Tempus AI signs up to $192.5 million in data deals with BMS and Pathos
Tempus AI announced agreements with Bristol-Myers Squibb and Pathos AI to expand use of its de-identified real-world data, software and models, with aggregate cash payments to Tempus of $192.5 million over about five years. The Pathos neurology deal is a related-party transaction, reviewed and approved by a special committee of disinterested directors, which shareholders may weigh when assessing the agreements.
Key points
- BMS oncology Statement of Work runs through December 31, 2031, with $137.5 million in fixed payments invoiced quarterly.
- Pathos Neuro Order Form provides up to $55 million, including $100 per delivered record and $5.0 million for record updates; the total depends on records delivered.
- Pathos is a related party because of overlapping executive leadership and equity ownership, so a special committee of disinterested directors approved the neurology deal.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.