"Mount Sinai Technology Spinout RenalytixAI Completes IPO - Raising $29 Million to Combat Kidney Disease"
Mount Sinai Health System announced 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. "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 and dean for clinical integration and population health at the Icahn School of Medicine at Mount Sinai, and board member and chair of the scientific advisory board of RenalytixAI. "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."
— Barbara Murphy, MD, Chair, Samuel Bronfman Department of Medicine, Dean, Clinical Integration and Population Health, Icahn School of Medicine at Mount Sinai
— Erik Lium, MD, Executive Vice President, Mount Sinai Innovation Partners
International Business Times