In July 2016, The Wall Street Journal published an interesting analysis on Theranos saga which offers “lessons about the importance of oversight and due diligence in the venture-capital business, which bets sometimes on nothing more than an idea.”
“For me, the Theranos saga is a wonderful reminder: While you want to invest in people who are visionary and are committed to their businesses, you want to partner with people who are truth-seeking,” said health-care investor Bryan Roberts, a partner at Venrock. “A lot of people [involved with Theranos] fell down on that in this.”
Several investors with expertise in life-science deals say they either passed on investing because they thought Theranos’s technology claims were too good to be true, or didn’t get a chance. Theranos’s board of directors consisted mostly of political heavyweights rather than medical experts. The company never published its research in peer-reviewed medical journals, as is customary.
You can read the full article here: Silicon Valley looks for Lessons in Theranos
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October 2016, Forbes provides a follow up review of Theranos over the last 2 years. Bad blood: The decline and fall of Elizabeth Holmes and Theranos
For all Pharmaceutical and Biotech companies and VCs out there, please contact GlobalReach BI for your Due Diligence.