An artificial intelligence-focused healthcare technology company led by former UK science minister Lord Paul Drayson is moving ahead with plans to go public.

Sensyne Health is a digital healthcare firm which uses AI to develop medical products and services.

Led by chief executive Lord Drayson and chaired by Professor Sir John Bell, Sensyne works in partnership with university and NHS trusts to develop software that connects patients, clinicians and researchers.

It also uses AI technology to analyse anonymised real-world data and make new discoveries.

The company, formerly known as Drayson Health, is based in the Big Data Institute at the University of Oxford's Old Road campus.

Sensyne has remained tight-lipped about how much capital it hopes to raise through an initial public offering and its anticipated market capitalisation.

However, it has set August 17th as its expected date of admission to the AIM market of the London Stock Exchange.

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In addition to Sir John and Lord Drayson, the company's board of directors also includes renowned surgeon Sir Bruce Keogh as non-executive director.

Sir Bruce stepped down as NHS England's national medical director at the end of 2017 after 10 years in the role.

Sensyne recently signed a memorandum of understanding with the South Warwickshire NHS Foundation Trust to combine access to anonymised patient data with clinical AI technology - and has plans to sign similar deals with other NHS trusts.

 The company's broker and adviser is London-based brokerage Peel Hunt LLP.