Eric Lefofsky is helping to advance the medical industry

Many of us can agree that cancer is a horrible disease for anyone to have to deal with. Nearly one out of every three adults in the world knows somebody close to them that is either currently dealing with cancer or has battled cancer at one point in their life. The number of United States citizens living with cancer is expected to almost double by 2024. However, thanks to Eric Lefkofsky, co-founder of Groupon and Tempus, the technology within medical industry is improving. Lefkofsky is leading the way.

The medical industry is trying to keep up with electronic health records and other online spreadsheets, but there are still vacancies regarding collecting data. Lefkofsky never really understood the effects of cancer until his wife was diagnosed with breast cancer. There is a lot of data that is collected from all of the cancer patient hospital visits, but it is hard for other companies to harness that information and understand what point the information is trying to prove.

Tempus was created to help monitor and analyze data from a patients cancer scans and/or treatments. Obtaining the medical data was initially the biggest concern. It is hard to collect critical information about patients because the information is either stored in a secure safe that only medical staff can access or printed on existing notes.

Tempus is working on measuring and observing human genome sequencing. This process used to cost about $100 million dollars, but companies like Tempus are trying to improve technology so that the price drops into the hundreds of dollars.

Eric Lefkofsky is a successful American entrepreneur. He is the co-founder of Groupon and CEO of Tempus. Lefkofsky was born and raised in Michigan. He graduated from the University of Michigan in 1991 with the highest honors. Lefkofsky stayed in school for two more years to get his Juris Doctor. Now he has a net worth of just under $2 billion to know more: http://www.chicagotribune.com/classified/realestate/elitestreet/ct-elite-street-glencoe-groupon-lefkofsky-1211-biz-20161206-story.html click here.

His first job was selling carpet in college. After law school, him and a close friend bought an apparel company from Wisconsin. The first company he created was called Starbelly. It was an internet company.

Clay Siegall Is Championing The Development Of Twenty-First-Century Cancer Therapies

As an individual who holds a Ph.D. in Genetics and as co-founder and current CEO of Seattle Genetics, Clay Siegall is at the forefront of developing twenty-first-century therapies for cancer treatment. Adcetris, the company’s flagship drug fights lymphomas, while a dozen other drugs in the works will fight other cancers, including bladder and breast cancer. In 2016, Forbes named Siegall’s Seattle Genetics as number 71 on their Innovative Growth Companies list for their development of monoclonal antibody-based cancer therapies.

 

When Seattle PI spoke with Siegall about his Bothell, Washington-based Company, he admitted that his father had passed away due to brain cancer, which prompted him to help develop better therapies that made chemotherapy less toxic to the body. He co-founded Seattle Genetics in 1997 after Bristol Myer’s, the company that he relocated to Seattle to work at, closed their Seattle operations. After raising $37 million in venture capital funding, Siegall and his team focused on developing products for the ADC market. By 2011, Adcetris earned FDA approval and now, it is available in more than 45 countries worldwide. Seattle Genetics sells their new type of ADC platform in the U.S. and Canada, while Takeda Oncology markets Adcetris in other countries.

 

Siegall took the biotechnology company public in 2001, bringing in an additional $51 million in capital. Collaborations with other companies, including Abbott, Bayer, GlaxoSmithKline and Pfizer for its ADC technology bring in additional capital. Seattle Genetic’s collaboration with Pfizer alone brought in $8 million upfront, with additional payments and royalties likely. Under Siegall’s leadership, Seattle Genetics has raised over $145 million from licensing their proprietary technology ADC platform.