Sensyne Health plc, the UK Clinical AI company, announces that it has signed an exclusive licence and development agreement with Excalibur Healthcare Services Limited (“Excalibur”) to apply Sensyne’s MagnifEye system for use with Excalibur’s proprietary lateral flow rapid diagnostic tests across a range of indications including its COVID-19 antigen test currently being marketed in the UK and across Europe. In recent trials, the Excalibur COVID-19 antigen lateral flow diagnostic test has out-performed other competing lateral flow tests with its speed, sensitivity and reliability. The test has been approved by the UK regulator for mass population screening in symptomatic and asymptomatic people.
The MagnifEye system (“the System”) is Sensyne’s proprietary software application available as both a smartphone app and a web application, that uses a cloud-based deep learning algorithm to automate the reading and analysis of different diagnostic tests including lateral flow tests. The System has been adapted to Excalibur’s already high-performance lateral flow Antigen test. The System trains users to administer a lateral flow test, then interpret that test and provide a shareable digital certificate that validates the training of the user, the test result and resulting health status. It is anticipated that this will facilitate frequent testing, both for COVID-19 and a range of other conditions.
Excalibur will market the System alongside its current and future portfolio of lateral flow tests globally to customers in both the public and private sectors, with Sensyne acting as its critical clinical AI technology supplier, underpinning each new product. Excalibur will pay Sensyne a royalty each time the System is used to read a lateral flow test with a minimum guaranteed royalty sum of £4.8 million payable over the first two years of the agreement. The analytical capacity of the System at launch will match Excalibur’s current lateral flow test manufacturing capacity of approximately three million tests per day (approx. 1.1 billion test per year).
The initial focus will be on use of MagnifEye for COVID-19 antigen testing, followed by its potential application in new lateral flow diagnostic tests for serology, cancer and other disease conditions that Excalibur is currently developing. Beyond this agreement, Excalibur and Sensyne will seek to collaborate on the development of further projects that combine Excalibur’s expertise in the development and marketing of high-quality diagnostic tests with Sensyne’s expertise in the development and supply of software systems using clinical AI.
