IPO Insights with RenalytixAI PLC
RENALYTIX AL PLC
COMPANY DETAILS
Ticker:
Market: AIM
Money Raised: £22.5m
List date: 6 November 2018
RenalytixAI uses artificial intelligence to analyse different sources of information including blood-based biomarkers, genetics and large electronic health record data bases to improve diagnosis and clinical management of kidney disease.
The Company is a spin-out of AIM-listed EKF Diagnostics Holdings plc and it’s lead product KidneyIntelXTM, which is being developed in close collaboration with Mount Sinai and other large US academic medical centres, is due to launch in 2019.
Mount Sinai is an expansive health system in the US, caring for diabetics and patients of African ancestry, the two major population groups most affected by kidney disease and dialysis. The Company can leverage from Mount Sinai’s substantial data warehouse containing over 3 million patient health records.
Julian Baines, Executive Chairman of RenalytixAI commented on the partnership with Mount Sinai: ‘I believe that this partnership will result in RenalytixAI being leaders in the field of kidney care, alongside Mount Sinai.’
AI-enabled diagnostics can process large amounts of information from disparate data sources that would be difficult or impossible for a human clinician, all of which can have predictive value to better understand current health status and future outcomes.
AI-enabled diagnostic products such as KidneyIntelXTM can introduce a new level of personalised medicine by providing diagnostic information for specific patient subtypes. For example, in patients of African ancestry, who are three times more likely to be afflicted by kidney disease than Caucasians, the standard version of the product is enhanced by a genomic test to detect risk variants in the APOL1 gene.
Importantly, the AI engine learns over time with more use and more longitudinal data input from each patient. Rena- lytixAI believes that combining blood-sourced proteins and genetics with large electronic health record data bases can potentially create powerful models for prediction of disease progression, drug therapy response and clinical manage- ment strategies that can have impact on outcomes across the kidney disease spectrum.
Kidney disease is now recognised as a public health epidemic affecting over 850 million people globally and is seen as one of the largest unmet medical needs today. Often end-stage renal disease is known as the ‘silent-killer’ as the patient often doesn’t have any symptoms until too late.
Current tests have low predictive power for kidney function decline but early intervention with RenalytixAI’s technolo- gy should be able to predict kidney failure a lot sooner, improving the patients outcome and providing substantial healthcare savings.
Speaking about the technology Dr. Steven Coca, Co-Founder of RenalytixAI said: “The state of affairs in kidney disease is so poor that a quantum leap is available to us with artificial intelligence. We can transform how we identify, monitor and treat one of the largest and costliest diseases in history.’
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