Looks like there's a reasonable number of project on Github these days
fitting the keywords:
https://github.com/topics/eulerian-video-magnification
It's definitely a topic that I think about every 6-12 months or so...
for one reason or another.
One of the repos is even an Android project with a compiled binary
available for download
(https://github.com/w-zx/EVMHR/releases/download/v0.1-alpha/EVMHR-v0.1-alpha.apk)
unfortunately it only has Chinese writing, so I'm not sure what the
popup messages say (I haven't tried google translate yet) and it only
takes ~10 seconds of video, then processes it (quickly) and displays a
number (I guess the detected heart rate).
This C++ (Qt and OpenCV) project looks a lot more adjustable, but I've
yet to try it out:
https://github.com/wzpan/QtEVM
On Fri, Jul 6, 2012 at 12:45 PM Patrik D'haeseleer <patrikd@gmail.com> wrote:
>
> The Eulerian magnification method relies on very simple image
> processing methods, so it should be easy to implement even if they
> don't distribute the code (which they may).
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[DIYbio] Re: Re: [biocurious] Open-Source PID: Biological Applications
[DIYbio] DIY culture medium for invertebrate cells
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Re: [DIYbio] Removing nucleases from cell extract
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0201681
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[DIYbio] Removing nucleases from cell extract
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0201681
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[DIYbio] Removing nucleases from cell extract
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[DIYbio] Re: 405nm laser supposedly treating acne and nail fungus
During the laser treatment, the laser beam will slowly guide through the nail bed. The energy of the laser beam is absorbed by the fungal colonies below. This allows the enzymes in the fungus to continue to grow. After the treatment, it usually takes 2-3 months to see the results.
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[DIYbio] Re: Computer Memory Based on the Protein Bacteriorhodopsin Utilizing the Two-Photon Method for Read/Write Procedures
On Saturday, February 27, 2010 at 7:52:19 AM UTC-6, Bryan Bishop wrote:
I woke up this morning and remembered this old piece of work. Who else
remembers it?Computer Memory Based on the Protein Bacteriorhodopsin Utilizing the
Two-Photon Method for Read/Write Procedures
http://web.archive.org/web/20071029220616/http://www.cem. msu.edu/~cem181h/projects/96/ memory/index.html "While magnetic and semi-conductor based information storage devices
have been in use since the middle 1950's, today's computers and
volumes of information require increasingly more efficient and faster
methods of storing data. Whilethe speed of integrated circuit random
access memory (RAM) has increased steadily over the past ten to
fifteen years, the limits of these systems are rapidly approaching. In
response to the rapidly changing face of computing and demand for
physically smaller, greater capaticy, bandwidth, a number of
alternative methods to integrated circuit information storage have
surfaced recently. Among the most promising of the new alternatives
are photopolymer-based devices, holographic optical memory storage
devices, and protein-based optical memory storage using rhodopsin ,
photosynthetic reaction centers, cytochrome c, photosystems I and II,
phycobiliproteins, and phytochrome. This website focuses mainly on
protein-based optical memory storage using the photosensitive protein
bacteriorhodopsin with the two-photon method of exciting the
molecules, but briefly describes what is involved in the other two.
Bacteriorhodopsin is a light-harvesting protein from bacteria that
live in salt marshes that has shown some promise as a feasible optical
data storage. The current work is to hybridize this biological
molecule with the solid state components of a typical computer.""There have been many methods and proteins researched for use in
computer applications in recent years. However, among the most
promising approaches, and the focus of this particular webpage, is
3-Dimensional Optical RAM storage using the light sensitive protein
bacteriorhodopsin. Bacteriorhodopsin is a protein found in the purple
membranes of several species of bacteria, most notably Halobacterium
halobium. This particular bacteria lives in salt marshes. Salt marshes
have very high salinity and temperatures can reach 140 degrees
Fahrenheit. Unlike most proteins, bacteriorhodopsin does not break
down at these high temperatures. Early research in the field of
protein-based memories yielded some serious problems with using
proteins for practical computer applications. Among the most serious
of the problems was the instability and unreliable nature of proteins,
which are subject to thermal and photochemical degradation, making
room-temperature or higher-temperature use impossible. Largely through
trial and error, and thanks in part to nature's own natural selection
process, scientists stumbled upon bacteriorhodopsin, a
light-harvesting protein that has certain properties which make it a
prime candidate for computer applications. While bacteriorhodopsin can
be used in any number of schemes to store memory, we will focus our
attention on the use of bacteriorhodopsin in 3-Dimensional Optical
Memories.""Three-dimensional optical memory storage offers significant promise
