Letter from Gatemore Capital Management LLP to Sensyne Health PLC

LONDON, July 19, 2021 /PRNewswire/ --

Sir Bruce Keogh, Chairman of the Board
Lord Paul Drayson, CEO
Sensyne Health PLC
Science Park
Schrödinger Building
Heatley Rd
Oxford OX4 4GE

Dear Bruce and Paul

As you are aware, Gatemore Capital Management LLP ("Gatemore" or "we") manages the Gatemore Special Opportunities Fund, which as of today, has an economic interest of approximately 5.9% in Sensyne Health plc ("Sensyne" or the "Company").

The purpose of this letter is to request that the Company take steps to achieve a secondary listing on the NASDAQ market in the US in addition to the LSE's Alternative Investment Market (AIM).  We believe this listing will unlock significant value and assist in positioning Sensyne to become a global leader in clinical AI, a field which is estimated to grow 40% per annum to $120 billion by 2028^[1] and will fundamentally change drug discovery and shape better global health outcomes.

In this letter, we will explain the rationale behind this request and detail why, in the next stage of Sensyne's growth journey, a secondary listing is the appropriate course of action to ensure an appreciation of the Company's intrinsic value in the market.

Background

We have been enthusiastic investors in Sensyne since January 2020, and have appreciated our collaborative engagement with both the Board of Directors and Management.  We have been particularly impressed with the progress you have made over the past year, including:

• amassing a database of 18.2 million total anonymised patient records, comprising 8.5 million from the NHS in the UK and, most recently, an additional 9.7 million from two US healthcare systems: St. Luke's University Health Network and the Colorado Center for Personalized Medicine;
• making an equity investment and executing an exclusive strategic collaboration with US-based Phesi and gaining access to an additional 13.5 million anonymised patient records, bringing your total accessible records to 31.7 million;
• the imminent completion and launch of the SENSIGHT database, comprising the standardisation and curation of patient records to dramatically reduce the time and labour needed to analyse data;
• partnering with top tier pharmaceutical, research, and technology companies and institutions including Bayer, Alexion, Roche, Bristol Myers Squibb, University of Oxford, Microsoft and Cognizant;
• conceptualising, creating, and monetising, in under three months, the MagnifEye AI-powered lateral flow test analysis platform;
• launching the SENSE clinical algorithm engine, using AI to help lower costs for hospitals, and improve administrative operations and clinical workflow; and
• improving dramatically the management team, board, and overall corporate governance.

With the advent of the state-of-the-art SENSIGHT platform, the Company can now offer high-volume, high-quality, easily-parsed disease-specific data to big pharma.  As we have seen, this is of significant value to drug makers who are finding increasing uses for this data, including to accelerate R&D, improve and optimise clinical trial outcomes, reduce approval times, find new drug targets and reduce trial costs. Sensyne already has such projects underway with Roche, Bayer, Bristol Myers Squibb and others.  Furthermore, we believe your strategy to monetise SENSIGHT on both a project basis and as a SaaS offering will prove successful.