SAN JOSE, Calif.: Theranos founder Elizabeth Holmes took the stand on Friday to defend against fraud claims involving the now-defunct blood-testing startup once valued at $9 billion.
Holmes is accused of making false claims about Theranos, including that its technology could run a range of diagnostic tests more quickly and accurately than conventional laboratory testing with a drop of blood from a finger prick.
Once touted as the Steve Jobs of biotech for her company’s supposedly innovative technology, Holmes faces nine counts of wire fraud and two counts of conspiracy. She has pleaded not guilty.
Over the course of the two-month trial, jurors in San Jose, California, have heard testimony from more than two dozen witnesses for the prosecution, including patients and investors whom prosecutors say Holmes deceived. At the close of their case on Friday, prosecutors moved to dismiss one count of fraud regarding a patient.
Defense attorney Lance Wade told jurors during opening arguments in September that Holmes was a hardworking young entrepreneur who had underestimated the obstacles Theranos faced before it failed.