Tempus Labs is a healthcare technology company founded in the year 2015 by Eric Lefkofsky, the co-founder, and the city’s top entrepreneurs. The Unicorn’s business model is related to the high cancer priorities of the director of the National Cancer Institute that aims at harnessing large Data to impart knowledge, prevent and treat chronic disease cancer. This case mainly is in crucial in determining the kind of therapies that work for particular patients when given the fundamental biology of their tumors.
The company has attained its goals through the financial support from investors. Lefkofsky, the CEO on March 2018 stated through Chicago business insider that its organization received additional funds amounting to $80 million from new and existing investors. Investors initiated fund round to help Tempus lab in reducing the number of cancer patients. These round fund investors include New Enterprise Associates, Revolution Growth, and New Investors Trust Co.
Tempus appeared in the top ten world ranking after voting of top performing healthcare. In about two years since the establishment, it has received approximately $210 million from investors. New Enterprise Associates is the prominent investor of Unicorn Company co-founded by Lefkofsky. During the latest round, Brad Keywell, a business partner and Revolution Ventures founder, Steve Case financed along with the Tempus Chief Executive Officer.
Tempus created an ecosystem of collecting, sorting, analyzing and applying data solutions in treatment procedures on healthcare. This data thus helps in ushering personalized approach to cancer medicine through the collection of patient’s RNA/DNA data combined with any available clinical data. Physicians make more significant decisions concerning therapy when they can access this information. Therefore, therapy outcomes are made more useful to reduce cancer mortality rates.
Lefkofsky initiated a developmental project of building the worlds’ largest molecular and clinical data library that deals in genetics and Precision Medicine. It uses this data to discover the trends in the treatment of cancer and collect molecular information mainly from patients under treatment. Tempus entrepreneurial ventures include Uptake Technologies, the world largest analytics platform, Light Bank, a venture fund focusing on disruptive technologies, Echo Global Logistics, Groupon, a global e-commerce marketplace, Media ocean, a provider of integrated media procurement technologies.
To Read More Click Here