Oxford, UK; 21 January 2020: Sensyne Health plc (LSE: SENS) (“Sensyne” or the “Company” or the “Group”), the British Clinical AI technology company, today announces its Interim Results for the 6 months ended 31 October 2019.
Lord (Paul) Drayson, CEO of Sensyne Health, commented:
“I am pleased to report that Sensyne Health has made excellent commercial and scientific progress in the first six months of the year. The Company has met all of the 24-month objectives set out at the time of the IPO in August 2018 ahead of schedule and we are now very well positioned to progress our strategy. We are making good progress on work with our pharmaceutical partners, Bayer and Roche, as well as our clinical AI software development partners, Cognizant and Agorai. Consequently, we currently have significant visibility of a minimum £2m of revenue being earned in FY20 from our existing contracts. However, the Board believes that the current share price does not reflect either the value of what the business has achieved to date, or the significant growth prospects available to Sensyne Health in future.”
· Signed first major pharmaceutical collaboration agreement for £5m with Bayer to accelerate the development of new treatments for cardiovascular disease using Clinical Artificial Intelligence
· Signed agreements with Cognizant and Agorai as partners for the launch and sale of our digital health software products in the U.S.
· Entered into additional partnership with Bayer on new UK artificial intelligence ‘LifeHub’ for data-driven drug discovery, disease detection and diagnosis
· Entered into a formal research agreement with the UK MHRA (Medicines and Healthcare products Regulatory Agency) to contribute to the development of methods to validate software algorithms used in digital health
· Entered into a partnership with Evotec, Oxford University Innovation, Oxford Sciences Innovation and the University of Oxford called LAB10x to accelerate the commercialisation of the next generation of digital therapeutics and data-driven drug discovery from Clinical Artificial Intelligence research and digital health innovations
· The number of unique patients represented in the data held by NHS partner trusts stands at 2,367,000 (FY19: 2,105,000)
· 27,234,000 patient admissions represented in the data held by NHS partner trusts (FY19: 20,057,000)
· Signed research collaboration with Roche to apply artificial intelligence for clinical trial design
· First project selected to receive funding from LAB10x partnership, ParkAI, a clinician-driven tool to manage the symptoms of Parkinson’s disease
· Total revenues of £0.4m for the period to 31 October 2019 (HY19: £0.0m)
· Adjusted operating loss from continuing operations of £7.4m (HY19: £5.1m)
· Operating loss of £9.8m for the period to 31 October 2019 (HY19: £10.3m)
· Cash and cash equivalents of £40.5m at 31 October 2019 (FY19: £49.3m)
Analyst and Investor briefing
Lord Drayson, Chief Executive Officer, and Lorimer Headley, Chief Financial Officer, will present the interim results for analysts and investors today at 12.00 GMT. There will be a simultaneous live conference call and webcast. For more details please contact firstname.lastname@example.org at Consilium Strategic Communications.
A replay of today’s webcast of the meeting and the presentation slides will be available on the investor section of Sensyne Health’s website after the event at https://www.sensynehealth.com/investors/investor-hub
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