Revenues more than quadruple at Oxford based clinical AI company Sensyne Health

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Nicky Godding

The Oxford-based clinical AI company, Sensyne Health, has reported unaudited revenues of at least £9 million, up from £2.1 million last year.

Lord (Paul) Drayson, Chief Executive Officer of Sensyne Health, said: "Covid-19 has accelerated the demand for deeply curated real world patient data and AI analytical tools to inform effective decision making in the delivery of patient care and the efficient development of new medicines. Sensyne Health's partnership model for the ethical use of patient data, in partnership with the NHS and US healthcare providers, has enabled it to build a leadership position in clinical AI that is reflected in our robust growth in data and revenues.

"The Company is now well placed to capitalise on this growth to become the global leader in the ethical application of clinical AI to patient data."

The company's strong revenue growth were driven by contracts with life sciences companies, with the majority of the £4.8 million minimum revenues from MagnifEye AI technology contract with Excalibur Health Services.

The company has also accelerated the growth of its de-identified and anonymised real world patient database with access to total of 18.2 million unique records from the UK and the US.

Sensyne now has access to more than 8.5 million patient records in the UK, a three-fold increase during the financial year, following the signing of six new strategic research agreements with NHS Trusts. The company says that this provides coverage of around 13 per cent of the UK population and a significant step towards the target of around 20 per cent.

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.