Tempus AI

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Tempus AI, Inc.
FormerlyTempus Labs
Company type Public
Nasdaq:  TEM
Industry Health technology
Founded2015;10 years ago (2015)
Founder Eric Lefkofsky
Headquarters Chicago, Illinois, US
Number of 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] Tempus has a global presence for its products and services in 34 countries. [9] It is headquartered in Chicago, and has offices in New York City, the San Francisco Bay Area, Boston, Washington, D.C., Seattle, Milwaukee, Lewisburg, PA, Calgary, and Barcelona, plus three CAP/CLIA labs in Chicago, the Atlanta area (Peachtree Corners), and Research Triangle Park. [10] [11]

Tempus investors include SoftBank Group, Baillie Gifford, New Enterprise Associates, Novo Holdings, Franklin Templeton Investments, T. Rowe Price, Revolution LLC, Google LLC, and others. [12]

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. [13] [14] In November that year, Tempus agreed to acquire California-based genetic testing company Ambry Genetics for $600 million in a cash-and-stock deal. [15]

The company's advisory board includes Jennifer Doudna and Scott Gottlieb. [1] As of 2024, Tempus employs around 2,300 people. [16]

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References

  1. 1 2 Pletz, John (November 12, 2021). "A Tempus IPO will give Lefkofsky a shot at post-Groupon redemption". Crain's Chicago Business .
  2. ↑ "16. Tempus". CNBC . May 25, 2021.
  3. ↑ Rosenbaum, Leah (December 10, 2020). "EXCLUSIVE: Billionaire Eric Lefkofsky's Tempus Raises $200 Million to Bring Personalized Medicine to New Diseases". Forbes .
  4. ↑ Liu, Phoebe. "Billionaire Groupon Founder Eric Lefkofsky's Health Tech Company Goes Public—His Fourth IPO". Forbes. Retrieved June 20, 2024.
  5. ↑ Or, Amy (June 14, 2024). "Medical Data Firm Tempus AI Rises After $410.7 Million IPO". Bloomberg.
  6. ↑ de León, Riley (June 14, 2024). "Google-backed Tempus AI closes first day of trading up 9% in Nasdaq stock market debut". CNBC .
  7. ↑ de León, Riley (June 14, 2024). "Google-backed Tempus AI closes first day of trading up 9% in Nasdaq stock market debut". CNBC .
  8. ↑ "AI-enabled precision medicine". tempus.com. Tempus. Retrieved January 30, 2025.
  9. ↑ "Global presence of our products and services". tempus.com. Tempus. Retrieved January 30, 2025.
  10. ↑ Eans, Zachary (August 4, 2021). "Chicago-based precision medicine company plans 200-job expansion into RTP". The News & Observer .
  11. ↑ "Our Locations". tempus.com. Tempus. Retrieved January 30, 2025.
  12. ↑ "SoftBank-backed Tempus AI seeks up to $6.1 bln valuation in US IPO". Reuters . June 5, 2024.
  13. ↑ Bridge, Anton (June 27, 2024). "SoftBank Group launches AI healthcare joint venture with Tempus AI". Reuters.
  14. ↑ Park, Kate (June 27, 2024). "SoftBank forms AI healthcare JV in Japan with Tempus". TechCrunch .
  15. ↑ Asplund, Jon (November 4, 2024). "Tempus buying genetics lab company for $600 million". Crain's Chicago Business .
  16. ↑ 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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