At the annual meeting of the American Association for Clinical Chemistry, Theranos C.E.O. presented a new blood testing machine while getting out of the controversy about Edison, a diagnostic testing device here on Monday. Standing before a crowd of researchers and lab testing professionals Elizabeth Holmes announced a new device, named miniLab, which resembles a computer printer. It was her first public appearance since the company has been sanctioned by the U.S. government’s Centers for Medicare & Medicaid Services.
The medical community has been criticizing Theranos since long for not addressing the issues regarding the company’s earlier performance and Monday’s appearance was expected in part at discussing those concerns. After the announcement of new product Thernos faced a lot of criticism. The Wall Street Journal advocated the blood testing devices as imperfect and imprecise.
“We’re pleased to share our technologies with the entire laboratory industry. It’s the beginning of the next phase of the company, as we introduce our technologies to the world,” Ms. Holmes said during her remarks in a news release. It was said about this new device, minitab, that it can perform a broad range of diagnostic tests by just using a drop of blood.
Holmes said that among the tests that the minilab technology can run is a diagnostic test for Zika, the widespread virus among U.S, she added that it can detect additional strains of the mosquito-borne virus from the figure-pricked blood drops of patients. Theranos said its miniLab results for Zika virus has been submitted to U.S. Food and Drug Administration yet not approved by FDA.
Holmes was banned for atleast two years by the U.S officials to own or operate any of her lab and to rescind the federal license of Therson’s labs. According to the people familiar with the matter, Theranos is also under federal criminal and civil investigation due to a large number of inappropriate results from its device, Edison. It was concluded that the Edison devices have failed quality control checks and other scales of accuracy.
According to Holmes, they could not give an estimate of how much time it would take for Theranos to resolve all its unsettled issues because of the enduring participation of regulators.