How many other “Theranos” companies are out there? The FBI raided the offices of uBiome last month, and more and more negative press is hitting the wires about this company:
On the heels of an FBI raid of its offices in San Francisco, the buzzy health startup uBiome is under investigation.
The company, which has raised $105 million and achieved a $600 million valuation, is reportedly being investigated for issues related to how it billed customers for its tests, which were geared toward highlighting the role the microbiome plays in human health.
uBiome portrayed its tests as free to patients and said insurance companies would foot the bill. In reality, customers were sometimes saddled with thousands of dollars of bills when their insurance declined to pay. Interviews that Business Insider previously conducted with several former uBiome employees suggested that the company may have cut corners on its science as well.
Now, additional reporting by Business Insider reveals that uBiome’s CEOs and cofounders, Jessica Richman and Zachary Apte, may have tried to conceal personal details, including their relationship and Richman’s age. Richman and Apte were placed on leave from the CEO role after the FBI raid.
Richman repeatedly presented herself as years younger than she was, in an apparent effort to be included in articles showcasing young founders.