Renalytix AI PLC Exercise of Option for Exclusive License (8706L)
January 02 2019 - 1:00AM
UK Regulatory
TIDMRENX
RNS Number : 8706L
Renalytix AI PLC
02 January 2019
Renalytix AI PLC
("RenalytixAI" or the "Company")
Exercise of Option for Exclusive License to Kidney Transplant
Diagnostic Technology
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.
Enquiries:
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)
----------------------
Walbrook PR Limited Tel: 020 7933 8780 or renalytix@walbrookpr.com
-----------------------------------------------------
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / 07584
391 303
---------------------------------
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