'SNL' star Kate McKinnon will play disgraced Theranos founder Elizabeth Holmes in a Hulu series

Getty

McKinnon

• "Saturday Night Live" star Kate McKinnon will play Theranos founder Elizabeth Holmes in a Hulu TV series, "The Dropout."
• HBO released a documentary on Theranos and Holmes in March, and a movie is in the works from "Vice" director Adam McKay starring Jennifer Lawrence.

Another Theranos and Elizabeth Holmes project is in the works.

Hulu is developing a limited TV series called "The Dropout," based on the ABC Radio podcast of the same name about the company Theranos and its founder, Elizabeth Holmes, according to Deadline. "SNL" star Kate McKinnon will play Holmes and executive produce the series.

READ MORE: Why Theranos founder Elizabeth Holmes wasn't interviewed for HBO's 'The Inventor' documentary

Holmes founded Theranos in 2003 as a blood-testing startup and claimed that her new technology could revolutionize the industry. But after a 2015 Wall Street Journal article raised questions about the company's credibility, and federal investigators took notice, it eventually ceased operations. Holmes is awaiting trial for fraud and faces up to 20 years in prison.

"The Dropout" podcast, which became available in January, was already turned into a documentary that aired on ABC News' "20/20" in March. And HBO aired its own documentary last month called "The Inventor: Out for Blood in Silicon Valley" from director Alex Gibney. A movie called "Bad Blood" is also in the works from Universal Pictures and "Vice" director Adam McKay, with Jennifer Lawrence attached to star as Holmes.

Gibney described Holmes as a "prisoner of belief" in an interview with Business Insider.

"Her goal was so high minded and she fell so far so fast, to me it seemed like a good opportunity to explore the psychology of fraud," Gibney said about Holmes and his documentary. "Not only how somebody like Elizabeth deceives herself but how she deceives investors and journalists and customers."