Chicago-based entrepreneur, Eric Lefkofsky, has scored multiple success with Tempus, a company which uses a data-driven approach to combating cancer. It recently procured $80 million from fundraising. This achievement increased Tempus’ value to in excess of $1 billion and put it in the rank of unicorn status. According to the Chicago Tribune this is a rare accomplishment for a Chicago-based company.
To date Tempus has raised over $210 million, due to large firm investors. New Enterprise Associates and Revolution Growth previously funneled funds into Tempus and have been joined by T. Rowe Price Associates and Kinship Trust Co. The latest capital investments will go to increasing Tempus’ “clinical and molecular analytic platform,” according to the Chicago Tribune.
According to Lefkofsky, who co-founded Tempus in 2015, the company was developed out of frustration with a health care system that too often let powerful data and real world evidence go to waste.” Lefkofsky made this observation after a family member was diagnosed with cancer.
Lefkofsky said Tempus is “in a unique position to help usher in an era of precision medicine to support patients battling disease.”
Clinical and molecular data will be gathered from patients then combined and structured in an organized form. According to the news report, organizing a patient’s database could be as simple as adding a handwritten note to their file.
By adding structure more personalized options for treatment will be available and beneficial for the involved stakeholders. Physicians will have access to learning tools, newer patients will receive the same quality treatment as previous patients and drug companies will be able to enhance the drug development process.
Big data analytics will be the primary focus in facilitating cancer therapy at Tempus. Human genome sequencing coupled with advances in science and technology provides innumerable details from a large medical system.
Tempus laboratories, which are certified by CAP/CLIA, include comprehensive DNA and RNA sequencing and has a data processing capability to process 50,000 patients annually.
Read More: www.lightbank.com/team/eric-lefkofsky