Indeed. I have a Ph.D, but generally when I'm involved in projects people might want to know the area rather than the title of the thesis (though normally no-one asks!). I realise things are a little different in the biochem/biology spaces (I'm an Automotive Engineer fwiw). I'd expect someone with a Ph.D to know their area pretty well even if it's outside of the specific topic of their thesis (and to be able to pick up new areas quite rapidly by dint of their experience of doing research). He's also the CEO, not the CTO, so somewhat removed.
I feel I've dragged the thread off topic, my apologies, let's see what (if anything) comes of it and certainly be sceptical of any claims until we see hard evidence.