USA – Tempus AI has acquired Ambry Genetics from Konica Minolta for US $600 million, including US $375 million in cash and US $225 million in shares.
This move enhances Tempus’ offerings in hereditary cancer screening and genetic testing, further solidifying its position in the precision medicine landscape.
Founded in 1999 in San Diego by Charlie Dunlop, Ambry Genetics was acquired by Konica Minolta in 2017 for US $1 billion.
Headquartered in Aliso Viejo, California, Ambry will now operate as a wholly owned subsidiary of Tempus, retaining its workforce and full testing portfolio.
Tempus CEO Eric Lefkofsky highlighted the significance of integrating Ambry into Tempus’ precision medicine ecosystem:
“It’s critical to us because we want to capture patients early, support them during treatment, and monitor their disease progression over time,” he explained.
This acquisition follows Tempus’ purchase of SEngine Precision Medicine, bringing additional capabilities in organoid biobanking and immunotherapy testing.
Financial and strategic impact
The Ambry acquisition, partially funded by US $300 million in short- and long-term debt, supports Tempus’ expansion into new areas such as pediatrics, rare diseases, immunology, reproductive health, and cardiology.
Ambry is expected to generate US $300 million in 2024 revenue, growing at over 25% annually, with the deal anticipated to close in Q1 2025.
Tempus recently reported 33% year-over-year revenue growth in Q3 2024, reaching US $180.9 million, with projected full-year revenue of US $700 million.
Accenture and 1910 Genetics Collaborate to Revolutionize Drug Discovery
In another development, Accenture Ventures has partnered with 1910 Genetics, investing in its AI-powered platform to accelerate drug discovery and development.
The collaboration will integrate Accenture’s AI expertise with 1910’s Input-Transform-Output (ITO) platform, designed for end-to-end therapeutic innovation.
“1910’s AI platform addresses the challenges biopharma companies face with point solutions,” said Dr. Jen Nwankwo, 1910 Genetics’ founder and CEO.
The partnership aims to streamline processes from target identification to molecule design and testing, leveraging data-driven decision-making and cutting-edge AI technologies.
Dr. Petra Jantzer, Accenture’s global life sciences lead, emphasized the potential for AI to reshape traditional R&D processes.
Founded in 2021, 1910 Genetics operates from Boston, focusing on neurology, autoimmune diseases, and cancer.
FDA reports surge in AI-enabled medical devices
The FDA has authorized 950 AI or machine learning-enabled medical devices as of August 2024, marking significant growth from just six approvals in 2015. This trend reflects increasing investment, connectivity, and regulatory familiarity.
Key players like GE Healthcare, Siemens Healthineers, and Medtronic are driving innovation in AI-powered diagnostics and monitoring, while startups such as Aidoc and RapidAI focus on targeted solutions.
Cardiology ranks among the top specialties for AI-enabled devices, including tools for detecting heart arrhythmias and predicting heart failure risks.
The Tempus ECG-AF Cardiovascular Notification Software recently received FDA approval, showcasing the expanding role of AI in improving patient outcomes.
