TOKYO (Reuters) – Japanese technology investor SoftBank (TYO:) Group has launched a joint venture with Tempus AI that aims to analyze personal health data using artificial intelligence (AI) to make treatment recommendations, Chief Executive Masayoshi Son said at a briefing. in Tokyo.
This is the latest investment in AI that SoftBank recently announced as it ramps up the pace of its investment activity after several years of lull.
SoftBank invested about $200 million in Tempus in a Series G funding round in April before Tempus listed on the Nasdaq in June.
The two companies hope to bring artificial intelligence-based treatment recommendations and clinical trials to the Japanese market, which will be the only healthcare market outside the U.S. where such services will be available, Son said at a briefing.
Each party is expected to invest 15 billion yen ($93 million) in the venture, which is expected to close in July, subject to the satisfaction of closing conditions, SoftBank said in a statement.
Tempus’ share price fell to about $27.50 on June 26, down from its initial public offering price of $37 on June 14.
($1 = 160.5400 yen)