OXFORD-BASED healthcare technology company Sensyne Health has raised £60m after an initial public offering of shares on the stock exchange.

Staff at the company work to speed up the discovery and development of new medicines and improve patient care through the analysis of evidence from large databases of anonymised patient data, in collaboration with NHS trust partners.

The company uses clinical artificial intelligence algorithms developed by researchers at Oxford University and Oxford University Hospitals NHS Foundation Trust.

Staff insist that Sensyne Health only acts as a ‘docking station’ between pharmaceutical companies and NHS trusts; no data is sold nor is any ownership or control of data transferred to the company or its pharmaceutical collaborators.

Lord Drayson, CEO of Sensyne Health, said: “We are delighted by the support shown by investors for our business and our partnerships with NHS trusts.

“Our strategy provides a financial return to our partner NHS trusts via equity ownership in the company and a share of royalties.

“Our strong board and best practice approach to information governance will ensure that the full potential of AI-powered analysis of anonymised NHS data is realised, providing benefits to patients and a financial return to the NHS.”

In addition to the anonymised patient datasets analysed in collaboration with NHS trust partners, the company also generates data from its own digital health software products that are being used by a number of NHS trust customers.

The company has discovery programmes in the following four broad therapeutic areas – respiratory diseases, cardiovascular diseases, neurological diseases and immunological diseases and cancer.

Earlier this year a new piece of software allowing heart failure patients to take control of their treatment in their own homes was licensed by Sensyne Health as part of an agreement with Oxford University and Oxford University Hospitals NHS Foundation Trust.

Support-HF allows patients to record and track their health through an app and tablet so that, together with a patient monitoring website, doctors can ensure they are receiving the most appropriate treatment.

The company has an experienced team, led by Lord Drayson, that has built multiple £500m+ health and technology businesses over the past 15 years, with experience of initial public offerings, mergers and acquisitions and working within regulated healthcare and digital technology sectors.

CEO Lord Drayson is an engineer and science entrepreneur. In 1993 he co-founded, with his wife Lady Elspeth Drayson, the Oxford spin-out company PowderJect Pharmaceuticals. He floated PowderJect on the London Stock Exchange in 1997 and over 10 years as chief executive officer he built PowderJect into a profitable FTSE 250 business and one of the world’s leading vaccine companies. PowderJect was sold in 2003 for $890 million. In 2013 Lord Drayson set three FIA World Land Speed Records and four British Land Speed Records for electric vehicles, driving the Drayson B12/69EV wirelessly charged prototype electric racing car.