for the development of a new generation of ultra-high density RAMs
(Birge, Computer, 63). One of the keys to this process lies in the
ability of the protein to occupy different three-dimensional shapes
and form cubic matrices in a polymer gel, allowing for truly
three-dimensional memory storage. The other major component in the
process lies in the use of a two-photon laser process to read and
write data. As discussed earlier, storage capacity in two-dimensional
optical memories is is limited to approximately 1/lambda2 (lambda =
wavelength of light), which comes out to approximately 108 bits per
square centimeter. Three-dimensional memories, however, can store data
at approximately 1/lambda3, which yields densities of 1011 to 1013
bits per cubic centimeter. The memory storage scheme which we will
focus on, proposed by Robert Birge in Computer (Nov. 1992), is
designed to store up to 18 gigabytes within a data storage system with
dimensions of 1.6 cm * 1.6 cm * 2 cm. Bear in mind, this memory
capacity is well below the theoretical maximum limit of 512 gigabytes
for the the same volume (5-cm3)."(For the moment, that's about 18 TB in the volume of what one of my
(non-flash-based) 1 TB drives takes up.)"Bacteriorhodopsin, after being initially exposed to light (in our
case a laser beam), will change to between photoisomers during the
main photochemical event when it absorbs energy from a second laser
beam. This process is known as sequential one-photon architecture, or
two-photon absorption. While early efforts to make use of this
property were carried out at cryogenic temperatures (liquid nitrogen
temperatures), modern research has made use of the different states of
bacteriorhodopsin to carry out these operations at room-temperature.
The process breaks down like this: Upon initially being struck with
light (a laser beam), the bacteriorhodopsin alters its structure from
the bR native state to a form we will call the O state. After a second
pulse of light, the O state then changes to a P form, which quickly
reverts to a very stable Q state, which is stable for long periods of
time (even up to several years). The data writing technique proposed
by Dr. Birge involves the use of a three-dimensional data storage
system. In this case, a cube of bacteriorhodopsin in a polymer gel is
surrounded by two arrays of laser beams placed at 90 degree angles
from each other. One array of lasers, all set to green (called
"paging" beams), activates the photocycle of the protein in any
selected square plane, or page, within the cube. After a few
milliseconds, the number of intermediate O stages of bacteriorhodopsin
reaches near maximum. Now the other set, or array, of lasers - this
time of red beams - is fired. The second array is programmed to strike
only the region of the activated square where the data bits are to be
written, switching molecules there to the P structure. The P
intermediate then quickly relaxes to the highly stable Q state. We
then assign the initially-excited state, the O state, to a binary
value of 0, and the P and Q states are assigned a binary value of 1.
This process is now analogous to the binary switching system which is
used in existing semiconductor and magnetic memories. However, because
the laser array can activate molecules in various places throughout
the selected page or plane, multiple data locations (known as
"addresses") can be written simultaneously - or in other words, in
parallel. ""The system for reading stored memory, either during processing or
extraction of a result, relies on the selective absorption of red
light by the O intermediate state of bacteriorhodopsin. To read
multiple bits of data in parallel, we start just as we do in the
writing process. First, the green paging beam is fired at the square
of protein to be read. After two milliseconds (enough time for the
maximum amount of O intermediates to appear), the entire red laser
array is turned on at a very low intensity of red light. The molecules
that are in the binary state 1 (P or Q intermediate states) do not
absorb the red light, or change their states, as they have already
been excited by the intense red light during the data writing stage.
However, the molecules which started out in the binary state 0 (the O
intermediate state), do absorb the low-intensity red beams. A detector
then images (reads) the light passing through the cube of memory and
records the location of the O and P or Q structures; or in terms of
binary code, the detector reads 0's and 1's. The process is complete
in approximately 10 milliseconds, a rate of 10 megabytes per second
for each page of memory. Clearly, there are many advantages to
protein-based memory, among the most significant being cost, size, and
memory density. However, there are still several barriers standing in
the way of mass-produced protein-based memories."(Ewww, 10 MB/sec! For reference, SATA2 drives can do up to 3 GB/sec of
transfer, and USB2 has a theoretical max of 60 MB/sec.)Also, here's what I've been reading on the subject.. rhodopsin geeks
might find it useful for other reasons:http://designfiles.org/papers/
bacteriorhodopsin_memory/ - Bryan
http://heybryan.org/
1 512 203 0507
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[DIYbio] Re: "Lab Grown Dairy Is Here".. synferm ice cream
On Thursday, July 11, 2019 at 4:45:34 PM UTC-7, Jonathan Cline wrote:
Perfect Day
wants to rebrand microbes used in food—yeast, fungi, bacteria—as
flora, a more consumer-friendly term.
