Tempus is a technology firm that was co-founded by its chief executive officer, Eric Lefkofsky. The idea of this company came about a few years ago when a family member was being treated at a hospital for cancer. What he found rather surprising was the oncologists didn’t have access to the modern technology that is revolutionizing other industries. He sought at any individual or business that was working on using technology at scale for cancer care but came up empty.
Eric Lefkofsky says that he and his long-time business partner, Brad, usually come up with business ideas when they are trying to find a solution to some problem. If the issue isn’t being addressed at all, or not at the right scale, they will co-found a company to solve it. They have followed this plan of action for the past 20 years, building up new companies including Groupon, Lightbank, Echo Global Logistics, Uptake Technologies, Innerworkings, and Mediaocean.
Tempus provides a way for physicians to treat cancer care patients using artificial intelligence, machine learning, and genomic sequencing. They built a platform that has the genomic sequencing of many prior cancer patients. This information, along with the outcomes of the patients, is used to figure out what the best course of treatment is for current patients. It’s big data applied to medicine and is being used in more and more hospital across the United States and at some point the world.
Asked what trend in the world most excites him and Eric Lefkofsky answers with biotechnology. He has lived through some of the largest technological revolutions ever such as the microprocessor, the internet, and mobile devices. He feels that biotechnology will dwarf all of these advances. Doctors today can look inside their patients and figure out how to treat diseases that have been with people since forever. People will lead longer and healthier lives than ever before. He feels it is a very interesting time to be involved in the life sciences and biotechnology, getting a first-hand look at the revolution.
Are you interested in cancer research? Have you ever heard of Seattle Genetics? Seattle Genetics is by far one of the best biotech companies in the world that specializes in fighting cancer. The company is located in Bothell, Washington, and it has up to 1,000 employees. Developing and commercializing antibody-drug conjugates is big-business, but all cancer research companies aren’t the same. Great companies tend to have great leadership and this is what separates Seattle Genetics from the pack. Dr. Clay Siegall comes in the form of chief executive officer as well as the president. He has been in the business for over three decades, and he has worked with the best-of-the-best.
Since the birth of Seattle Genetics in 1998, Siegall has been on a never-ending quest to fight cancer. Unlike the medications of the past that used radical treatments, Seattle Genetics use some of the most innovative antibody-drug conjugates. These advanced drugs are targeted because they will attach themselves to cancer cells in the body without harming any of the good cells. This drastically cuts down on unwanted side effects, which can be even more sickening than the disease itself. Siegall is a strong believer of scientific innovation, drug development and rigorous research. “The company didn’t become profitable until 10 years after its IPO’s inception,” said Siegall. As of today, Seattle Genetics earn revenue from licensing its technologies, by selling its proprietary medications and from production partnerships.
In the years of 1999 and 2000, the company was going through generated-revenue fairly quickly. This action caused Seattle Genetics to batten down the hatches by employing a dynamic sales team. This sales team had extensive knowledge in business as well as biotechnology. This important face of the company began to close many six-figure deals, which pulled the company back from the black. Dr. Clay Siegall is in full-control of the company’s destiny and many more things are expected in the near future.