Announcements

RenalytixAI Raises $29 Million to Commercialize AI-Enabled Clinical Diagnostic Solutions for Kidney Disease

Mount Sinai Health System announced today that RenalytixAI PLC, a Mount Sinai exclusive licensee and development collaborator, had completed a public listing that valued the company at $85 million on the London Stock Exchange’s Alternative Investment Market.  The public listing raised $29 million from a syndicate of health care institutional and industry investors, with participation from Mount Sinai.

RenalytixAI was formed to validate and commercialize artificial intelligence (AI)-enabled clinical diagnostic solutions for early detection of kidney disease and transplant management. The proceeds of this stock sale will be used in part to complete a multi-center clinical study anchored by Mount Sinai to validate KidneyIntelXTM for commercial launch in 2019.  KidneyIntelX will focus on the early detection of kidney disease in patients who have type 2 diabetes or who are of African ancestry, two of the major population segments at risk for kidney disease throughout the United States.

Kidney disease is a public health crisis affecting an estimated 12 percent (or 120 million) of the U.S. and European populations, 90 percent of those affected are unaware they are at risk. The collaboration will leverage Mount Sinai assets, including world-renowned clinical expertise in nephrology, and access to the de-identified clinical data of 46,000 patient records in Mount Sinai’s BioMeTM BioBank repository and more than 3 million electronic health records in the Health System’s data warehouse.

In May 2018, Mount Sinai Health System and RenalytixAI finalized an initial collaboration for product development and intended translation to the clinic beginning in 2019.

RenalytixAI plans to develop a series of AI-enabled applications by mining a deep, unique pool of kidney disease-related data from diverse sources, including de-identified electronic health records, predictive blood-based biomarkers, and genomic information.

“RenalytixAI can now bring the clinical and financial resources together to drive advanced diagnostic development to combat the costs and management of kidney disease,” said James McCullough, Chief Executive Officer of RenalytixAI.  “We are grateful to our investors and medical collaborators for this opportunity.”

“We are beginning with two products to determine who is at high risk for progression to kidney disease and dialysis, and what type of risk will be experienced by kidney transplant patients,” said Barbara Murphy, MD, Chair of the Samuel Bronfman Department of Medicine, Dean for Clinical Integration and Population Health at the Icahn School of Medicine at Mount Sinai, Board Member and Chair of the Scientific Advisory Board of RenalytixAI.  “Kidney disease represents a major management issue from a population health perspective at Mount Sinai and other major medical centers, and these products will help us take on that challenge.”

“We’re thrilled to partner with RenalytixAI to develop much-needed prognostics and diagnostics that address the critical, unmet need of patients with high-risk of kidney disease,” said Erik Lium, PhD, Executive Vice President of Mount Sinai Innovation Partners. “Mount Sinai’s strengths in research, coupled with our robust clinical setting and valuable market perspective from RenalytixAI, will advance these solutions to the clinic.”

 

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