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[DIYbio] "Lab Grown Dairy Is Here".. synferm ice cream
"A third startup, Motif Ingredients—a spinoff of Gingko Bioworks—is
using $90 million in funding to focus on lab-grown dairy proteins as
flavor and texture ingredients."
This same topic on a consumer site, says:
"They 3-D printed a cow's DNA and inserted it into the yeast."
Umm, how about, nope.
bloomberg.com
Forget Synthetic Meat, Lab Grown Dairy Is Here
Consumers spend billions of dollars on protein derived from dairy.
What if they could get it without using cows?
By Larissa Zimberoff
July 11, 2019, 6:00 AM PDT
The search for sustainable, healthy alternatives to meat currently has
two paths: the meat-mimicking veggie burger and lab-grown proteins.
But in the land of dairy, there's only plant-based alternatives like
cashew "butter" and almond milk.
Whether you're milking them or slaughtering them, industrial cattle
husbandry is bad for the planet. Studies show it to be a key culprit
in the climate crisis and a source of localized environmental damage.
The refrigerator aisle has been full of plant-based dairy for some
time, but now there are a few startups who, like the purveyors of
cultured meat, want to take dairy one step further.
Already under siege by falling milk sales, Big Dairy lobbyists have
been lashing out at makers of plant-based rivals as they grow
market-share. But their next enemy may be coming from the laboratory,
in the form of synthetic whey, and investors are already lining up.
While fewer people are drinking cow's milk, they're still eating
yogurt and cheese, and a crucial protein that comes from making those
products is whey. It's relatively flavorless and incorporates well
into a range of food formulations for everyone from infants to adults.
There's already a huge market for it, as demand for whey protein and
whey-based products is on the rise thanks to consumer demand for
protein in everything, from bars to shakes.
The U.S. is the single largest exporter of whey products, with
estimated sales of $10 billion last year. BCC Research said the
category will grow by 6% annually through 2023. But for all its
popularity, all that whey still comes from cows, a fact increasingly
seen as a liability for climate- and health-conscious dairy and
protein lovers.
Ryan Pandya saw an opportunity in this consumer conundrum. He wants to
be the first to market a non-animal whey protein through his San
Francisco area-based company, Perfect Day. Like other food startup
founders, Pandya and partner Perumal Gandhi are both vegan. Rather
than forego the taste of real cheese and dairy for poor vegan
substitutes, the pair decided to invent their own version of the real
thing. The startup focused on the well-worn food path of microbial
fermentation—harnessing custom yeast and bacteria to grow the proteins
that make milk taste like milk.
But first, the company and others like it face some big hurdles:
consumer squeamishness and regulatory reviews that may end up focusing
more on the genetically modified organisms [GMO] used to make
lab-grown whey.
Five years ago, Perfect Day joined the synthetic biology accelerator
IndieBio as it searched for microbes that could be engineered to make
functional milk proteins. Today, it has more than 60 employees, $60
million in funding and says that it's produced one metric ton of
lab-grown whey (for scale, the U.S. uses more than 200,000 metric tons
of all types of whey annually).
Late last year, agriculture giant Archer Daniels Midland agreed to
invest in Perfect Day as the startup seeks to lower the cost of making
whey. "When you're creating something that already exists, there is
already an established price point," said Victoria de la Huerga, vice
president of ADM Ventures. "The goal for companies that are leveraging
new technology to make new food is you have to make it affordable."
Though it's still early days, Perfect Day contends its proteins
require 98% less water and 65% less energy than that required to
produce whey from cows. The company said it hopes to one day license
its ingredients so they can be used by food manufacturers in a range
of products—but those involved concede that scaling the effort won't
be easy.
Still, Perfect Day Chief Technical Officer Tim Geistlinger said the
process is "fully adaptive—you can do it anywhere in the world and it
doesn't matter how hot it is." Having come over from plant-based
burger maker Beyond Meat, Geistlinger argued that "if you want to
raise your flag on sustainability or tolerance to climate change, this
one solves a lot of things."
While Perfect Day wants to be an ingredient supplier, food startup New
Culture wants to make the end product: cheese from its own lab-grown
casein, another protein derived from dairy. In the lab, New Culture
has crafted a super stretchy, believable version of mozzarella—the
most consumed cheese in the U.S. A third startup, Motif Ingredients—a
spinoff of Gingko Bioworks—is using $90 million in funding to focus on
lab-grown dairy proteins as flavor and texture ingredients.
