23rd Oct 2018 14:45
LONDON (Alliance News) - Renalytix AI PLC, a spin-out of EKF Diagnostics Holdings PLC, said Tuesday it intends to submit two artificial intelligence products for review by the US Food & Drug Administration.
Renalytix, which develops artificial intelligence tool for managing and diagnosing kidney disease, will submit KidneyIntelX and KidneyIntelX APOL1 for review.
The medical technology company is collaborating with medical institutions in order to secure the development and commercial launch of both artificial intelligence products.
The company will list on AIM next Friday, and is expected to raise between GBP21 million and GBP25 million via a placing and subscription. GBP21 million of this has already been secured. Renalytix's estimated market capital on admission is to be between GBP67.5 million and GBP71.0 million.
Shares in EKF Diagnostics were down 0.7% at 30.53 pence on Tuesday.
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