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Healthcare technology group Sensyne Health posted a deeper annual loss amid a rise in R&D spending.
Pre-tax losses for the year through April amounted to £22.6 million, compared to losses of £19.0 million year-on-year. Revenue rose to £2.1 million, up from £0.1 million.
Operational highlights during the year included the signing of agreements with Cognizant and Agorai as partners for the sale of digital health software products in the US.
The company also signed is first major pharmaceutical collaboration agreement for £5 million with Bayer to accelerate the development of new treatments for stroke and cardiovascular disease using clinical artificial intelligence.
'Sensyne has made significant commercial and technological progress in the past 12 months, despite a number of challenges and the dramatic changes triggered by Covid-19,' chief executive Paul Drayson said.
'I am particularly proud of how the company has developed solutions to some of the challenges that have arisen during the course of the pandemic.'
'Sensyne's achievements over the past year highlight the dedication and proficiency of our employees who are committed to supporting the company's mission to improve patient care and accelerate pharmaceutical research.'
'Recent developments have underlined the growth potential that our model can deliver as healthcare moves towards wider adoption of clinical AI and remote patient monitoring.'
At 9:06am: (LON:SENS) Sensyne Health Plc Ord 10p share price was -3.5p at 57p