Acacia Research buys 11.8% stake in Sensyne Health
US-based Acacia Research has acquired LF Equity Income Fund's 11.8% stake in AIM-listed artificial intelligence specialist Sensyne Health.
Commenting on the transaction, Acacia boss, Clifford Press, highlighted the "extraordinary potential of Sensyne’s business model".
Other top shareholders in the AI healthcare company included hedge funds Lansdowne Partners and Gatemore Capital Management, Reuters reported citing Refinitiv data.
Reuters also cited Gatemore's chief investment officer, Liad Meidar, according to whom Sensyne shares were expected to rise to 300-400p inside of the next three years.
Sensyne shares were 0.82% lower at 60.5p as of 1242 BST.