Sensyne Health plc, the Oxford-based Clinical AI company, has announced total revenues up to £2.1 million for the full year to the end of April, up from £0.1 million in 2019).
Investment in research and development rose to £11.4 million, up from £9.5 million last year, and the company reported an operating loss of £22.4 million, up from £19 million last year.
Lord (Paul) Drayson PhD, CEO of Sensyne Health, said: “Sensyne has made significant commercial and technological progress in the past 12 months, despite a number of challenges and the dramatic changes triggered by COVID-19. I am particularly proud of how the company has developed solutions to some of the challenges that have arisen during the course of the pandemic. Sensyne’s achievements over the past year highlight the dedication and proficiency of our employees who are committed to supporting the Company’s mission to improve patient care and accelerate pharmaceutical research.
“Recent developments have underlined the growth potential that our model can deliver as healthcare moves towards wider adoption of Clinical AI and remote patient monitoring. We look forward to the future with confidence.”
In response to COVID-19, the company launched ‘SENSE™’, a clinical algorithm engine, created in partnership with Microsoft, and signed an agreement with Chelsea & Westminster Hospital NHS Foundation Trust to help provide more personalised care for patients with COVID-19. It also launched COVID-19 web-based CVm-Health™ ‘Good Neighbour’ app in the UK and in the US with support from Microsoft and Cognizant.
During the year the company signed agreements with Cognizant and Agorai as partners for the launch and sale of digital health software products in the USA and also signed its first major pharmaceutical collaboration agreement for £5 million with Bayer to accelerate the development of new treatments for stroke and cardiovascular disease using Clinical AI.
The company also entered an additional partnership with Bayer on new UK AI ‘LifeHub’ for data-driven drug discovery, disease detection and diagnosis.