Data analytics company run by Paul Drayson says money could run out in weeks unless it finds emergency funding
Julia KolleweFri 14 Jan 2022 13.55 EST
Shares in Sensyne Health plummeted after the healthcare technology company run by Paul Drayson, the former UK science and defence minister, said it could run out of money within weeks if it was unable to secure emergency financing.
Shares in the Aim-listed company fell 72.7% – or 54.9p – to 20.6p, a record low, and far below the flotation price of 175p in August 2018. Trading was briefly suspended by the London Stock Exchange, for five minutes.
After a turbulent time on the market, Lord Drayson, a Labour peer and engineer who founded the data analytics specialist in 2018, wants to take the business private. He and his wife, Elspeth, the daughter of scientist Brian Bellhouse, are the biggest shareholders in Sensyne with a 22.8% stake.
Read More: https://www.theguardian.com/business/2022/jan/14/labour-peers-ai-healthcare-firm-sensyne-warns-cash-is-running-out