Renalytix AI Secures $29 Million in New Funding to Advance AI-Powered Kidney Disease Diagnostics

VCBeat (WeChat: vcbeat) has learned that on November 15, 2018 (UK local time), Renalytix AI (LSE ticker: RENX), a developer of artificial intelligence solutions for patients with kidney disease, announced it had secured $29 million in its latest round of financing. Details of the funding were not disclosed. It is understood that the company began public trading on the AIM market of the London Stock Exchange after completing its IPO on November 6, 2018. Renalytix AI plans to launch its first kidney disease diagnostic product, KidneyIntelX, in collaboration with the Icahn School of Medicine at Mount Sinai in 2019.

Renalytix AI plans to use these funds for the development and commercialization of two product categories, enabling early detection of kidney disease and accurate management of rejection in kidney transplants.

Image source: StartupWorld website

RenalytixAI is a provider that develops innovative clinical diagnostic solutions for kidney disease using artificial intelligence technology. RenalytixAI’s solutions are designed to improve kidney disease risk assessment, clinical care, patient stratification in drug clinical trials, and drug target discovery. Its technology platform acquires data from various sources, including extensive electronic health records (EHR), predictive blood biomarkers, and other genomic information systems, for analysis via high-performance, learning-based computer algorithms (machine learning). RenalytixAI intends to build a deep, unique kidney disease-related database for AI applications to enhance predictive capability and clinical utility.

Chronic Kidney Disease (CKD) is now recognized as an epidemic, representing the most common and costliest chronic disease to treat globally. According to estimates by the International Society of Nephrology, approximately 850 million people worldwide are currently affected by this condition, a figure that is twice the global diabetic population (420 million) and twenty times the number of cancer patients. Data published by the Society indicates that the prevalence of CKD is 10.4% in men and 11.8% in women worldwide. Often referred to as a “silent disease,” CKD typically presents with few or no symptoms until kidney function is completely lost. Consequently, CKD is associated with significant morbidity, mortality, and high healthcare costs. Studies suggest that CKD poses a relatively greater threat to individuals with diabetes, hypertension, heart disease, and obesity.

In May 2018, RenalytixAI entered into a foundational collaboration with the Icahn School of Medicine at Mount Sinai to jointly develop products, with commercialization planned to commence in 2019.

Headquartered in Bonvilston, Vale of Glamorgan, United Kingdom, RenalytixAI is a developer specializing in artificial intelligence solutions for patients with kidney disease. RenalytixAI’s solutions are designed to improve risk assessment for kidney disease, clinical care, patient stratification in drug clinical trials, and drug target discovery. The company was listed on the London Stock Exchange on November 6, 2018, under the ticker symbol LON: RENX.