Tempus, a leading technology company advancing precision medicine through the collection and analysis of molecular and clinical data, announced today an additional $200M financing at a value of $3.1 billion dollars. The investors include Baillie Gifford, Franklin Templeton, NEA, Novo Holdings, Revolution Growth, and funds and accounts managed by T. Rowe Price. With this latest round, the company has raised $520 million since its founding in September 2015.
Founded in 2015, Tempus has the largest connected clinical and genomic database aggregated from academic medical centers and community-based hospitals. The Tempus platform serves the entire healthcare ecosystem of providers, payers, researchers, and life sciences companies. Using advanced machine learning, next-generation sequencing, and AI-assisted image recognition, the company’s platform accelerates discovery of new insights and enables physicians to make real-time, data-driven decisions based upon those insights on behalf of their patients.
Tempus key offerings include
– Next Generation Sequencing: a broad range of DNA and RNA sequencing services, generating high quality somatic and germline molecular data along with therapeutic context to empower physicians to make data-driven decisions.
– Clinical Data Solutions: advanced tools and technologies convert text buried inside oncology notes, pathology reports, and radiology reports into structured data that can be used for research, analysis, quality metrics reporting and clinical decision support.
– Image Analysis and Machine Learning: combining structured radiomics with other orthogonal data in the Tempus database, the platform will improve the accuracy of diagnosis and enhance prognosis for patients. This integrated data also supports biomarker development and drug discovery in a research setting.
– Biological Modeling: patient-derived biological modeling to help researchers understand the potential effects of various standard of care, targeted, off-label and combinatorial therapies
– Time Trial Program: To date, Tempus has worked to bring over 40 provider networks, with a force of over 1,800 oncologists, into the TIME Trial program, allowing clinical trial access to patients at scale. All Institutions in the network must pass Tempus’ rigorous qualification requirements for rapid activation and investigational-trial readiness.
– Clinical Decision Support: real-time support tool connects physicians with up-to-date treatment options and relevant insights derived from real-world clinical evidence across millions of patients, our vast library of molecular profiling data, and our advanced analytics and machine-learning algorithms.
– Analytic Tools: Built visualization tools that provide insights into phenotypes, therapies and outcomes to better measure responses and inform predictions
– Data Solutions: robust database has the ability to power data-driven decisions for research partners, including providers, biopharma and payer groups
Tempus is in partnership with leading academic medical centers, NCI designated cancer centers, hospital networks, physicians, researchers, and CancerLinQ LLC, a nonprofit subsidiary of the American Society of Clinical Oncology (ASCO). Given recent growth, the Tempus platform now touches more than 1 in 4 cancer patients in the United States. The company will use the additional funds to further enhance operations and accelerate its expansion into new therapeutic areas and geographies.
“From our founding, Tempus has been singularly focused on improving the lives of patients diagnosed with disease, starting with cancer,” said Eric Lefkofsky, Founder and CEO at Tempus. “Three and a half years later, we are empowering stakeholders across healthcare with insights derived from real-world clinical evidence connected to rich molecular data. We are humbled by the industry response thus far and remain committed to delivering on the promise of precision medicine to improve patient care.”