Business Insider

05.31.2019

Cancer startup Tempus has vaulted to a $3 billion valuation in the red-hot precision medicine market

Highflying Chicago-based precision medicine company Tempus scored $200 million in funding, towing its valuation to over $3 billion. For context, precision medicine makes use of variations in consumers’ genes, environment, and lifestyle to guide the diagnosis and treatment of diseases.

Since launching in 2015, the oncology-focused startup has stocked up a bank of clinical data and architected a system that uses machine learning, genomic sequencing, and other AI tech to enhance clinician understanding of patients’ cancer and tailor effective treatments. Tempus also boasts partnerships with leading oncology hubs and health systems, like the American Society of Clinical Oncology and Mayo Clinic.

Here’s what it means: Tempus is facing off against other companies digging deeper into the space — but the fresh cash should help Tempus venture outside cancer care and stave off strengthened competition.