Wednesday, October 05, 2016

Therenos Fires 340 Employees and Will Actually Try to Make Their MiniLab Work

I think they should have done this from the very start.
"We will return our undivided attention to our miniLab platform," Holmes wrote. "Our ultimate goal is to commercialize miniaturized, automated laboratories capable of small-volume sample testing, with an emphasis on vulnerable patient populations, including oncology, pediatrics, and intensive care."
The layoffs affect Theranos personnel at its centers in Arizona, Pennsylvania and California.
Holmes' open letter also notes that Theranos has a "new executive team leading our work toward obtaining FDA clearances, building commercial partnerships, and pursuing publications in scientific journals."
If they got that machine right years ago and worked with the FDA from the start they might have had something revolutionary by now. Instead they tried to sell the sizzle with no steak in sight. However, if any venture capitalists give her another dime they are crazy. 

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