NEW YORK, Oct. 6, 2021 /PRNewswire/ -- Gatemore Capital Management ("Gatemore") is pleased to announce its participation in the International Lightning Round of this year's 13D Monitor Active-Passive Investor Summit.
Gatemore is presenting one of its top positions, Sensyne Health plc (AIM: SENS), a healthcare artificial intelligence technology company based in Oxford, UK. Sensyne has assembled one of the most valuable healthcare data sets globally, which it analyses on behalf of Big Pharma companies using AI and machine learning to accelerate R&D, improve and optimize clinical trial outcomes, reduce approval times, discover new drug targets, and reduce trial costs. Sensyne currently has access to 64 million patient records in the US and UK, with a target of 140 million by the end of 2024.
In July 2021, Gatemore wrote a letter to the Board of Sensyne 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). Gatemore believes that Sensyne's ambitions have outgrown the junior market, and that a listing in the US will confer a number of benefits:
- Access to the largest and leading growth-focused market: NASDAQ is the leading growth stock exchange in the world and features 980 healthcare stocks (30% of the index) vs. 80 on the AIM (10% of the index)
- Access to deeper pools of capital and a diverse range of long-term growth investors
- Higher valuation: companies listed on NASDAQ typically trade at materially higher valuation multiples
- Higher liquidity: stocks listed on NASDAQ benefit from significantly higher liquidity
- Broader healthcare focused research coverage: enhanced company profile with US-based specialist healthcare analysts
Gatemore was therefore pleased to see Sensyne's subsequent announcement, following constructive dialogue, that the company would explore a secondary listing on the US-based Nasdaq index as part of a strategic review. Such a listing should help close the tremendous valuation gap between Sensyne and comparable companies, some of which trade at 30x to 300x the value of Sensyne on an enterprise value to patient records multiple.
Liad Meidar, Managing Partner at Gatemore, commented: "Sensyne has accumulated one of the largest and fastest-growing sets of ethical, de-identified and anonymized real world patient data. With NHS and US health partners receiving equity and shares of future revenue, and a customer base with 100% retention that already includes Roche, Bayer, and Bristol Myers Squib, Sensyne's unique business model has already been validated. We expect management to announce additional agreements with Big Pharma clients in the near future, which will further demonstrate Sensyne's potential.
"Today, we believe Sensyne is well-positioned to become a global leader in one of the fastest growing segments in healthcare technology, and we look forward to following its progress in the next stage of its development."
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SOURCE Gatemore Capital Management LLP