Thread by @MilesGCohen

The defense calls Elizabeth Holmes

E-L-I-Z-A-B-E-T-H H-O-L-M-E-S

She's on the stand.

Holmes is vaccinated and has removed her mask. She smiled.

Downey is on for direct.

"We worked for years with teams of scientists and engineers to miniaturize all of the technologies in a lab. The core part of that was a formula for being able to run tests on small samples….By 2009-2010 we had a breakthrough.”

Holmes told the jury her bday Feb 3, 1984

high-schoo - in Houston

college - “First year and a half.” - at stanford where she met Channing Robertson, she testified.

"He was the chair of the chemical engineering dept at the time and a professor who had been involved in a lot of companies in the life science space," she said.

Jurors are awake

"Can you tell us what was happening in your head that generated that idea that you might file a patent app?"

"Working at Stanford on handling of small fluids..working in Singapore…on diagnostic machines," she said.

“I thought I could combine them and miniaturize some of the tech I had seen in the lab," Holmes continued

The patent was filed in Sept. 2003, and we're looking at it.

#ElizabethHolmes

There’s a diagram in the patent application — can you explain the idea for this invention?



She's explaining her idea to the jury

"...The idea was - the drug could be released based on what’s measured in the body. If you were sick and you had an infection, the pill could pick it up and deliver an antibiotic in real time," she testified to her invention.

The patent was filed before she went back for her 2nd year at stanford, Downey elicited.

Stanford prof. Channing Robertson, "said it was something that had not been done before," Holmes testified.

She spent more time on her idea than her schoolwork, she testified.

she left stanford in March 2004

"Real Time Cures" was what she first titled Theranos.

in 2005 she changed it to #Theranos

She's talking about real time cures:

"I had the opportunity to hire some of the people I was working for and with at stanford," she said.

Two of Dr. Robertsons students and two people who worked at IBM.

Robertson became her board member.

Were you ultimately successful in obtaining a patent on the application you filed...before your sophomore year at Stanford?

Yes.

We are looking at it, it was granted on Nov. 6 of 2007, as Holmes read.

Holmes came up with a business plan for the invention — which included Pharmaceutical companies.

"Focused on introducing our tech to Pharma companies for use in clinical trials. Where we could develop a library of clinical tests...," she testified.

Holmes reached out to everyone she knew to try and get in touch with Pharma companies.

Dr. Liu — a mentor to Holmes while she was in Singapore — helped Holmes reach out. We saw an email he wrote, and CC'd her.

“A young chemical engineer, Elizabeth Holmes... who spent a summer with us from stanford, is now the CEO of an interesting new biotech company…” he wrote.

Holmes explained assays to the jury.

Downey asked Holmes about the investor Don Lucas — she was introduced to him by someone who went to college with her dad.

Downey asked if she had a pitch meeting with him.

"an intro meeting," Holmes said

he had a lot of questions.

He did comprehensive due diligence, she testified.

We are looking at an email where Holmes sent Lucas by request "every expense we had in the company," she said.

Lucas became the chairman of the Theranos board where he served from late 2005 - early 2006ish to Jan 2013, she testified.

Of note — Holmes largest entourage I've seen thus far joined her to court today.

One potential investor, Mr. Thomas, asked Holmes Qs in late 2005 about Theranos' relationship with Pharmaceutical companies.

She put him directly in touch with a Pfizer employee David Lester, as we saw in an email.

That was typical of the that time range, Holmes testified.

We are looking at another image of a device: The Theranos (1.0?)

"You could touch the cartridge and blood could flow in," Holmes began to explain.

This was the device she talked with Pharma companies about, she testified.

She ultimately signed an agreement with GSK, in late 2006.

Did you also in 2006 enter into an agreement with Pfizer related to their use of the theranos tech?

yes

The agreements:

Sept, 2006 - GSK

Nov, 2006 - Pfizer

"...talked to investors about when you were raising money from investors in 2006?"

"Yes," holmes testified.

Holmes also met with Novartis in Switzerland

"Novartis ran processed samples on cartridges that we brought there, and then had data wirelessly transmitted back to our site in california," #ElizabethHolmes testified.

"When you were talking to investors in 2006 did you discuss potential relationship between Novartis and theranos?" Downey asked

"I did" Holmes replied

"Did you say to some of those potential investors that theranos was going to conduct a demo at Novartis?"

"yes"

The Novartis demo was the first demo of the 1 series device, Holmes testified.

Did you understand that others at #theranos thought the demo of #theranos tech was successful?

I did

Did you feel that way?

I did

Holmes sent an email to all Theranos employees after the demo at Novartis.

"Team. We nailed this one. You all did an incredible job in making this happen --- this is the Theranos way," she wrote, as Downey highlighted

Don Lucas, Chris Lucas, Mr. Thomas, and Larry Ellison, among others invested in the early rounds, Holmes testified.

She met Ellison through Mr. Lucas, Downey elicited

We are looking at an email from Holmes to a potential investor, who was considering an investment for Series-c (2006)

the same series as witness Alan Eisenman, witness Chris Lucas, Craig Hall (witness Bryan Tolbert's boss), Holmes testified.

The investor Bob Grady — asked to be connected to certain people in the Pharma industry.

Were there some investors who would not ask for this information

yes

That's it for today.

#elizabethholmes will be back on the stand Monday when we return to court.

Media Coalition's motion granted in part, and denied in part, Davila ruled.

Jurors questionnaires are under seal for now, but will be partially uncovered after a verdict.

Jurors had raised a concern about the unsealing, Davila said.

Holmes will testify for most if not all of Monday and Tuesday next week.