Sensyne SRA with Royal Devon and Exeter NHS Trust
Sensyne Health and Royal Devon and Exeter NHS Foundation Trust sign Strategic Research Agreement
New agreement combined with NHS England approval of SRAs with George Eliot Hospital NHS Trust and Wye Valley NHS Trust brings combined total of anonymised data available to Sensyne to 8.5 million patients
Oxford, U.K. 30 April 2021: Sensyne Health plc (LSE: SENS) ("Sensyne" or the "Company" or the "Group"), the UK Clinical AI company, today announces that it has signed a five year non-exclusive Strategic Research Agreement (SRA) with the Royal Devon and Exeter NHS Foundation Trust ("RD&E" or "The Trust"). The agreement will enable the ethical application of clinical AI research to improve patient care and accelerate research into new medicines.
The RD&E dataset covers 1.2 million unique patient records, with 110,000 annual hospital admissions (2019/20) from a patient population of approximately 450,000 people.
Consistent with Sensyne's approach with all its relationships with NHS Trusts, this research will be undertaken to the highest standards of information governance and data security in accordance with NHS principles, the UK Government Code of Practice and data protection legislation. All data supplied to Sensyne will be anonymised by RD&E beforehand and the provision of the data will operate under an agreed Data Processing Protocol under RD&E ethical oversight.
The Trust will receive 1,428,571 ordinary shares in Sensyne Health plc representing 0.87% of the existing issued share capital of Sensyne. This brings the total share ownership held by NHS Trusts in Sensyne to 13.3% (as enlarged by the expected issue of shares to RD&E, George Eliot Hospital NHS Trust and Wye Valley NHS Trust).
RD&E will also receive from Sensyne an investment of up to £250,000 per year over the 5-year term of the contract for specific investments in information technology to enable the ethical curation and analysis of anonymised data under the SRA. The Trust will receive a royalty on revenues that are generated by Sensyne from the research undertaken under the SRA. The financial return RD&E receives from Sensyne will be reinvested back into the NHS to enhance patient care. The Trust has entered into a lock-up agreement whereby it has agreed not to dispose of any shares for a period of two years from the date the shares are issued.
Separately, Sensyne confirms that the SRAs with George Eliot Hospital NHS Trust and Wye Valley NHS Trust, announced on 28 January 2019, have now received NHS England approval. Together with the new RD&E agreement this brings the combined total of anonymised data available for analysis by Sensyne up from 6.8 million to 8.5 million patients.
The issue of new ordinary shares in Sensyne Health to RD&E, George Eliot Hospital NHS Trust and Wye Valley NHS Trust remains subject to receipt of a section 593 valuation report by the Company and a further announcement will be made in due course.
RD&E joins existing SRAs the Company has in place with Oxford University Hospitals NHS Foundation Trust, Chelsea & Westminster Hospitals NHS Foundation Trust, South Warwickshire NHS Foundation Trust, Wye Valley NHS Trust, George Eliot Hospital NHS Trust, Milton Keynes University Hospital NHS Foundation Trust, Somerset NHS Foundation Trust, Hampshire Hospitals NHS Foundation Trust and Royal Wolverhampton NHS Trust and a data access agreement signed with NHS Greater Glasgow and Clyde.
For more information please contact:
Sensyne Health (www.sensynehealth.com)
+44 (0) 330 058 1845
Lord (Paul) Drayson PhD FREng, Chief Executive Officer
Dr Richard Pye, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Joint Broker)
+ 44 (0) 20 7418 8900
Dr Christopher Golden
Liberum (Joint Broker)
+ 44 (0) 20 3100 2000
Consilium Strategic Communications
+44 (0) 77 0286 8207
About Sensyne Health www.sensynehealth.com
Sensyne Health plc Sensyne Health plc (LSE: SENS) is a clinical artificial intelligence company operating a unique business model - a for-profit plc making a positive social impact, sharing the financial returns it makes with health systems. The company applies clinical AI in the healthcare and life science industries. In healthcare, Sensyne delivers remote patient monitoring and real-time decision-making systems for healthcare organizations and their patients. In life sciences, Sensyne analyses large complex anonymized data sets to help life sciences companies accelerate the development of new medicines.
About Royal Devon & Exeter NHS Foundation Trust
The Royal Devon and Exeter NHS Foundation Trust (RD&E) provides a full range of integrated health and care services to around 450,000 people across Exeter, Eastern and Mid-Devon.