AI-powered kidney disease detection test
RenalytixAI raises $29 million through initial public offering on the London Stock Exchange’s Alternative Investment Market to improve development commercialization and kidney disease diagnostic products.
Recently, RenalytixAI managed to raise $29 million in order to help improve the test for the early finding of kidney disease and a test that will help with the accurate managing and controlling of kidney transplant rejection.
RenalytixAI is working on two approaches to help in diagnosing the possible ailments or complications with the kidney of a patient. The company is focusing on an artificial intelligence-based test for detection the kidney disease in early stages that will help in the precise management of kidney transplant rejection.
In May 2018, the company made a keystone collaboration with the Icahn School of Medicine at Mount Sinai with the purpose of product development and future commercialization by the company starting in 2019. With this collaboration, Mount Sinai became a shareholder in the RenalytixAI and made an added equity investment in the recent funding of $29 million.
RenalytixAI is planning to introduce its first diagnostic product named KidneyIntelX in 2019, in association with the Icahn School of Medicine at Mount Sinai.
Developments
The technological platform of the company will pull from distinct health data sources, together with systems that contain wide-ranging electronic health records, predictive blood-based biomarkers and other genomic data for analysis using highly-performing, machine learning algorithms.
By combining these different inputs to create its products, RenalytixAI has given itself an opportunity to be a great model for the prediction of the advancement of the disease and to estimate how every individual patient might respond to a particular drug or therapy.
The company is intending to submit the KidneyIntelX product to FDA for regulatory review.
Kidney disease has been posing a problem for the healthcare industry for quite some time now. As of now, this disease is affecting more than over 850 million people all over the world. In the United States only, more than 40 million people have been categorized as having chronic kidney disease, with about 50 percent of those people are on stage IV of the disease without any knowledge regarding the severity of their decreased kidney function. Every day about 13 patients die while waiting for a kidney transplant in the United States.
James McCullough, the CEO of RenalytixAI said that with the raised funds, RenalytixAI now can move forward with advanced diagnostic development to enhance the kidney disease management and the cost. He also thanked the investors and medical collaborators on the company’s behalf for being committed to reduce the effect of this disease.
Mount Sinai Innovation Partners is also very pleased with its association with RenalytixAI. Erik Lium, PhD, executive vice president of Mount Sinai Innovation Partners, said that Mount Sinai is happy collaborating with RenalytixAI on the development of advanced prognostics and diagnostics used for renal disease as the disease represents a growing healthcare crisis worldwide, and early detection and treatment can really have a good impact on the course of this disease.
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