Eric Lefkofsky is a 49 years old gentleman who has launched at least five companies, each worth a minimum of $250 million. Tempus is one of his most significant investments as it uses data to solve cancer-related issues.
After Eric Lefkofsky’s wife was diagnosed with breast cancer, he realized that very little data was used to contribute to her care. This ultimately launched Tempus, whose goal is to analyze information and thus help doctors customize treatment for each cancer patient.
A doctor collects a tumor sample and sends it to Tempus for genomic sequencing. Consequently, Tempus identifies the reason behind cell growth and division. This analysis helps doctors to prescribe better treatment other than chemotherapy.
Although genomic sequencing costs between $1000 and $5000, Tempus loses money while doing it. Why? Probably because they do extensive analysis contrary to what other organizations do. Nonetheless, the company has licensed its library to insurers, researchers, and drug companies, and it increases their revenue. In fact, it collects seven figures from seven out of ten leading drug companies.
Several people have invested in Tempus with the hope of achieving better results on cancer, depression, and diabetes. It has, however, published less than 20 peers reviewed manuscript in four years while its competitor has published 400 in nine years.
Eric Lefkofsky’s journey started at the University of Michigan. He studied history but ventured into entrepreneurship as he began by selling carpets. He later co-founded InnerWorkings, which was a marketing company. He then started a transportation company, Echo Global Logistics, and MediaOcean, an advertising software.
Groupon is another company that he invested in, and it’s known as one of his most significant achievements, as illustrated by the $1.6 billion in revenue collected in 2016. Eric Lefkofsky has done other projects from different industries, and all the experience has led to the creation of Tempus. He hopes to produce more data following the genomic sequence his company is predicted to carry.
Tempus has made a significant milestone as it is currently working with 30% oncologists from the USA. Find out more about Eric Lefkofsky: https://newsblaze.com/business/latest-business/eric-lefkofsky-about-tempus-at-bloombergs-the-year-ahead-summit_146430/
Eric Lefkofsky has recently used his company Tempus to find ways to treat and cure cancer. One of the methods that he has used in order to better treat cancer is to rely on data analytics. This will help his company find out the causes of each type of cancer, analyze the most recent treatments and then allow his company to then put together these information for physicians. Healthcare practitioners will then be able to help people overcome the symptoms associated with cancer.
The main focus of the data analytics is to provide specific information that will allow physicians to get a better understanding of cancer and how it can be treated. Lefkofsky data analytics approach will usually entail pulling clinical data out of large medical systems and then getting abstract data and structure it into clinical records. It would then combine both clinical and molecular data. This would then eventually be turned into bioinformatics and analytical tools that would help physicians more efficiently diagnose and treat various forms of cancer. All of these things have been able to be completed in real time the data analytics provided by Tempus.
Shortly after putting together the data analytics in order to help address cancer, Eric Lefkofsky first demonstrated this at academic medical centers. This allowed medical schools and their supporting facilities to experiment with the new data analytics tools. It worked well for them and then Eric would expand his data analytics system to other medical facilities in the near future. By using the data analytics approach, Eric Lefkofsky has revolutionized the way in which caner is both diagnosed and treated.
Eric Lefkofsky is a longtime entrepreneur based in Chicago, Illinois. He is the current founder of the company Tempus. He started up this cancer treatment company after running a number of other successful companies. Lefkofsky has been involved in running well known companies such as Groupon. After a successful period of several years starting up businesses, Eric looked to begin operating a business in the healthcare industry. Along with being a successful entrepreneur, Eric has also been very involved in helping his community by participating in a number of philanthropic activities. Find out more about Eric Lefkofsky: https://www.bloomberg.com/news/videos/2018-11-28/tempus-ceo-lefkofsky-on-data-driven-medicine-video