Healthcare AI company Sensyne raises £60 million in its IPO
Sensyne Health, a healthcare technology company led by biotech entrepreneur and former UK Minister for Science Lord Paul Drayson, has raised £60 million in its initial public offering on the London Stock Exchange. The company will have a market capitalisation of £225 million on admission.
It is expected that dealings in ordinary shares will commence on the AIM market on Friday August 17.
Oxford-based Sensyne uses artificial intelligence algorithms developed by researchers at the University of Oxford and Oxford University NHS Foundation Trust to analyse and interpret anonymised patient data in collaboration with its NHS Trust partners.
From this analysis, the company seeks to discover new insights that improve patient care and are of significant value to pharmaceutical companies throughout the research, development and commercialisation process for medicines. These insights lead to the creation of new intellectual property, including patents, that may be licensed to pharmaceutical companies in return for upfront payments,
The company acts as a ‘docking station’ between pharmaceutical companies and NHS Trusts; no data are sold nor is any ownership or control of data transferred to the company or its pharmaceutical collaborators. The financial returns generated by Sensyne are shared with its NHS Trust partners via equity ownership in the company and a share of royalties.
Sensyne also generates data from its own digital health software products that are being used by a number of NHS Trust customers. The Company has lead discovery programmes in respiratory, cardiovascular and neurological diseases and immunological diseases and cancer.
Sensyne Health has been set up to be an exemplar of how a commercial company can partner with the NHS to improve patient care and generate value from anonymised patient data in an ethical way. The company acts as an interface between the NHS and pharmaceutical companies.
Lord Drayson, Sensyne CEO, said: "“We are delighted by the support shown by investors for our business and our partnerships with NHS Trusts. Our double-bottom line strategy provides a financial return to our partner NHS Trusts via equity ownership in the Company and a share of royalties. Our strong Board and best practice approach to information governance will ensure that the full potential of AI powered analysis of anonymised NHS data is realised, providing benefits to patients and a financial return to the NHS.”
