World News: 14:02 GMT Thursday 30th May 2019. [Tempus via Globe Newswire via SPi World News]
CHICAGO, May 30, 2019 (GLOBE NEWSWIRE) -- 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. As part of the round, Robert Ghenchev from Novo Holdings will be joining Tempus’s Board of Directors.
The company is experiencing rapid growth and will use the additional funds to further enhance operations and accelerate its expansion into new therapeutic areas and geographies. With this latest round, the company has raised $520 million since its founding in September 2015.
With 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.
“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.”
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.
About Tempus:Tempus is bringing the power of artificial intelligence to healthcare by building the world’s largest library of molecular and clinical data and a platform to make that data accessible and useful. We provide genomic sequencing services and analyze molecular and therapeutic data at scale to empower physicians and researchers to make real-time, data-driven decisions. Our goal is for each patient to benefit from the treatment of others who came before by providing the healthcare industry with tools that learn as we gather more data. For more information, visit tempus.com.
Globe Newswire: 14:02 GMT Thursday 30th May 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.