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Posted On: 05/24/2018 8:56:43 PM
Post# of 9144
I contacted NNLX today with a question regarding the latest news on "Theranos". Here is the CEO's response:
"When Theranos first announced their technology, I received numerous calls and emails from concerned investors in Nanologix who were worried that our work on bacteria diagnostics was useless since in using Theranos' claimed technology it could all be done better, cheaper, and faster than anything we could hope to market. Nothing I could say mattered, as all one had to do was look at the impressive credentials of those on the BOD and all the positive press Theranos received on their "miraculous" technology. I have to wonder how many other small biotechnology companies' potential pool of investment capital shrank due to the truly unbelievable claims of Theranos and the associated disillusionment of the investing public relative to legitimate diagnostics development. Theranos has probably cast a cloud over alternative biotechnology companies for years to come.".
"When Theranos first announced their technology, I received numerous calls and emails from concerned investors in Nanologix who were worried that our work on bacteria diagnostics was useless since in using Theranos' claimed technology it could all be done better, cheaper, and faster than anything we could hope to market. Nothing I could say mattered, as all one had to do was look at the impressive credentials of those on the BOD and all the positive press Theranos received on their "miraculous" technology. I have to wonder how many other small biotechnology companies' potential pool of investment capital shrank due to the truly unbelievable claims of Theranos and the associated disillusionment of the investing public relative to legitimate diagnostics development. Theranos has probably cast a cloud over alternative biotechnology companies for years to come.".
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