The Tempus Business Venture is a brainchild of Mr. Eric Paul Lefkofsky. Mr. Eric established the Chicago-based venture between 2015 and 2016. At its initiation, the firm got funding of at least $620 million, and it’s currently valued at $5 billion. Tempus serves the healthcare industry where it provides technology-based medical solutions in genomic sequencing, machine learning, and artificial intelligence. The company uses these three primary technologies in the collection, structuring, analyzing clinical data, which is collected from electronic medical records. Such handling of medical data helps medical practitioners to get more accurate information and better and precise options when deliberating on the provision of alternative medical solutions for patients’ problems. An ideal example of where such systems have gotten used is in the treatment of cancer patients. For example, out of 1.8 million patients diagnosed with cancer in the U.S in 2019, only a measly 3% take time to enroll in cancer patients’ clinical trials. The findings show that this outcome is a result of a lack of access or knowledge about such programs.
Tempus provides a solution to this challenge through its launch of the Time Trial program. The program improves clinical trial participation through the use of real-time molecular and clinical data to match patients to the trials. The program then opens prequalified sites once a patient has gotten identified. The objective of the program is to develop custom-made treatments that are unique to each patient’s needs. Tempu’s major operations are in the medical field of oncology, and the company now works with approximately 5,000 oncologists in hundreds of medical facilities and 80% of all medical academic centers with a focus on oncology. Unlike its works in oncology, the company’s latest work is in the field of respiratory diseases, and it has shifted focus to deal with the COVID-19 pandemic. The company received funding worth $100 million to partly fund research activities related to the Corona-virus. Tempus has also started a large-scale research plan that aggregates real-world data from across the globe on 50000 patients who are COVID-19 positive. The findings from the research will get used in determining the best treatment practices for the affected patients. Tempus has over 700 employees, and it’s one of the ventures that Mr. Eric Lefkofsky now treasures and hopes to grow. The Tempus venture may also expand its research operations into other chronic disease areas such as diabetes and depression.
