Tempus AI signs data deals with Bristol Myers Squibb and Pathos worth up to $192.5 million
Tempus AI has signed a set of agreements with Bristol-Myers Squibb and Pathos AI that together could bring it $192.5 million in cash over about five years, according to an 8-K filing on Friday.
The deals expand BMS's access to Tempus's de-identified oncology data and license neurology data to Pathos for use in its collaboration with BMS.
The oncology deal
Under a statement of work signed Oct. 14 under an existing 2018 agreement, Tempus will license de-identified multimodal oncology records to BMS, give it access to Tempus's Lens analysis software and provide research services. BMS will pay $137.5 million in fixed payments, invoiced quarterly through the term ending Dec. 31, 2031.
BMS can use the data with Pathos's Foundry drug development platform. It can end the agreement with 12 months' notice and a substantial termination fee, the filing said.
The neurology deal
Under an order form signed Oct. 22, Tempus will aim to deliver 500,000 de-identified records of patients with Alzheimer's disease or other neurological conditions to Pathos, at 100,000 records a year over five years. Pathos also gets a license to an agentic tool for analyzing the data.
Pathos will pay up to $55 million: $50 million in data fees at $100 per delivered record, plus $5 million for record updates. Because the fees depend on records delivered, the amount Tempus earns will hinge on delivery, the filing said. A side letter lets Pathos sublicense the data to BMS and limits Tempus from licensing those records to other third parties for a period.
By the numbers
- Total potential payments: $192.5 million
- BMS oncology fixed payments: $137.5 million through 2031
- Pathos neurology fees: up to $55 million
- Neurology records: 500,000 over five years
Sources
- Tempus AI, Inc., Form 8-K filed Oct. 23, 2026, accession 0001193125-26-429533
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.
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