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.