Matt Gibson, the New Zealand born founder of New Culture and a
self-described committed vegan, said he didn't like the non-dairy
options on the market. "I just don't think you can make cheese with
any of the plant-based proteins," he said.
There's even a nonprofit working on lab-grown whey. Real Vegan Cheese,
based in Oakland, California, has been researching how to make
multiple casein proteins with bacteria, and plans to do the same with
yeast. The group said it wants to disseminate its recipe so others can
develop their own sustainable, animal-free dairy products.
Non-animal whey protein is new, and may require scrutiny by the U.S.
Food and Drug Administration. But Nigel Barrella, a food industry
lawyer who is of counsel to the Good Food Institute, said lab-made
whey will be viewed by regulators as simply another GMO food product.
Last month, Perfect Day filed a General Recognized as Safe petition
(GRAS) with the FDA, a voluntary request for government review.
"In terms of the FDA's attitude, it will be near the GMO product:
functionally these are the same," Barrella said, using corn as an
example: "There is no scientifically known difference between corn and
GMO corn."
But there's still branding to worry about. Few people like to eat
something with "lab-grown" on the label, and vegans will likely steer
clear of something labeled "milk protein." As a result, Perfect Day
wants to rebrand microbes used in food—yeast, fungi, bacteria—as
flora, a more consumer-friendly term.
"We are trying to explore how we can get a term for this industry
that's outside of plant-based," said Pandya. "Something someone with a
plant-based diet can eat, but it's not from plants. It's an animal
protein, but not from animals."
The company plans to start building its public profile by selling
1,000 pints of ice cream made with lab-grown whey, via its website.
"Most of the functionality in ice cream or cream cheese is all about
the whey proteins and how it operates with air and water," said
Gandhi.
Still, Nate Donnay, a Minnesota-based director of dairy insight for
INTL FCStone, doesn't see non-animal whey grabbing huge market share
soon. "Sitting here in the heartland, no one is caring where the
protein came from. They want it cheap and they want a lot of it," he
said. Donnay added, however, that "if you can get cost down and the
functionality there, the big companies will take it."
Barrella, the food industry lawyer, said lab-made whey makers should
play to their strong suit.
"I think it will be sold as a benefit of the product—lower
environmental footprint," Barrella said. "It will be incumbent on the
producers of these products to market the benefits of these products:
milk proteins that don't come from an animal."
end quote
--
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## jcline@ieee.org
## Mobile: +1-805-617-0223
########################
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Re: [DIYbio] Re: Biosecurity
UN REPORT
Frontiers 2018/19: Emerging Issues of Environmental Concern
04 March 2019
Authors: UN Environment
""From the innovations and ethical dilemmas of synthetic biology to
the options for appropriate international adaptation to climate
change: Frontiers 2018/19 explores the emerging environmental issues
facing the planet
...
The ability to successfully alter organisms at the genetic level has
excited scientists and the general public alike. Gene-editing
techniques are advancing rapidly, bringing the promise of many
biological and ecological benefits, from eradicating human diseases to
preventing species extinction. CRISPR-Cas9 is the latest, quickest
tool in the genetic editing tool box, allowing extraordinary precision
in the manipulation of genomes.
However, this ability to create synthetic life and alter existing DNA
carries with it the risk of cross contamination and unintended
consequences. Hacking the code of life has such major implications
that there is an urgent need for governing bodies to collaborate and
cooperate in ensuring safe research and development in this field. The
rise of the DIY biohacker and the risk of the accidental release of
genetically modified organisms into the environment is a cause for
regulatory concern.
The Convention on Biological Diversity considers that the following
operational definition is useful as a starting point for the
purpose of facilitating scientific and technical deliberations under
the Convention and its Protocols:
"Synthetic biology is a further development and new dimension of
modern biotechnology that combines science, technology and engineering
to facilitate
and accelerate the understanding, design, redesign, manufacture and/or
modification of genetic materials, living organisms and biological
systems."20
** The intentional or accidental release of genetically engineered
organisms into the environment could have significant negative impacts
on both human and environmental health. Misuse of these technologies
and a failure to account
for unintended consequences could cause irreversible environmental
damage and pose significant geopolitical threats.17 The potential
far-reaching impacts of synthetic biology demand governance methods
and research guidelines that promote its ethical and responsible
use.18,19
CRISPR-Cas9 genome editing technique
The discovery of CRISPR-Cas9 has changed the entire outlook of
synthetic biology research.
It enables scientists to cut out a particular DNA segment of a desired
sequence or replace it with a new
DNA strand. Many fields of medical research require such editing
precision to revolutionize treatments.
