Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Tempus.
Technology is a vast field and in the field of science, technology is getting advanced rapidly. Biotechnology is a department of applied science that uses living organisms and their products to produce various processes. It is a very important part of the industry sector in the economy.
Tempus is a technology company which has created the world's biggest library of molecular and clinical data. It is making accurate medicine through the power and the promising nature of data and artificial understanding. Read the Tempus success story below.
Tempus - Company Highlights
| Company Name | Tempus |
|---|---|
| Headquarters | Chicago, IL, US |
| Sector | Analytics, Artificial Intelligence, Biotechnology, Healthcare, Medical and Software |
| Founder | Eric Lefkofsky |
| Founded | 2015 |
| Website | tempus.com |
Tempus -About
Tempus - Founder & Team
Tempus - Business & Revenue Model
Tempus - Funding & Investors
Tempus - Growth & Future
Tempus - Competitors
Conclusion
FAQ's
Tempus - About
Tempus built an operating system to make information accessible and beneficial for physicians, researchers and patients. The mission and the vision of the company is to change the world in the field of medicine. It enables physicians to deliver personalized attention to everyone's diagnosis. Tempus also works with partners to encourage development and discovery.
The company started with a concept of curing patients for a variety of diseases, starting from cancer to depression-like disorders. It is currently also curing Covid patients. The founder of the company had his own personal reasons for founding Tempus.
'My wife was diagnosed with breast cancer about five years ago, and I was amazed how little data was actually used as a part of her therapy, largely because our system makes it hard for doctors to access data when making real-time clinical decisions,' Lefkofsky said. 'It became clear to me that I needed to try and tackle this problem, and I founded Tempus soon afterwards.'
Tempus - Founder & Team
Eric Lefkofsky is the founder and the CEO of Tempus. Currently, he is the Chairman and the Co-Founder of Groupon, Lightbank and Lefkofsky Family Foundation. At Groupon he previously served as the CEO of the company which is an e-commerce marketplace. He is also the founder of MediaBank. He graduated from the University of Michigan.
Tempus - Business & Revenue Model
'We try to infuse as much data and technology as we can into the diagnosis itself,' Lefkofsky says.
The Tempus business model lies in the fact that they do not only focus on cancer but also focuses on other programs which include cardiology, diabetes, mental health or any other infectious or deadly disease. The company offers a service that matches eligible patients to clinical trials. Tempus also licenses de-identified patient data to other players in the oncology industry. Tempus offers a service for the psychiatrists to use a patient's hereditary information to determine the best treatments for major depressive disorders.
The main Tempus labs revenue model lies in sequencing the genome of cancer patients' tumors. It helps the doctors to decide which treatment is more effective for which patient.
Arbaaz sayed
Tempus - Funding & Investors
The Tempus funding has raised a total amount of $1.1 billion till date.
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| December 10, 2020 | Series G | $200 million | |
| December 10, 2020 | Debt Financing | $250 million | - |
| March 13, 2020 | Series G | $100 million | - |
| May 30, 2019 | Series F | $200 million | Baillie Gifford |
| August 29, 2018 | Series E | $110 million | Baillie Gifford |
| March 20, 2018 | Series D | $80 million | T.Rowe Price |
| September 25, 2017 | Series C | $70 million | New Enterprise Associates and Eevolution |
| April 17, 2017 | Series B | $30 million | - |
| November 22, 2016 | Series B | $10 million | - |
| June 20, 2016 | Series B | $10 million | - |
Tempus is funded by 10 investors. It has got 5 lead investors. Baillie Gifford is the most recent investor.
Tempus - Growth & Future
'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,' Lefkofsky said in a statement.
Tempus focuses on the analysis and the gathering of clinical and molecular data. The company considers itself to be the most comprehensive data set in the industry. Tempus believes that it has been only possible with the help of its clinical partners. The company has got relationships with various cancer centers, physicians and health systems. Tempus is growing in such a way that now the company's technology is affecting 1 in 4 cancer victims in the country.
Tempus also recently announced its collaboration with A2 Biotherapeutics to develop a (CDx) companion diagnostic test. It is also looking forward towards the development of more CDx tests for A2's different clinical development programs.
Yash Gupta
Tempus - Competitors
The top Tempus competitors COTA, Flatiron Health and Fabric Genomics.
- COTA is one of the biggest competitors of Tempus. It is headquartered at Boston, MA, USA and was founded in 2011. It works in the Healthcare Technology field.
- Flatiron Health is perceived as one of the biggest rivals of Tempus. It is headquartered at New York, NY, USA and was founded in 2012.
- Fabric Genomics is also recognised as one of the top competitors of Tempus. It is headquartered at Oakland, California, USA and was founded in 2009.
Conclusion
Tempus is making precision medicine a reality through the power and promise of data and artificial intelligence. With the world’s largest library of clinical and molecular data, and an operating system to make that data accessible and useful, we enable physicians to make real-time, data-driven decisions to deliver personalized patient care, and in parallel, facilitate discovery, development, and delivery of optimized therapeutic options for patients through distinctive solution sets.
FAQ's
What is Tempus?
Tempus is a technology company that has built the world's largest library of clinical and molecular data and an operating system to make that information accessible and useful for patients, physicians, and researchers.
What is Tempus testing?
The Tempus|TO test compares a patient's tumor molecular data to a large internal database of annotated tumor data to identify a likely diagnosis that may impact standard of care therapy decisions, clinical trial enrollment, and reimbursement for therapies.
What type of sequencing does Tempus perform?
Our labs sequence both DNA and RNA from tumor samples as well as matched DNA from normal samples. Sequencing options include a targeted panel of 648 genes (at 500x coverage), whole exome (at 150x coverage), and whole genome (at 30x coverage).
What is Tempus' turnaround time for test results?
Tempus results can be expected 9-14 days after samples are received (both blood and tissue). Sequencing will not begin until all required specimens are received.
Who can order the Tempus test?
Clinicians treating patients who suffer from depression, anxiety, or other psychiatric conditions can order a Tempus test.
Are the results of the Tempus|nP report confidential?
Tempus is a HIPAA (Health Insurance Portability and Accountability Act) covered entity. Results that contain protected health information will only be shared with the ordering physician and as otherwise permitted by law.
Author: Purbalee Dutta
Source : https://startuptalky.com/tempus-success-story/
Date : 2021-05-15T17:30:00.000Z