Renalytix AI exercises option to license FractalDX portfolio

The AIM-traded firm said the portfolio consisted of data, development and intellectual property across different diagnostic indications including identification of post-transplant and sub-clinical acute rejection, prediction of fibrosis and graft survival, and pre-transplant and immune stratification.

Its board said it believed the ISMMS kidney transplant product portfolio had “significant potential” to address critical unmet needs in the kidney transplant field, such as transplant donor and 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 $1m upfront exclusive license payment, and reimbursement of intellectual property legal and other fees of approximately $0.3m to ISMMS,” the Renalytix board said in its statement.

“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.”