However, the technique is also subject to scrutiny for its safety as
it involves a potential off-target effect, whereby it inadvertently
cuts out DNA that has a similar sequence to the targeted strand,
potentially triggering cancer in edited cells.
Do-It-Yourself Biology or DIY Bio
The movement of so-called 'citizen scientists' interested in
performing synthetic biology experiments has gained significant
traction globally. Biology enthusiasts – many without scientific
background – meet in garage labs to conduct experiments using
specialised DIY kits and simple protocols available online.
Some of the group have specialised equipment and hire professional
staff to help citizen scientists, biohackers and biology enthusiasts
in developing their projects.
Risks and policy considerations
There are concerns that synthetic biology could be used to re-engineer
existing pathogenic viruses, making them more dangerous or produce
biochemicals with only modest resources and organizational footprint.
Synthetic biology presents new challenges that need to be addressed
through the consolidated action of governmental and international
bodies. Development of effective methods to better manage emerging
risks is essential in ensuring technological safety.
Innovating with wisdom
The release of genetically engineered organisms accidentally or
intentionally into the environment has raised valid concerns about
biosafety and unpredictable consequences. For organisms engineered in
closed research or industrial facilities, containment procedures and
enforced regulations on waste disposal help to avoid an escape,
although this is never fail-proof.63 In the case of intentional
release, concerns over potential genetic cross-contamination between
species, ecological interactions and impacts on ecosystems and their
services remain largely unresolved.64 Altering a disease carrier
genetically could potentially cause a pathogen to evolve and become
more virulent, or to be carried by a new vector.65
To date, CRISPR-based gene drives have been tested only
on small populations in controlled settings, with one recent
experiment successfully collapsing the entire malaria- carrying
mosquito population in the laboratory.66 As a first step towards wider
trials, Target Malaria has recently gained permission to release
10,000 modified mosquitoes in Burkina Faso. These specimens will be
genetically engineered to be sterile, but with no gene drives, to test
how well they compete with wild males.67 However, such field trials to
evaluate the efficacy of the gene-drive system could pose inherent
risks.68,69
Under the precautionary principle, stringent risk assessment and the
inclusion of diverse stakeholder perspectives should be applied in the
development and handling of innovative synthetic biology applications
and products.19,70,71 The precautionary principle states that when
human activities may lead to unacceptable harm that is scientifically
plausible but uncertain, action should be taken to avoid or diminish
that harm.72 A concept of substantial equivalence – that a genetically
modified organism is as safe as its traditional counterpart – is often
mentioned in conjunction with the precautionary principle.73 Some
countries have extensive policy and regulations in place concerning
genetic engineering and research, while for others, non-functional
regulatory systems, policy gaps and risk-assessment capacity are major
challenges.74-77
Attempts have been made to identify, evaluate and address the ethical
and biosafety concerns of synthetic biology.
The U.S. National Academies of Science, Engineering,
and Medicine published a report on gene drives in 2016 highlighting
the need for stringent environmental risk assessments and deliberation
that charters human values and necessitates rigorous public
engagement.19
In December 2017, the ad-hoc technical expert group on synthetic
biology, established by the Parties to the Convention on Biological
Diversity, concluded that organisms – developed or being developed
through current methods of synthetic biology, including those
containing gene drives – fall under the description of living modified
organisms (LMOs), which are regulated under the legally-binding
Cartagena Protocol.78 With 171 Party nations, the Protocol applies the
precautionary approach and requires that each Party take all necessary
measures to ensure the safe handling, transport and use of the
resulting LMOs.79
SYNBIOSAFE, an EU-funded research project, was established to identify
key issues in safety, security, risk management ethics and,
importantly, the science–society interface, which emphasizes public
education and dialogue among scientists, businesses, government, and
ethicists.80,81 Some gene-drive developers have also proposed ethical
research guidelines that emphasize the need for meaningful public
engagement.82
Nevertheless, the intentional release of modified organisms and their
potential to permanently transform wild species and cross
international borders will likely test the limits of current policy,
leading some environmental groups to call for a moratorium on all
gene-drive research.83 Other regulatory concerns focus on the
potential use of synthetic biology for military offensive
purposes.84,85
** Citizen scientists, biohackers and garage labs
Synthetic biology and genome editing have attracted interest not only
from companies, but also regular citizens. Do-It-Yourself Biology,
also known as "DIY Bio", the movement of "citizen scientists"
interested in synthetic biology experiments has become an
international phenomenon over the last decade. Often with little prior
knowledge of the field, enthusiasts meet in makeshift
labs to take crash courses in biotechnology and conduct hands-on
experiments.90,91 Simple protocols found online and specialized kits
costing US$150–1,600 have driven the movement's rapid expansion.
