uBiome convinced Silicon Valley that testing poop was worth $600 million. Then the FBI came knocking.
The Silicon Valley health startup uBiome is in hot water on the heels of an FBI raid in April.
Founded in 2012, uBiome raised $105 million from investors on the promise of exploring the microbiome, a "forgotten organ."
As uBiome advanced from a citizen science project to a clinical-testing company, it overstated the medical value of its tests and prioritized growth over patient care, according to insiders, lawyers, and government officials.
"Some of my uBiome results remind me of astrology," one former employee said.
uBiome may also have run afoul of federal and state regulations while running some of its tests, according to the experts, insiders, and documents.
Read the full story on Business Insider Prime.