Novo Holdings announces investment in Tempus
May 30, 2019
Novo Holdings A/S announces it is the largest new investor in a $200 million Series F Financing of Tempus, a leading American technology company advancing precision medicine through the collection and analysis of molecular and clinical data. As part of the round, Director Robert Ghenchev from Novo Holdings will be joining Tempus’s Board of Directors
With the largest connected clinical and genomic database aggregated from academic medical centers and community-based hospitals, the Tempus platform serves the entire healthcare ecosystem of providers, payers, researchers and life sciences companies. Using advanced machine learning, next-generation sequencing, and AI-assisted image recognition, the company’s platform accelerates discovery of new insights and enables physicians to make real-time, data driven decisions based upon those insights on behalf of their patients.
Tempus is in partnership with leading academic medical centers, NCI designated cancer centers, hospital networks, physicians, researchers, and CancerLinQ LLC, a nonprofit subsidiary of the American Society of Clinical Oncology (ASCO).
The company is experiencing rapid growth and the Tempus platform now touches more than 1 in 4 cancer patients in the United States. The company will use the additional funds to further enhance operations and accelerate its expansion into new therapeutic areas and geographies. With this latest round, the company has raised $520 million since its founding in September 2015 and has a current valuation of $3.1 billion.
Robert Ghenchev, Director at Novo Holdings said:
“Tempus is at the epicenter of personalized medicine and aggregation of integrated real-world patient data – arguably two of the most important drivers of healthcare advancement today. Through its services, the company has the potential to make a meaningful impact to patients and society. We have deep conviction about Tempus’s prospects and look forward to supporting the company and its team going forward.”
Eric Lefkofsky, Founder and CEO at Tempus commented:
“From our founding, Tempus has been singularly focused on improving the lives of patients diagnosed with disease, starting with cancer. Three and a half years later, we are empowering stakeholders across healthcare with insights derived from real-world clinical evidence connected to rich molecular data. We are humbled by the industry response thus far and remain committed to delivering on the promise of precision medicine to improve patient care.”
Other investors in the Series F Financing include Baillie Gifford, Franklin Templeton, NEA, Revolution Growth, and funds and accounts managed by T. Rowe Price.
Tempus is bringing the power of artificial intelligence to healthcare by building the world’s largest library of molecular and clinical data and a platform to make that data accessible and useful. The company provides genomic sequencing services and analyze molecular and therapeutic data at scale to empower physicians and researchers to make real-time, data-driven decisions. Its goal is for each patient to benefit from the treatment of others who came before by providing the healthcare industry with tools that learn as the company gathers more data. For more information, visit tempus.com.
About Novo Holdings
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Foundation’s assets. As part of its mandate, Novo Holdings provides seed and venture capital to development-stage companies, takes significant ownership positions in high growth and well-established companies within life science, and manages a broad portfolio of financial assets. Within the area of growth equity, Novo Holdings’ strategy is to invest in market-leading companies developing highly innovative science and well-positioned to capture share in attractive underlying markets. It is the vision of Novo Holdings to be recognized as a world-leading life science investor with a focus on creating long-term value. Further information is available at www.novoholdings.dk.
Christian Mostrup Scheel,
Senior Press Officer, Novo Holdings,