DIY Bio labs can be found in most major cities and by 2017 there were
about 168 groups worldwide.92,93 Regulating
the use of easily accessible and low-cost technologies
like CRISPR and gene editing kits will likely be a challenge for
authorities. There is also growing concern that the technology could
be misused by terrorists to destroy agricultural crops or turn
harmless microbes into biological weapons.94
Synthetic Biology: Re-engineering the environment
Lead Authors
Bartlomiej Kolodziejczyk, H2SG Energy Pte. Ltd., Singapore Natalie
Kofler, Yale Institute for Biospheric Studies, Yale University,
Connecticut, United States
Contributors and Reviewers
Marianela Araya, Convention on Biological Diversity, Montreal, Canada
James Bull, College of Natural Sciences, University of Texas at
Austin, Texas, United States
Jackson Champer, Department of Biological Statistics and Computational
Biology, Cornell University, New York, United States
Chen Liu, Department of Biological Statistics and Computational
Biology, Cornell University, New York, United States
Yongyuth Yuthavong, National Science and Technology Development Agency
of Thailand, Pathumthani, Thailand
""
--
## Jonathan Cline
## jcline@ieee.org
## Mobile: +1-805-617-0223
########################
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[DIYbio] Re: Isaac Arthur does a segment Synthetic Meat
On Thursday, July 4, 2019 at 10:18:21 AM UTC-4, Cabalen sciences wrote:
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Re: [DIYbio] Re: Is it possible to grow stem cells in a home laboratory?
The lab has to meet BSL1 Standards.--
On Tuesday, April 16, 2019 at 1:39:29 PM UTC-7, SBS wrote:I would like to know your opinion about it, the cultivation of plants is half simple but what about the cultivation of animal tissue?
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[DIYbio] Re: "Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud"
On Thursday, March 15, 2018 at 12:45:49 PM UTC-7, Jonathan Cline wrote:
The vaporware and hyped promises of Theranos surprisingly did not get much attention on this group thruout the company's history. There has been a lot of vaporware and fraudulent claims in synbio, which obviously goes against fundamental principles of science.""Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos""U.S. Securities and Exchange Commission Press ReleaseTheranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud
Holmes Stripped of Control of Company for Defrauding Investors
FOR IMMEDIATE RELEASE
2018-41Washington D.C., March 14, 2018 —
The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial performance. Theranos and Holmes have agreed to resolve the charges against them. Importantly, in addition to a penalty, Holmes has agreed to give up majority voting control over the company, as well as to a reduction of her equity which, combined with shares she previously returned, materially reduces her equity stake.
The complaints allege that Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key product – a portable blood analyzer – could conduct comprehensive blood tests from finger drops of blood, revolutionizing the blood testing industry. In truth, according to the SEC's complaint, Theranos' proprietary analyzer could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analyzers manufactured by others.
The complaints further charge that Theranos, Holmes, and Balwani claimed that Theranos' products were deployed by the U.S. Department of Defense on the battlefield in Afghanistan and on medevac helicopters and that the company would generate more than $100 million in revenue in 2014. In truth, Theranos' technology was never deployed by the U.S. Department of Defense and generated a little more than $100,000 in revenue from operations in 2014.
"Investors are entitled to nothing less than complete truth and candor from companies and their executives," said Steven Peikin, Co-Director of the SEC's Enforcement Division. "The charges against Theranos, Holmes, and Balwani make clear that there is no exemption from the anti-fraud provisions of the federal securities laws simply because a company is non-public, development-stage, or the subject of exuberant media attention."
"As a result of Holmes' alleged fraudulent conduct, she is being stripped of control of the company she founded, is returning millions of shares to Theranos, and is barred from serving as an officer or director of a public company for 10 years," said Stephanie Avakian, Co-Director of the SEC's Enforcement Division. "This package of remedies exemplifies our efforts to impose tailored and meaningful sanctions that directly address the unlawful behavior charged and best remedies the harm done to shareholders."
"The Theranos story is an important lesson for Silicon Valley," said Jina Choi, Director of the SEC's San Francisco Regional Office. "Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday."
Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Due to the company's liquidation preference, if Theranos is acquired or is otherwise liquidated, Holmes would not profit from her ownership until – assuming redemption of certain warrants – over $750 million is returned to defrauded investors and other preferred shareholders. The settlements with Theranos and Holmes are subject to court approval. Theranos and Holmes neither admitted nor denied the allegations in the SEC's complaint. The SEC will litigate its claims against Balwani in federal district court in the Northern District of California.
