Sell exclusivity as a window with an end date, priced on its own, rather than forever
The newest disclosed exclusive terms run for a stated time. Tempus's licence of neurology records to Pathos AI ($100 a record) bars licensing the same records to anyone else only until 18 months after each delivery; Troveo says its exclusivity is time-limited and has to be earned, with exit terms in the agreement (lever data-products-earn-by-resale-and-refresh-not-exclusivity has a leads market where 'exclusive' can mean 72 hours). Exclusivity forever is the exception in the disclosed record.
Dated 23 Oct 2026Source checked 23 Oct 2026Quote found on its page again 26 Oct 2026Basis: indicative
In the source's own words
“Tempus will not license the applicable neurology data records to any third party other than BMS, Pathos, and certain subcontractors during the period beginning when an applicable record is first delivered to Pathos and ending 18 months after the later of (i) such delivery date and (ii) October 22, 2027.”
Where it was read
Also read from the same source
- De-identified records of patients with Alzheimer's disease or other neurological conditions, 500,000 records over five years (100,000 a year), licensed by Tempus AI to Pathos AI with sublicence to Bristol Myers Squibb
- Tempus AI to Bristol Myers Squibb: Statement of Work (the Onco SOW, signed 14 October 2026 under the parties' Master Services Agreement of 22 August 2018): Tempus licenses BMS certain multimodal records from its de-identified oncology dataset, gives it access to its Lens software to analyse them, and provides other data analysis and research services. The licence covers BMS's use of the data with Pathos AI's Foundry drug development platform, which BMS licenses separately from Pathos. Term to 31 December 2031; BMS may terminate on 12 months' written notice with a substantial termination fee. The number of records is not stated. Announced on 23 October 2026 with Tempus's neurology licence to Pathos AI; the two total $192.5 million over about five years.
- Tempus AI to Pathos AI: Order Form (the Neuro Order Form, signed 22 October 2026 under the 2024 Tempus and Pathos master agreement): Tempus will use commercially reasonable efforts to deliver and license 500,000 de-identified records of patients diagnosed with Alzheimer's disease or other specified neurological conditions, 100,000 a year over a five-year term, plus a licence to its agentic analysis tool (the Tempus Agent). Pathos may use them internally and to support Bristol Myers Squibb's therapeutic development; a side letter among the three, also of 22 October, consents to the sublicence to BMS. Exclusivity: Tempus will not license the applicable records to any third party other than BMS, Pathos and certain subcontractors from first delivery until 18 months after the later of that delivery and 22 October 2027. A related-person transaction (overlapping leadership and equity), approved by a special committee of disinterested Tempus directors. Pathos, a clinical-stage AI drug developer and the buyer here, announced the same day a $237 million Series E led by Bristol Myers Squibb at a post-money valuation of approximately $3 billion (Pathos's own release, https://www.pathos.com/news); Pathos is not tracked as a data company, so the round is named here and not recorded in funding.
- A company's operational data, Troveo estimator output: 100 employees, 8 to 15 years of operating
- A company's operational data, Troveo estimator output: 1,000+ employees, 15+ years of operating
- A company's operational data, Troveo estimator output: 20 employees, 3 to 7 years of operating
Figures it counts in
It is shown on its own, not counted into a figure.