In a twist that feels straight out of a cautionary tale, Billy Evans, the partner of convicted fraudster Elizabeth Holmes, is launching his own blood-testing company while she serves her 11-year prison sentence for defrauding investors at Theranos. Are we witnessing a classic case of ignoring the lessons of the past?

According to recent reports from The New York Times, Evans is raising funds for his startup named Haemanthus—derived from the Greek for "blood flower." So far, Haemanthus has reportedly secured millions in investments and is branding itself as "the future of diagnostics" with a "radically new approach to health testing." This innovative company plans to harness artificial intelligence to analyze blood, saliva, and urine for disease detection, although a prototype image strikingly resembles Theranos's now-defunct testing machine. Talk about déjà vu!

Despite the glaring resemblance to his partner’s failed venture, Evans has opted for silence—but Haemanthus took to X (formerly Twitter) to reassure skeptics. Their statement boldly proclaimed, "Yes, our CEO Billy Evans is Elizabeth Holmes’ partner. Skepticism is rational. We must clear a higher bar.” They emphasized their commitment to transparency: "We prefer to build first, talk later. The science, when ready, will stand on its own merits." Quite the promise, especially given the past.

Interestingly, the company also clarified that Holmes has "zero involvement" in this new undertaking. They stressed that it’s not "Theranos 2.0," insisting that their methods are fundamentally different. They claim to utilize light to unlock a complete molecular narrative from biological fluids, revealing patterns current tests miss—an entirely new paradigm.

While Holmes may not be directly tied to Evans's company, her influence looms large. Just recently, she indicated that her ambitions in healthcare tech remain alive, even from behind bars. "There is not a day that I have not continued to work on my research and inventions," she told People. "I remain completely committed to my dream of making affordable healthcare solutions available to everyone." The question is, will Evans successfully chart a new course, or are they on a collision course with history?