Tempus, a technology firm focused on collecting and analyzing large volumes of molecular and clinical data, has announced $110m in Series E financing.
Image: Tempus secures $110m funding. Photo: Courtesy of Artem Sapegin/Unsplash.
The additional financing values Tempus at $2bn. The round includes Baillie Gifford, funds and accounts managed by T. Rowe Price, Revolution Growth, New Enterprise Associates (NEA) and other existing investors.
The company will use the additional funds to expand operations and to accelerate into new therapeutic areas and geographies. The company has so far raised $320m.
Tempus is developing a library of molecular and clinical data and an operating system to make the information accessible and useful.
The company allows physicians to offer personalized care for patients via its interactive, analytical and machine-learning platform.
The company provides genomic sequencing services and analyzes molecular as well as therapeutic data to empower physicians and researchers in taking real-time, data-driven decisions.
Tempus founder and CEO Eric Lefkofsky said: “Our mission is to help usher in precision medicine, in the United States and abroad. We couldn’t be more thrilled with our progress to date, and we’re honored to be surrounded by world class investors, collaborators, partners and an incredibly talented team here at Tempus.”
The Tempus platform leverages advanced machine learning, next-generation sequencing, and AI-assisted image recognition.
It accelerates insights, new discovery and helps physicians make real-time, data drive decisions on behalf of their patients.
Tempus has collaboration agreements with CancerLinQ, a nonprofit subsidiary of the American Society of Clinical Oncology (ASCO), academic medical centers and NCI designated cancer centers, hospital networks and community physicians throughout the US.
The Tempus platform now touches about one in four cancer patients in the US.
Concerto HealthAI and Tempus have started to assist in the analysis of a de-identified data set that CancerLinQ has provided to the the US Food and Drug Administration.
It represents over 10,000 patients who have been treated with immune checkpoint inhibitors for both approved and unapproved indications.
In June 2017, CancerLinQ and the FDA partnered to explore the real-world use of emerging and newly approved therapies, including optimal sequencing of treatments, the impact of non-cancer health issues on treatment tolerability and cancer outcomes, and use of immunotherapy combinations versus single agents.