Japanese technology investor SoftBank Group 9984.T opens new tab has launched a joint venture with Tempus AI TEM.O opens new tab that aims to analyse personal medical data using artificial intelligence as it hopes to come up with treatment recommendations, Chief Executive Officer Masayoshi Son said at a briefing in Tokyo.
This is the latest in a string of AI investments SoftBank has recently announced as it picks up the pace of its investment activity following a few muted years.
SoftBank invested about $200 million in Tempus in April as part of a series G funding round before Tempus’ listing on the Nasdaq in June.
Tempus genomic testing services, not to mention its recommendation services, are based on millions of patients’ clinical records in a database across the U.S. and are AI-informed treatment and clinical trials. The firms want to bring this service to Japan, which, according to Son during the briefing, would make it the only healthcare market outside of the U.S. for such services.
“Working with Tempus we’ll develop services at pace in Japan,” Son said. “With the database of 7.7 million U.S. patients we’re at a running start.”
The parties are expected to each put 15 billion yen ($93 million) into the venture, which is expected to close in July, subject to closing conditions, SoftBank said in a release.
The Tempus share price had fallen to US$27.50 on June 26 from its IPO price of US$37 on June 14.
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