I am creating a new fresh conda environment for PyMC3. I am on Windows and I remember it was tricky. Now, I am writing down the steps that I could share afterwards.
First I installed all Theano’s requirements. Then I installed the latest Theano via pip:
pip install --no-deps git+https://github.com/Theano/Theano.git#egg=Theano
which installs Theano 1.0.2 (which I can import without errors). Then, when I am about to install PyMC3 via
conda,  conda-forge, theano version 1.0.1theano 1.0.2-py36_0 still appears to be one of the packages required to be installed. I noticed that the installed theano package (via pip git) has the capital T (Theano). Comparisons should be case insensitive, but I wonder if this is why PyMC3 cannot see that theano is already installed.
Any idea on how to solve this?