The SEC's investigation was conducted by Jessica Chan, Rahul Kolhatkar, and Michael Foley and supervised by Monique Winkler and Erin Schneider in the San Francisco Regional Office. The SEC's litigation will be led by Jason Habermeyer and Marc Katz of the San Francisco office.
##
BBC News' Interpretation of the story
http://www.bbc.com/news/
business-43406050 Theranos founder Elizabeth Holmes charged with $700m fraud
14 March 2018
The founder of a US start-up that promised to revolutionise blood testing has agreed to settle charges that she raised over $700m (£500m) fraudulently.
The Securities and Exchange Commission, a top US financial regulator, said Elizabeth Holmes and Theranos deceived investors about the firm's technology.
The agency also said the firm had falsely claimed its products had been used by the US army in Afghanistan.
Ms Holmes will lose control of the firm and be fined $500,000.
An SEC official called the fallout an "important lesson for Silicon Valley".
"Innovators who seek to revolutionise and disrupt an industry must tell investors the truth about what their technology can do today - not just what they hope it might do someday," said Jina Choi, director of the SEC's San Francisco regional office.
Theranos was founded in 2003 when Ms Holmes was only 19, and sought to develop an innovative blood testing device.
The firm said its Edison device could test for conditions such as cancer and cholesterol with only a few drops of blood from a finger-prick, rather than taking vials from a vein.
In 2015 Forbes magazine estimated Ms Holmes' wealth at $4.5bn
However, in the same year reports in the Wall Street Journal suggested the devices were flawed and inaccurate.
By 2016 Forbes had revised its estimates of Ms Holmes' fortune to "nothing".
Charges
The charges were brought against Theranos and its former president Ramesh "Sunny" Balwani as well as Ms Holmes.
The SEC plans to bring a case against Mr Balwani.
The regulator alleged that Theranos, Ms Holmes and Mr Balwani made a series of false and misleading statements in investor presentations, product demonstrations and interviews.
It said: "Theranos, Holmes, and Balwani claimed that Theranos' products were deployed by the US Department of Defence on the battlefield in Afghanistan and on medevac helicopters and that the company would generate more than $100m in revenue in 2014.
"In truth, Theranos' technology was never deployed by the US Department of Defence and generated a little more than $100,000 in revenue from operations in 2014...
"In truth, according to the SEC's complaint, Theranos' proprietary analyser could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analysers manufactured by others."
##
--
## Jonathan Cline
## jcl...@ieee.org
## Mobile: +1-805-617-0223
########################
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[DIYbio] Isaac Arthur does a segment Synthetic Meat
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[DIYbio] Re: Is it possible to grow stem cells in a home laboratory?
On Tuesday, April 16, 2019 at 1:39:29 PM UTC-7, SBS wrote:
I would like to know your opinion about it, the cultivation of plants is half simple but what about the cultivation of animal tissue?
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[DIYbio] Re: "Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud"
On Thursday, March 15, 2018 at 12:45:49 PM UTC-7, Jonathan Cline wrote:
The vaporware and hyped promises of Theranos surprisingly did not get much attention on this group thruout the company's history. There has been a lot of vaporware and fraudulent claims in synbio, which obviously goes against fundamental principles of science.""Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos""U.S. Securities and Exchange Commission Press ReleaseTheranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud
Holmes Stripped of Control of Company for Defrauding Investors
FOR IMMEDIATE RELEASE
2018-41Washington D.C., March 14, 2018 —
The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial performance. Theranos and Holmes have agreed to resolve the charges against them. Importantly, in addition to a penalty, Holmes has agreed to give up majority voting control over the company, as well as to a reduction of her equity which, combined with shares she previously returned, materially reduces her equity stake.
The complaints allege that Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key product – a portable blood analyzer – could conduct comprehensive blood tests from finger drops of blood, revolutionizing the blood testing industry. In truth, according to the SEC's complaint, Theranos' proprietary analyzer could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analyzers manufactured by others.
The complaints further charge that Theranos, Holmes, and Balwani claimed that Theranos' products were deployed by the U.S. Department of Defense on the battlefield in Afghanistan and on medevac helicopters and that the company would generate more than $100 million in revenue in 2014. In truth, Theranos' technology was never deployed by the U.S. Department of Defense and generated a little more than $100,000 in revenue from operations in 2014.
"Investors are entitled to nothing less than complete truth and candor from companies and their executives," said Steven Peikin, Co-Director of the SEC's Enforcement Division. "The charges against Theranos, Holmes, and Balwani make clear that there is no exemption from the anti-fraud provisions of the federal securities laws simply because a company is non-public, development-stage, or the subject of exuberant media attention."
