- Elizabeth Holmes testified that shortening the lab tests was “a really big idea.”
- Holmes admitted to the jury on the second day of his testimony that Theranos never had a partnership with the Defense Department.
- The former CEO is facing 11 counts of wire fraud and conspiracy to commit wire fraud.
San Jose, Calif. — Elizabeth Holmes took mostly easy questions from her defense attorney on Monday, as the former Theranos founder was given the stage to explain her bold aspirations for her blood-testing company in what was sure to be a heated argument. Is.
On the second day of testimony at his criminal fraud trial, Holmes forged promising partnerships with drug companies, the Defense Department, and Stanford University.
“We thought it was a really great idea,” Holmes told the jurors. “As far as we know, these robots used in the traditional laboratory were not miniaturized to run in a device that could be placed at the point of care.”
Holmes, 37, made a surprise appearance at the witness stand Friday after prosecutors spent 11 weeks calling 29 witnesses, ranging from former employees and investors to lab directors and business partners. On Monday, the public was ready to hear from Holmes about what would be a holiday-shortened week in the San Jose courthouse.
Holmes’ journalists, onlookers and friends lined up outside the courtyard at 3 a.m. California time. The courtyard doors opened at 7:30 a.m. A total of 79 tickets were given out, leaving dozens waiting outside without the opportunity to see Holmes’ testimony in person.
Holmes arrived hand in hand with his partner Billy Evans and his mother. At least nine friends and family members, including Evans’ mother, were part of Holmes’ crew.
Dressed in blue, Holmes took the stand, introducing herself to the jury: “My name is Elizabeth Holmes,” she said in her signature baritone voice. His testimony lasted for about two hours.
Holmes faces 11 counts of wire fraud and conspiracy to commit wire fraud. He pleaded guilty and denied any wrongdoing. If found guilty, he could face up to 20 years in prison.
Holmes’ attorney Kevin Downey walked the former Theranos CEO through a series of questions, highlighting the company’s work with major drugmakers such as AstraZeneca, Merck and Pfizer, as well as the Mayo Clinic.
Holmes said, “We believed that our product could be used by pharmaceutical companies to help them gain better insight into how a drug might work and help speed up the time it takes to run a study.” does.”
The jurors were shown a slide from 2009, entitled “Complete Successes.” Downey asked Holmes what she perceived as success when it comes to working with pharmaceutical companies.
“One breakthrough was that we had successfully achieved the objectives of the programme,” she replied, occasionally looking at the jury box to her right while explaining a scientific term.
While prosecutors have portrayed Holmes as a deceitful leader who deliberately misled employees, investors and patients, Downey is in place to try to reinvent himself as a young, ambitious entrepreneur. giving, which has a grand idea that she wants to make a reality.
Holmes spoke about Theranos’ ties with Pfizer and Schering-Plough, but she was not asked to address claims that her company forged their logo on lab reports to legitimize them. Government witnesses, including a Pfizer scientist, Dr. Shane Weber, said they never approved of Theranos’ use of the Pfizer logo.
Holmes acknowledged that Theranos never had a partnership with the Defense Department. Prosecutors charge Holmes Misleaded investors by claiming Theranos worked with the military. Witnesses such as hedge fund manager Brian Grossman said they were told by the company that the technology was being used on the battlefield.
Holmes testified that Theranos wanted to partner with the DoD on several programs in 2008 and 2009.
“One was looking at whether there were markers in the blood that could predict PTSD, the other was associated with diabetes management,” she said. “Another was dealing with infections with trauma patients.”
Holmes’ testimony was delayed by about two hours, although no explanation was given in the courtroom. Downey, an assistant US attorney, Jeff Schenk, and US District Court Judge Edward Davila were not inside the room at the time.
Holmes will return to the witness stand on Tuesday, and the court will be in recess for the rest of the week for the Thanksgiving holiday. Prosecutors will have an opportunity to cross-examine Holmes after the defense investigation ends.
Watch: Holmes takes the stand at Theranos trial