CME Group Announces Elizabeth Holmes as the 2015 Melamed-Arditti Innovation Award Recipient

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Oct 12, 2015, 11:00 ET

CHICAGO, Oct. 12, 2015 /PRNewswire/ -- CME Group's Center for Innovation announced today that Elizabeth Holmes, founder and CEO of Theranos, is the 11^th recipient of the CME Group Melamed-Arditti Innovation Award. Holmes founded the revolutionary blood diagnostics company, Theranos, to change health care from reactive to proactive, empowering individuals to usher in a new era of preventive care. CME Group will present the award at the eighth annual Global Financial Leadership Conference in Naples, Florida, on Tuesday, November 17.

The CME Group Melamed-Arditti Innovation Award strives to celebrate innovation that, through practical application, has had a positive impact on the economic well-being of individuals, industries or nations. This award honors an individual or group whose innovative ideas, products or services have created significant change to markets, commerce or trade.

"Elizabeth Holmes has invented and developed a lab diagnostic testing system that saves time and money, and helps people obtain critical information about their own health," said Leo Melamed, CME Group Chairman Emeritus and Founder of the Competitive Markets Advisory Council. "Due to her inventorship and under her leadership, Theranos' innovative technologies are not only set to disrupt the $75-billion lab testing industry, they're set to disrupt the health care paradigm as we know it."

"It is an honor and a privilege to receive this award, and be named among the many other talented and innovative leaders who have come before me," said Elizabeth Holmes, founder and CEO of Theranos. "Innovation and technology should be used to address the world's greatest challenges. At Theranos, our mission is to make actionable health information accessible to everyone at the time it matters. This award recognizes our success in using technological innovations in laboratory testing to make tests more accessible – both logistically and financially – and less painful, which will help facilitate early detection and prevention of disease. It is our hope that through this innovation, more people will be able to live their best possible lives."

Holmes was studying chemical engineering at Stanford University and was only 19 years old when she applied for her first patent for a bodily fluid sensor system. She is currently a named inventor on 29 U.S. and 125 foreign patents. Holmes is the youngest self-made female billionaire on the Forbes 400 list.

Earlier this year, Holmes worked with leaders in Arizona to pass the first law that expressly recognizes individuals' right to directly access laboratory tests without first obtaining an order, which often requires justifying a health concern or relying on insurance eligibility.

She serves as a U.S. Presidential Ambassador for Global Entrepreneurship, is a member of the Harvard Medical School Board of Fellows, and a recipient of numerous honors, including the 2015 TIME 100 Most Influential People in the World.

Currently valued at $10 billion, Theranos is a full reference lab that has performed millions of tests through its Wellness Centers in Arizona, California and Pennsylvania, with plans to expand throughout the U.S. All of Theranos' tests are posted publicly at the same price for everyone, regardless of insurance status, and are billed at rates of 50 percent or less than the Medicare reimbursement rate. Theranos is leading transparency in lab testing, including committing to FDA review of all of its laboratory developed tests and publishing its prices, lab proficiency testing scores, customer satisfaction scores, guest visit times, and more.

The CME Group Melamed-Arditti Innovation Award recipient, formerly known as the Fred Arditti Innovation Award, is chosen annually by members of the Competitive Markets Advisory Council (CMAC). The award's namesakes are Leo Melamed, in recognition of his revolutionary achievements in introducing financial futures instruments to the world in 1972; and former CME Group Chief Economist Fred Arditti, who was instrumental in developing the index upon which CME Group's Eurodollar futures contract, the world's most actively traded futures contract, was based. Past recipients of the award are:

2014 – Ben Bernanke, Chairman, Board of Governors of the Federal Reserve System (2006-2014);
2013 – Sal Kahn, Founder, Khan Academy;
2012 – Jimmy Wales, Founder, Wikipedia;
2011 – Myron Scholes, Frank E. Buck Professor of Finance Emeritus, Stanford Graduate School of Business, Nobel Laureate in Economic Sciences (1997) and Robert Merton, School of Management Distinguished Professor of Finance, MIT Sloan School of Management, Nobel Laureate in Economic Sciences (1997);
2010 – David Ferrucci, Head of Semantic Analysis and Integration, DeepQA/Watson, IBM;
2009 – Harry Markowitz, Nobel Laureate in Economic Sciences (1990);
2008 – Michael Bloomberg, founder of Bloomberg LP and Former Mayor of the City of New York;
2007 – Eugene Fama, Distinguished Service Professor of Finance at the University of Chicago Graduate School of Business, Nobel Laureate in Economic Sciences (2013);
2006 – Leo Melamed, founder of financial futures and CME Group chairman emeritus;
2005 – William F. Sharpe, STANCO 25 Professor of Finance Emeritus, Stanford University, Nobel Laureate in Economic Sciences (1990).

To read more about Holmes, and follow coverage of the Melamed-Arditti award presentation at the Global Financial Leadership Conference, visit CME Group's online magazine and blog, OpenMarkets, at www.openmarkets.com. To access additional information about the conference as well as previous GFLC video, photo and press highlights, visit the conference website at www.gflc.com.

About Theranos, Inc.
Headquartered in Palo Alto, Theranos, Inc. is a consumer health care technology company. Theranos' clinical laboratory offers comprehensive laboratory tests from samples as small as a few drops of blood at unprecedented low prices. Founded in 2003 by Elizabeth Holmes, Theranos' mission is to make actionable health information accessible to people everywhere in the world at the time it matters, enabling early detection and intervention of disease, and empowering individuals with information to live the lives they want to live. Visit us at theranos.com. Follow us at @theranos.

About the Center for Innovation
CME Group, the world's leading and most diverse derivatives exchange, established the CME Group Center for Innovation in 2003 to identify, foster and showcase examples of significant innovation and creative thinking pertaining to markets, commerce and financial services in the public and private sectors. Each of CFI's programs aims to explore and communicate the principals behind innovation and more importantly, showcase their application to a broad and diverse audience.

Oversight of CFI is provided by the CMAC, which includes: CMAC Chairman, John P. Gould, Steven G. Rothmeier Distinguished Service Professor of Economics, University of Chicago Booth School of Business; David D. Hale, International Economist and Founding Chairman, David Hale Global Economics, Inc.; Andrew Lo, Charles E. and Susan T. Harris Professor of Finance and Director of the Laboratory for Financial Engineering, MIT; Robert C. Merton, School of Management Distinguished Professor of Finance, MIT Sloan School of Management, Nobel Laureate in Economic Sciences (1997); Michael H. Moskow, Vice Chairman and Senior Fellow for the Global Economy, Chicago Council on Global Affairs and former President, Federal Reserve Bank of Chicago; Myron Scholes, Frank E. Buck Professor of Finance, Emeritus, Stanford School of Business, Nobel Laureate in Economic Sciences (1997); Robert J. Shiller, Sterling Professor of Economics, Yale University, Nobel Laureate in Economic Sciences (2013).

Additionally, the following CME Group senior officials serve as members of CMAC: Leo Melamed, CME Group Chairman Emeritus and CMAC Vice Chairman; Terry Duffy, CME Group Executive Chairman and President; Phupinder Gill, CME Group CEO; Jack Sandner, Retired Chairman.

For more information on the CME Group Center for Innovation, please visit www.cmegroup.com/cfi.

About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform, its trading facilities in New York and Chicago, and through its London-based CME Europe derivatives exchange. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

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