agree with this prediction, moreover, I add that point-of-care, as well as home lab testing, will be the most significant advancement in the field – completely changing the methods used in primary care and diagnostics. Coupled with portable mobile technology, it could enable doctors in rural or developing regions to give an accurate diagnosis without the need to travel or wait for the results for days. Thus, while Theranos caused a setback in the development path of blood testing, it at least showed that the field is in dire need of innovation and that the revolution of blood testing will not be a quick process. Somewhere in the next decades, due to the hard work of scientists and biotech companies, we might have the home laboratory of our dreams.\u003C\u002Fp>\n\n\n\n\u003Ctable style=\"width: 100%; border-collapse: collapse; background-color: #eee; border-top: 4px solid #444;\" cellpadding=\"10px\">\n\u003Ctbody>\n\u003Ctr>\n\u003Ctd style=\"width: 100%;\">\n\u003Cp>\u003Cstrong>At The Medical Futurist, we are building a community for making a bold vision about the future of healthcare reality today.\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Ciframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\u002F\u002Fwww.youtube.com\u002Fembed\u002FFIbMejImnxs\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\">\u003C\u002Fiframe>\n\u003Cp>If you’d like to support this mission, we invite you to \u003Ca href=\"https:\u002F\u002Fwww.patreon.com\u002Fthemedicalfuturist\">join The Medical Futurist Patreon Community\u003C\u002Fa>. A community of empowered patients, future-oriented healthcare professionals, concerned health policymakers, sensible health tech developers, and enthusiastic medical students. If there were ever a time to join us, it is now. Every contribution, however big or small, powers our research and sustains our future.\u003C\u002Fp>\n\u003Cp>\u003Ca href=\"https:\u002F\u002Fwww.patreon.com\u002Fthemedicalfuturist\">\u003Cstrong style=\"background-color: #e71d3299; color: #000;\">Click here to support The Medical Futurist from as little as $3\u003C\u002Fstrong>\u003C\u002Fa> – it only takes a minute. Thank you.\u003C\u002Fp>\n\u003C\u002Ftd>\n\u003C\u002Ftr>\n\u003C\u002Ftbody>\n\u003C\u002Ftable>\n\u003Cp> \u003C\u002Fp>\n",{"rendered":220,"protected":20},"\u003Cp>The dream about a drop of blood signaling a wide range of diagnostic results was shattered with Elizabeth Holmes and the Theranos scam. The machination of the company has set back the innovation of blood testing and investment into the field for years. However, there’s always hope. The Medical Futurist looked around where blood testing stands today and what’s the future it is heading towards\u003C\u002Fp>\n",6,22249,{"_acf_changed":20,"footnotes":27},[225,32,226],500,497,[38,228,229,230,231,232,233,234,235,236,237,238,239],207,555,246,669,277,849,289,1118,297,425,427,159,[],[],[243,244,245,246,247,248,249,250,251,252,253,254,255,256,66,257,258,259,260,261],2883,2905,2885,2907,2887,2909,2889,2891,1883,2893,2765,2895,2875,2897,2899,2879,2901,2881,2903,[263,14,80,81,82,83,84,264,86,265,91,266,267,268,269,270,271,272,273,274,275,276,277],"post-22248","category-biotechnology","category-portable-diagnostics","tag-digital-health","tag-blood-draw","tag-future","tag-blood","tag-home","tag-health-market","tag-innovation","tag-blood-testing","tag-laboratory","tag-technology-2","tag-testing","tag-blood-test",{"id":222,"alt_text":279,"caption":27,"description":27,"media_type":111,"media_details":280,"post":148,"source_url":313},"blood 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Testing: The Theranos Scam And The State Of Blood Tests","Blood testing: The Medical Futurist looked around where blood testing technology stands today & what’s the future blood tests are heading 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