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Sensyne Health a 'buy' says broker as Bayer extends contract

Sensyne will join Bayer's LifeHub UK, an initiative to study disease detection and data-driven drug discovery focusing entirely on artificial intelligence

Sensyne Health PLC - Sensyne Health a 'buy' says broker as Bayer extends contract
The deal follows Monday’s announcement with “a Fortune 200 company and a data infrastructure specialist” to launch and scale its existing licenced products in the US

Sensyne Health PLC (LON:SENS) was hailed by broker Liberum after it announced an extension of its contract with pharma giant Bayer AG and encouraging development earlier in the week.

Brokers Liberum and Peel Hunt recommend to “buy”, as the AIM-listed firm is improving quickly in delivering direct benefits to the patients, as well as gaining traction in the pharma sector.

READ: Sensyne Health readies for US launch as it closes “pivotal year”

The Oxford-based firm uses artificial intelligence (AI) to analyse real-world evidence of anonymised data provided by NHS Trusts, which retain control over such data as none of it is sold to third parties.

It landed its first major deal with Bayer in July to accelerate the clinical development of new therapy for cardiovascular disease.

With the extension, Sensyne will join Bayer's LifeHub UK, an initiative to study disease detection and data-driven drug discovery focusing entirely on AI.

The project, inaugurated today, will begin on radiology solutions analysing research from three million NHS patient records, “ethically sourced” and anonymised.

The deal follows Monday’s announcement with “a Fortune 200 company and a data infrastructure specialist” to launch and scale its existing licenced products in the US.

While Sensyne did not disclose financial details for any deals, house broker Peel Hunt forecasts double-digit million revenues by 2022, rising to high tens of millions within five years.

Quick facts: Sensyne Health PLC

Price: 102.5 GBX

AIM:SENS
Market: AIM
Market Cap: £131.79 m
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