There are few arguments amongst experts in the field that biotechnology is becoming increasingly reliant on the application of Big Data to solve some of the major pain points in the industry. Stored in countless private and public databases, gaining access to patients’ medical records — and then making sense of the unstructured data to come up with structured, actionable data that can be used to diagnose and treat patients, as well as improve outcomes in drug discovery, assist drug recycling methods, and drug safety protocols — is one of the main missions of big data companies in 2021 and beyond.
Ongoing advances in artificial intelligence (AI) and its offshoot machine learning (ML) have been successful in corralling this data so that it can be integrated into unified data points for optimization purposes.
There are currently a growing number of startups developing novel technologies in this sector. Tempus, headquartered in Chicago, is just one of them developing precision medicine by utilizing AI in healthcare to derive insights on clinical and molecular data.
Founded in 2015 by Eric Lefkofsky, Tempus’ technology enables physicians to make real-time, data-driven decisions to deliver personalized care and targeted therapies for patients through its analytical ML platform that uses the power of AI in healthcare. The startup also works with partners to facilitate the discovery, development and delivery of optimized therapeutic options for patients through distinctive solution sets.
“Never before has the need to bring the power and promise of technology to healthcare been more acute than it is today. As a leader in this space, we are very much aware of our responsibility and the power of this moment in time; one in which we now possess the technological capability to use artificial intelligence to eradicate disease and help people live longer and healthier lives.”
— Eric Lefkofsky, Founder and CEO at Tempus
Lefkofsky, coincidentally, is also the Founding Partner of Lightbank, a venture fund investing in disruptive technologies, co-founder and Chairman of Groupon, a global e-commerce marketplace, co-founder of Mediaocean, a leading provider of integrated media procurement technology, Echo Global Logistics, a technology-enabled transportation and logistics outsourcing firm, and InnerWorkings, a global provider of managed print and promotional solutions, making him the kind of leader perfectly suited for Tempus’ climb up the Big Data Deep Tech ladder towards success.
Lefkofsky is an Adjunct Professor at the University of Chicago. He graduated from the University of Michigan and received his Juris Doctor at the University of Michigan Law School.
As for the startup’s products and services, these include Genomic Profiling, Data Licensing, Clinical Trial Matching, Companion Diagnostics, Additional Testing, and finally, the Tempus ONE, something which Tempus describes as being
a smart, voice-enabled, portable device and accompanying mobile app brings Tempus’ proprietary platform to life, offering physicians near real-time access to Tempus insights
The applications these products can be used for embrace oncology, neurology and psychiatry, research purposes, the Life Sciences, and infectious diseases, covering a wide range of purposes.
Getting to where the startup is in 2021 took more than just effort, and the capital Tempus has raised — a total of $1.1 billion over eleven rounds — has seen it reach a post-money valuation of $8.1 by the end of last year.
Fighting such blights as cancer and heart disease will not be an easy task, but with startups like Tempus and its leader Lefkofsky adamant on improving outcomes in precision medicine via its exciting proprietary data platform, the struggle may have a chance after all.