Biotech and Pharma

Theranos: Here why our technology's still right

Elizabeth Holmes, founder and CEO of Theranos
Mike Blake | Reuters

Theranos, the blood-testing start-up that recently came under fire, continued to defend its technology with a blog post on Thursday.

"From his very first interactions with Theranos, the (Wall Street Journal) reporter made abundantly clear that he considered Theranos to be a target to be taken down, and not simply the subject of an objective news story. The articles that appeared last week are the inevitable product of that approach," the company said.

Last week, the Journal published a pair ofarticles suggesting the start-up was relying on technology from traditional labs as it struggled with its own proprietary technology. The articles also reported that some former employees doubt the reliability of Edison, the company's signature lab tool. The viability of Edison, which aims to test just a few drops of blood rather than a typical amount drawn from an arm, is key to Theranos's strategy.

CEO Elizabeth Holmes has defended her company through several media appearances, including on CNBC. She acknowledged that Theranos has used technology from other labs for tests from venous draws but stressed that the company relies on its own technology for finger-stick tests. She noted that Theranos has received FDA approval for one test and expects to get clearance for others.

Elizabeth Holmes
Theranos CEO: Underlying technology is sound
Elizabeth Holmes, founder and CEO of Theranos.
Theranos under fire over lab test accuracy

In the blog post posted Thursday, the company lists what it claims are factual errors in the Journal's reporting and responded to each.

"The reporter raises questions regarding whether Theranos' proficiency-testing protocols comply with regulations. But the approach that the reporter describes is unremarkable: It's just a description of Theranos' alternative assessment procedures. Theranos has explained our process to our regulators, and proficiency testing at Theranos meets the regulatory requirements."

Theranos, which has a valuation of $9 billion, promised to shake up medical testing by conducting a wide range of tests with one drop of blood from a finger-stick, rather than the large vial typically collected.

The Journal stands by its reporting on the company.

"The Journal reiterates that our articles about Theranos were thoroughly reported, fair and wholly accurate," the newspaper said in a statement.

— Reuters contributed to this report.