Tempus AI explained

Tempus AI, Inc.
Logo Upright:1.15
Former Name:Tempus Labs
Type:Public
Traded As:NASDAQ:
Industry:Health technology
Founder:Eric Lefkofsky
Hq Location:Chicago, Illinois, US
Key People:Eric Lefkofsky (CEO)
Num Employees:2,300 (2024)

Tempus AI, Inc. (formerly Tempus Labs[1]) is an American health technology company[2] founded in 2015 by Eric Lefkofsky in Chicago, Illinois.[3] It was established by Lefkofsky soon after his wife was diagnosed with breast cancer.[4] Tempus uses data and artificial intelligence (AI) to create precision medicine services, including diagnostics,[5] for oncology, cardiology, radiology, and depression. The company went public on the Nasdaq on June 14, 2024, under the ticker symbol "TEM."[6] [7]

Business

Tempus does genome sequencing and precision medicine, including diagnostics, primarily for cancer patients, as well as for cardiology patients, radiology, and pharmacogenomic testing for patients with depression.[8] It is headquartered in Chicago.[9]

Tempus investors include SoftBank Group, Baillie Gifford, New Enterprise Associates, Novo Holdings, Franklin Templeton Investments, T. Rowe Price, Revolution LLC, Google LLC, and others.[10]

In June 2024, Tempus and SoftBank formed an AI healthcare joint venture in Japan called SB Tempus with a plan to develop personalized treatment recommendations by analyzing medical data with AI.[11] [12] In November that year, Tempus agreed to acquire California-based genetic testing company Ambry Genetics for $600 million in a cash-and-stock deal.[13]

The company's advisory board includes Jennifer Doudna and Scott Gottlieb. As of 2024, Tempus employs around 2,300 people.[14]

Notes and References

  1. News: Pletz . John . November 12, 2021 . A Tempus IPO will give Lefkofsky a shot at post-Groupon redemption . Crain's Chicago Business.
  2. Web site: 16. Tempus . . May 25, 2021 .
  3. Web site: Rosenbaum . Leah . December 10, 2020 . EXCLUSIVE: Billionaire Eric Lefkofsky's Tempus Raises $200 Million to Bring Personalized Medicine to New Diseases . Forbes.
  4. Web site: Liu . Phoebe . Billionaire Groupon Founder Eric Lefkofsky's Health Tech Company Goes Public—His Fourth IPO . 2024-06-20 . Forbes . en.
  5. Web site: Or . Amy . June 14, 2024 . Medical Data Firm Tempus AI Rises After $410.7 Million IPO . Bloomberg.
  6. Web site: de LeĂłn . Riley . June 14, 2024 . Google-backed Tempus AI closes first day of trading up 9% in Nasdaq stock market debut . CNBC.
  7. Web site: de LeĂłn . Riley . June 14, 2024 . Google-backed Tempus AI closes first day of trading up 9% in Nasdaq stock market debut . CNBC.
  8. Web site: AI-enabled precision medicine . tempus.com . Tempus . 30 January 2025.
  9. News: Eans . Zachary . August 4, 2021 . Chicago-based precision medicine company plans 200-job expansion into RTP . The News & Observer.
  10. Web site: June 5, 2024 . SoftBank-backed Tempus AI seeks up to $6.1 bln valuation in US IPO . Reuters.
  11. News: Bridge . Anton . June 27, 2024 . SoftBank Group launches AI healthcare joint venture with Tempus AI . Reuters.
  12. Web site: Park . Kate . June 27, 2024 . SoftBank forms AI healthcare JV in Japan with Tempus . TechCrunch.
  13. News: Asplund . Jon . November 4, 2024 . Tempus buying genetics lab company for $600 million . Crain's Chicago Business.
  14. Web site: Liu . Phoebe . October 17, 2024 . The Billionaire Behind Groupon Is Making A Fortune In An Industry He Swore He'd Never Enter . Forbes.

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