Covington Advises AIM-listed Sensyne Health on £27.5m Fundraising and Strategic Deal

Covington Advises AIM-listed Sensyne Health on £27.5m Fundraising and Strategic Deal

January 13, 2021

LONDON–Covington advised Sensyne Health plc, a UK clinical artificial intelligence company listed on the London AIM market, on its £27.5 million equity fundraising. The fundraise consisted of a placing with institutional investors, a subscription by directors and senior management, and an open offer to the company's existing shareholders.

Covington also advised Sensyne Health on its exclusive strategic collaboration with, and a $10 million equity investment in, Phesi, Inc, a U.S.-based specialist clinical trials data company. Through the collaboration, Sensyne Health and Phesi will offer pharmaceutical companies services using a combination of real world data and clinical data.

Covington has handled a range of transactions and regulatory matters for Sensyne Health, including in connection with its IPO on London’s AIM market in 2018 and negotiating various strategic agreements with UK National Health Service Trusts.

Working together with Sensyne Health’s in-house legal team, the UK-U.S. Covington team included: Simon Amies, Michelle Davies, and Azumah Cofie (London corporate); Scott Naturman, Alison Sikes, and Travis Gunn (New York corporate); Matthew Gehl (New York capital markets); Daniel Pavin, T'Shae Sherman, and Jian Zhang (London and New York technology transactions); Christina Kuhn (regulatory); and Jonathan Wakely (CFIUS).