Erik Lefkosky: Using Data and Algorithms to Help Cancer Patients

In 2015 Erik Lefkosky co-founded Tempus, a technology company that seems to consolidate health information of cancer patients. With that information, Lefkosky hopes to make that data useful and accessible to other physicians so they can learn from the data as well. The aim of this is to provide more information so that doctors can make better decisions for their patients in terms of treatments and diagnoses. Tempus collects the date, cleans it up, and makes it useful by analyzing it for algorithms and patterns. Tempus is rapidly becoming one of the most well known medical tech companies and has partnered with several medical organizations that aim to improve cancer outcomes and diagnoses. Those companies send their data to Tempus for analysis and Tempus sends that data back in the form of a report. Once that is completed, the doctors will have access to teh Tempus data which may help them in diagnosing their own patients. One of the ways this is done is by genomic sequencing which adds data on a molecular level. This gives doctors real time information that can be used to help their patients. Tempus could prove especially helpful for patients with Alzheimer’s since it could provide data to help diagnose it sooner, potentially making patient outcomes much more positive.

Erik Lefkosky is an entrepreneur who has founded and co-founded several companies. He graduated from the University of Michigan and earned his Juris Doctor from the University of Michigan Law School. Lefkosky has also authored a book titled Accelerated Disruption: Understanding the True Speed of Innovation.

Lefkosky has a history of giving back to the scientific community and becoming involved with numerous charities which support scientific causes throughout the globe. In addition to being a philanthropist, Lefkosky also serves as an adjunct professor at the University of Chicago’s Booth School of Business.

Eric Lefkofsky – The Jewish Tempus Co-founder and CEO

According to the article in the Forbes, billionaire Eric Lefkofsky created his fortune saving clients’ money on restaurants and travel with the Groupon GRPN +2.91%. He’s the co-founder of the Chicago-based Tempus together with Brad Keywell, which focuses on the use of genomic sequencing in helping doctors in customizing cancer treatments.

Recently, Lefkofsky announced thatTempus had raised 70 million dollars in the company’s series C funding round, which was from the investors New Enterprise Associates and Revolution Growth. The funding was part of the 130 million dollars raised since Eric Lefkofsky co-founded Tempus in the year 2015. The current fundraising puts Tempus valuation at roughly 700 million dollars.

Keywell and Lefkofsky, who is CEO, have invested in each Tempus fundraising round and remain its biggest individual investors. The previous year, Lefkofsky told the weekly business newspaper, Crain’s Chicago Business, that he was ready to invest up to 100million dollars in the firm. New investors Revolution Growth and NEA have funded companies such as personal genomics company 23andMe (NEA), salad chain Sweetgreen (Revolution), and stock trading app Robinhood funded by NEA.

Tempus uses technology to compile large genomic and clinical data quantities from cancer patients for doctors to use in cancer personalize treatment. Last year, Tempus announced partnerships with the Cleveland Clinic, Mayo Clinic, among others. Tempus said that it was building the largest library of molecular and clinical data for personalizing and improving cancer care. Lefkofsky said that across healthcare, and in oncology more broadly, datasets had historically been small as well as disorganized. However, technology had created room for new possibilities. For the first time, now it’s possible to amass large amounts of clinical and molecular data and make it benefit patients by putting it to work

Lefkofsky is a Jewish and was raised in Southfield, Michigan. In 1987, He graduated from Southfield-Lathrup High School. He attended the UMich (University of Michigan), where he graduated with honors in the year 1991. Lefkofsky continued at Michigan Law to earn his Juris Doctor in 1993. He’s on the BOD (board of directors) at the Chicago-based Children’s Memorial Hospital, The (AIC) Art Institute of Chicago, and MSI. He’s also Steppenwolf Theatre Company’s Trustee. He serves as co-chairman of World Business Chicago’s Technology Council.