"As a result of Holmes' alleged fraudulent conduct, she is being stripped of control of the company she founded, is returning millions of shares to Theranos, and is barred from serving as an officer or director of a public company for 10 years," said Stephanie Avakian, Co-Director of the SEC's Enforcement Division. "This package of remedies exemplifies our efforts to impose tailored and meaningful sanctions that directly address the unlawful behavior charged and best remedies the harm done to shareholders."
"The Theranos story is an important lesson for Silicon Valley," said Jina Choi, Director of the SEC's San Francisco Regional Office. "Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday."
Theranos and Holmes have agreed to settle the fraud charges levied against them. Holmes agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, return the remaining 18.9 million shares that she obtained during the fraud, and relinquish her voting control of Theranos by converting her super-majority Theranos Class B Common shares to Class A Common shares. Due to the company's liquidation preference, if Theranos is acquired or is otherwise liquidated, Holmes would not profit from her ownership until – assuming redemption of certain warrants – over $750 million is returned to defrauded investors and other preferred shareholders. The settlements with Theranos and Holmes are subject to court approval. Theranos and Holmes neither admitted nor denied the allegations in the SEC's complaint. The SEC will litigate its claims against Balwani in federal district court in the Northern District of California.
The SEC's investigation was conducted by Jessica Chan, Rahul Kolhatkar, and Michael Foley and supervised by Monique Winkler and Erin Schneider in the San Francisco Regional Office. The SEC's litigation will be led by Jason Habermeyer and Marc Katz of the San Francisco office.
##
BBC News' Interpretation of the story
http://www.bbc.com/news/
business-43406050 Theranos founder Elizabeth Holmes charged with $700m fraud
14 March 2018
The founder of a US start-up that promised to revolutionise blood testing has agreed to settle charges that she raised over $700m (£500m) fraudulently.
The Securities and Exchange Commission, a top US financial regulator, said Elizabeth Holmes and Theranos deceived investors about the firm's technology.
The agency also said the firm had falsely claimed its products had been used by the US army in Afghanistan.
Ms Holmes will lose control of the firm and be fined $500,000.
An SEC official called the fallout an "important lesson for Silicon Valley".
"Innovators who seek to revolutionise and disrupt an industry must tell investors the truth about what their technology can do today - not just what they hope it might do someday," said Jina Choi, director of the SEC's San Francisco regional office.
Theranos was founded in 2003 when Ms Holmes was only 19, and sought to develop an innovative blood testing device.
The firm said its Edison device could test for conditions such as cancer and cholesterol with only a few drops of blood from a finger-prick, rather than taking vials from a vein.
In 2015 Forbes magazine estimated Ms Holmes' wealth at $4.5bn
However, in the same year reports in the Wall Street Journal suggested the devices were flawed and inaccurate.
By 2016 Forbes had revised its estimates of Ms Holmes' fortune to "nothing".
Charges
The charges were brought against Theranos and its former president Ramesh "Sunny" Balwani as well as Ms Holmes.
The SEC plans to bring a case against Mr Balwani.
The regulator alleged that Theranos, Ms Holmes and Mr Balwani made a series of false and misleading statements in investor presentations, product demonstrations and interviews.
It said: "Theranos, Holmes, and Balwani claimed that Theranos' products were deployed by the US Department of Defence on the battlefield in Afghanistan and on medevac helicopters and that the company would generate more than $100m in revenue in 2014.
"In truth, Theranos' technology was never deployed by the US Department of Defence and generated a little more than $100,000 in revenue from operations in 2014...
"In truth, according to the SEC's complaint, Theranos' proprietary analyser could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analysers manufactured by others."
##
--
## Jonathan Cline
## jcl...@ieee.org
## Mobile: +1-805-617-0223
########################
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[DIYbio] Extension of Survey Deadline
Dear all,
We would like to kindly remind you that the deadline to submit your responses and have your say for the Global DIY Biology survey (www.surveymonkey.com/r/diybio) and the Perception of Biorisks survey (www.surveymonkey.com/r/biorisk) has been extended to the 1st of August 2019.
We are also interested to find DIY Biologists from various backgrounds to share their unique insights and viewpoint over the DIY Biology movement with us at the interview stage happening this July. Please be sure to contact us if you are interested to be a part of this conversation.
Please feel free to email us if you have any queries and/or if you require more information with regards to the survey.
Professor Dr Abhi Veerakumarasivam
Principal Investigator
+603-7491 8622 ext 7175
Dr Khalisah Zulkefli
Research Associate
Please disseminate this email to anyone who you believe should participate in the survey or interested to be part of the interviews.
Thanks in advance and regards.
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