The Future of Tempus: CEO, Eric Lefkofsky Talks IPO, Short Term Plans
Since its inception in 2016, Tempus has been on a fast track to success. The company, which Eric Lefkofsky leads, is currently considering an IPO, according to recent reports. In a statement to CNBC, the healthcare expert said that the company is “exploring” an IPO but stressed that there is no guarantee it will happen. Eric Lefkofsky stated: “We don’t want to be public for the sake of being public. We believe there’s incredible value in remaining private, and that’s an option we will always keep open,” Lefkofsky said.
“With all companies, but especially IPOs, you’re subject to quarterly scrutiny … It can be distracting.” In a recent interview with the Chicago Tribune, the investor said he is considering an IPO for Tempus in the short term. Eric Lefkofsky also mentioned that the company is on track to generate $100 million in revenue this year. Despite the possibility of an IPO, Lefkofsky says that its focus will remain on its patients.
“Our mission is to improve patient outcomes, and we’re not going to let anything get in our way,” he said. Tempus has raised over $220 million in venture capital to date. Some of its investors include New Enterprise Associates, Revolution Ventures, and many others. Recently, Eric Lefkofsky announced that Tempus medical research firm was teaming up with the Mayo Clinic to develop new technology for cancer research.
The company’s main product is NxThera, which provides cancer doctors with individualized treatment plans based on their patient’s genes. The system helps to find treatments that are tailored specifically to each patient. “What Tempus has done is build a technology medical platform that allows us to take all of the data we have on tumors, sequencing and molecular information, and match it up with treatments that are being used today. Or those researchers believe it might be useful in the future,” Eric Lefkofsky said.