Prosecutors rested their case Friday after nearly three months of testimony from 29 witnesses, including doctors, patients, investors, and ex-employees.
In a surprise move …
Prosecutors rested their case Friday after nearly three months of testimony from 29 witnesses, including doctors, patients, investors, and ex-employees. In a surprise move late Friday, the defense called Holmes to testify. Holmes recalled her early vision for Theranos’ technology to be a pill, and then a patch, that could administer medicine; the idea changed to machines when she learned « people were interested in a benchtop or tabletop device. » « We worked for years with teams of scientists and engineers to miniaturize all the technologies in the laboratory, » she testified. Holmes said she met venture capitalist Donald Lucas during Theranos’ Series B round through someone who went to college with her father; she also described meeting subsequent investors Chris Lucas and Oracle founder Larry Ellison. Donald Lucas « began a very comprehensive diligence process, » she said, according to CNBC. « He hired a law firm to review our patents. He asked us to get an audit of our financials. He wanted copies of our contracts. » Holmes said she offered to put investors in touch with pharmaceutical companies that Theranos was working with and that Theranos had been in talks with Bristol Myers Squibb, Novartis, GlaxoSmithKline and Pfizer, signing contracts with the latter two in 2006.
