On Monday, Elizabeth Holmes, the founding father of the blood testing start-up Theranos, aimed to rebut a key argument made by prosecutors in her fraud case: that she lied about her firm’s work with pharmaceutical corporations.
One of the crucial damning items of proof prosecutors have introduced in opposition to Ms. Holmes is that Theranos despatched falsified pharmaceutical firm validation experiences to traders. These experiences displayed the logos of drug makers, which acted as proof that Theranos’s expertise had been validated by them. Through the trial, traders have testified that these experiences helped persuade them to pour cash into Ms. Holmes’s start-up.
However representatives from Pfizer and Schering-Plough testified that their corporations had by no means validated Theranos’s expertise. (Pfizer’s consultant stated the corporate had come to the alternative conclusion.) Nor had they accepted of getting their logos added to the experiences.
On the stand on Monday, Ms. Holmes testified about research that Theranos did with Merck, AstraZeneca, Centocor, Bristol Myers Squibb and others in 2008 and 2009. One exhibit displayed inner documentation concerning the success of a few of this early work and confirmed a map of round a dozen cities around the globe the place Theranos’s machines had been used for research.
Kevin Downey, Ms. Holmes’s lawyer, additionally confirmed what he referred to as a peer-reviewed journal that printed the outcomes of a research that Theranos did with Stanford College round this time. He didn’t point out the identify of the journal.
In every instance, Ms. Holmes’s understanding of Theranos’s expertise was that “it carried out properly,” she testified. In a number of the examples, Theranos was paid for its work within the research.
All through her trial, Ms. Holmes’s protection crew has tried making the case that there was some reality to what Ms. Holmes informed traders.
“The fact of what occurred at Theranos is way, way more sophisticated than what you have got heard about Elizabeth Holmes to date,” Lance Wade, one other of Ms. Holmes’s attorneys, stated in his opening assertion on the trial’s begin in September.