Chicago's most valuable tech startup made multiple moves this week as it looks to expand its genomic-sequencing technology.
Tempus announced Wednesday that it has acquired AKESOgen, an Atlanta-based genomics lab and data company that provides sequencing, biomarker profiling and other analysis to clients in biotech, pharmaceutical, government and other industries. Terms of the deal weren't disclosed, but the company said the move will help it expand into disease areas outside of cancer and operate lab space beyond its Chicago headquarters.
Tempus, a cancer-fighting startup from Groupon founder Eric Lefkofsky, uses machine learning and genomic sequencing to better understand a patient’s tumor and tailors treatment plans best suited to combat it. The startup said earlier this year it planned to bring its genomic-sequencing tech to areas beyond cancer, including diabetes and depression.
“AKESOgen’s breadth of capabilities strategically complement our own, and we look forward to bringing the power of data and artificial intelligence to healthcare and advancing the field of precision medicine together," Lefkofsky said in a statement.
In May, Tempus raised a $200 million round at a $3.1 billion valuation, making it the most valuable private tech startup in Chicago.
On Thursday, Tempus also announced a partnership with CVS, where the startup will help the pharmacy chain launch its Transform Oncology Care, a program that offers precision medicine strategies for payors. It will use genomic testing results from Tempus at the "point-of-prescribing" to make sure patients get started on the best treatments and clinical trials. The goal, CVS said, is to improve patient care and lower healthcare costs by starting the best form of treatment as soon as possible.
"Timing in cancer care is everything and when a patient does not get started on the right treatment it can result in progression and higher costs," Alan Lotvin, executive VP and chief transformation officer at CVS Health, said in a statement. "We are the first company working to make the latest in precision medicine accessible to more patients and further empower informed treatment decision-making based on a patient's genetic profile to give them the best chance for successful treatment and improved quality-of-life."
