RenalytixAI plc has raised $29 million from a network of institutional and industry health care investors. The company, a Mount Sinai licensee and development collaborator, works to develop and commercialize clinical diagnostic solutions for early detection of kidney disease and transplant management, according to a Mount Sinai release.
Part of the proceeds from this public listing will be used to complete a multicenter clinical study with the Icahn School of Medicine at Mount Sinai to validate KidneyIntelX for a 2019 commercial launch. KidneyIntelX will aim for early detection of kidney disease in patients with type 2 diabetes and those of African ancestry.
RenalytixAI will draw from its technology platform to develop the diagnostic tool, using sources which include systems containing extensive electronic health records, predictive blood-based biomarkers and other genomic information for algorithmic analysis.
“RenalytixAI can now bring the clinical and financial resources together to drive advanced diagnostic development to combat the costs and management of kidney disease,” James McCullough, CEO of RenalytixAI, said in the release.