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Renalytix AI is listed on the London Stock Exchange so there’s plenty of information available if you want to see it (LON: RENX). Market cap of GBP191m (A$377m) is an interesting comparison to where PIQ is valued...

Where Renalytix may have an advantage is it’s relationship with the Icahn School of Medicine. Not just a collaboration, but a financial investment with a GBP14m investment in July 2019. Looks like they’re sitting on 9m cash at Dec-19. Certainty helpful for marketing efforts...

Deal #2: PIPE, $17.58M, Completed; 23-Jul-2019

Deal Types

PIPE

Deal Amount

$17.58M

Deal Status

Completed

Deal Date

23-Jul-2019

% Acquired

10.40%

Financing Status

Corporation

Financing Source

Corporate

Raised to Date

$40.93M **

Total Invested Equity

$17.58M

Total Invested Capital

$17.58M

Post Valuation

$169.04M E

CEO/Lead MGT

• James McCullough

  
  

  
  

Site

Cardiff, United Kingdom

Business Status

Generating Revenue

Deal Synopsis

The company (LON:RENX) received GBP 14 million of development capital from Icahn School of Medicine at Mount Sinai and other investors on July 23, 2019 through a private placement. The net proceeds of the Placing will be used towards the regulatory and clinical development to the company's lead AI-enabled kidney diagnostic product and towards working capital purposes to support the company's growth.

• ‡Not necessarily a summation of individual debt figures
• **Does not include grant funding
• EEstimated