Venture Capital: AI-Powered, Precision Medicine Startup Tempus Raises $275M In Equity And Debt
Tempus raised additional equity funding at the same price per share as its previous fundraising round.
Tempus, which uses AI to advance healthcare solutions in drug discovery, clinical trials and diagnostics, has raised $275 million through equity from previous investors and debt financing from Ares Management.
The company has raised over $1.3 billion till date. It boasts of one of the world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful.
“In the last seven years, we’ve made great strides in developing and deploying smarter diagnostics not only in oncology, but neuropsychiatry, infectious disease, and cardiology,” said Eric Lefkofsky, Founder and CEO. “We are committed to achieving our mission in applying AI to healthcare broadly with a focus on deploying solutions at scale that have real impact on patient care today and research in the future.”
Earlier this week, GSK (NYSE: GSK) agreed to pay $70 million to access Tempus’ AI-enabled patient data platform with the aim of improving its clinical trial design, speeding up enrollment and identifying new drug targets.
“The collaboration leverages one of world’s largest sources of de-identified patient data to accelerate drug discovery, initially in oncology,” said GSK.
Tempus will use the new funds to scale its operations and capabilities, with a focus on building upon its disease agnostic platform designed to aggregate de-identified data and develop insights to power intelligent diagnostics.
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