Exercise of Option for Exclusive License to Kidney Transplant Diagnostic Technology
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Renalytix AI plc (AIM: RENX), a developer of artificial intelligence (“AI”) enabled clinical diagnostics solutions for kidney disease, announces the exercise of its option, as described in the Company’s admission document, for the exclusive license from the Icahn School of Medicine at Mount Sinai (“ISMMS”) of a portfolio of diagnostics (referred to as FractalDX) focused on kidney transplant.
The portfolio consists of data, development and intellectual property across different diagnostic indications including identification of post-transplant / sub-clinical acute rejection, prediction of fibrosis / graft survival and pre-transplant / immune stratification. The Company believes the ISMMS kidney transplant product portfolio has significant potential to address critical unmet needs in the kidney transplant field such as transplant donor / recipient status, and determining specific immunosuppression therapy levels for patients in the United States and globally.
As previously indicated, the terms of the exercise include a $1.0 million upfront exclusive license payment and reimbursement of intellectual property legal and other fees of approximately $0.3 million to ISMMS. The license agreement is subject to certain milestone, royalty and maintenance payments as the Company progresses through the process of commercialisation and into product sales. The Company will undertake further evaluation of the data and the optimal product commercialisation strategy for the FractalDX portfolio, and will comment further as and when appropriate.
|Renalytix AI plc||www.renalytixai.com|
|James McCullough, CEO||Via Walbrook PR or
Tel: +1 646 397 3970
|N+1 Singer (Nominated Adviser & Broker)||Tel: 020 7496 3000|
|Aubrey Powell / James White / George Tzimas (Corporate Finance)|
|Tom Salvesen / Mia Gardner (Corporate Broking)|
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