Oxford University Hospitals and the University of Oxford agree digital health deal with Drayson Technologies

A 5-year strategic research agreement (SRA) between the University of Oxford (OU) and Oxford University Hospitals NHS Foundation Trust (OUH), and Drayson Technologies Limited has been announced in the field of digital health.

Millions of NHS patients are to benefit from the commercialisation of technologies invented in Oxford in a landmark deal between Drayson Technologies and a partnership between the OU and OUH. The technologies have been trialled and developed by the OU and OUH in the Oxford Biomedical Research Centre (BRC) funded by the National Institute for Health Research (NIHR).

The ‘ground-breaking’ SRA will create a pathway for the production of word-class digital health products, commercialised globally by Drayson Technologies.

The SRA ensures that the technologies can be commercialised so they can benefit patients across the NHS and overseas, but it also means that some of the profits will come back into the NHS Trust and OU to benefit more patients and fund more research. Drayson Technologies will sponsor significant further research and clinical validation of digital health products over the next 5 years.

The OU and OUH will receive in aggregate £5 million worth of equity in Drayson Technologies as part of the Series C funding round. To support the SRA, Drayson Technologies has raised a £10 million Series C investment led by investor Woodford Investment Management. It has raised over £41 million to date, and this most recent round of investment will enable it to continue to understand the health of an individual in the context of their environment and generate actionable information and discoveries that improve health and reduce healthcare costs.

Drayson, chairman and CEO of Drayson Technologies, said: “Chronic disease affects the lives of millions of people as well as accounting for around 70 per cent of NHS costs. Digital health technologies offer the potential to make a huge difference for these people and save money for the NHS. This highly innovative partnership will ensure that there is a pathway from invention to commercialisation for digital health products created in Oxford that will deliver benefits to patients and reinvestment back into the University and the NHS Trust.”

Peter Knight, Chief Information and Digital Officer at Oxford University Hospitals NHS Foundation Trust, said: "I am delighted that the Trust and the University of Oxford, working in partnership, have reached this agreement with Drayson Technologies. Working together will allow us to bring technologies that we invent and develop together to our patients faster. We will also be able to reinvest royalties from the results of research and development created in the partnership of the University and NHS back into our services for the benefit of our patients.”