Tempus Raised Another 110 Million Dollars from Existing and New Investors

Tempus is a Chicago-based company that was founded in 2012. It helps physicians in making more informed, educated, personalized, and optimized cancer therapy decisions. The company has already earned a place among the top ten health techs in the city. Recently, Eric Lefkofsky, the co-founder of Tempus, announced that it raised another 110 million dollars from existing and new investors. The company also raised 80 million in March this year. Tempus collects and analyzes data for physicians to use in the treatment of cancer. The company built a platform for collecting, structuring, and analyzing clinical data, like information from charts that’s usually not organized in electronic medical record systems.

The company is also generating genomic data by sequencing the DNA of patients plus other information in its laboratory. According to the company, physicians using Tempus’ technology will gain insights into how they can better treat their cancer patients. Tempus is typically using clinical data to discover trends in cancer treatment overall as well as collect molecular data from those undergoing treatment. Lefkofsky said that in some cases, the data collection process can be just digitizing the handwritten patient notes from the doctor so that they’re searchable, and they can be stored for the purpose of expanding on treatment options.

This rift between the patient data that’s collected and the use of the information on creating effective treatment is due to the fact that not all data of patients are accessible. Tempus partners with over 50 National Cancer Institute (NCI)-designated cancer centers. Eric Lefkofsky stated that Tempus’ technology is being used by physicians in the treatment of one in four cancer patients in the United States. Investors in this latest round include Baillie Gifford, an investment management firm based in the united kingdom and Revolution Growth, a venture capital firm based in Washington, D.C.

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