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The London Stock Exchange recently produced a great case study (below) on how an AIM IPO helped one of Singer Capital Markets’s Healthcare & Life Sciences clients, RenalytixAI plc (AIM: RENX), secure a funding platform and accelerate its plans.

As Chief Executive Officer, James McCullough, puts it:“Our UK investors have developed a sophisticated understanding of diagnostic reimbursement, ironically better than many US investors.”

Having incubated out of EKF Diagnostics Holdings plc (AIM: EKF), RenalytixAI is building KidneyIntelX as a platform solution that uses predictive blood-based biomarkers and can analyse continuously further anonymised information from electronic health records, and other genomic data, and integrate with the care management pathways of healthcare systems such as partner and investor, Mount Sinai. “The power of machine learning allows us to continuously improve performance and begin to look at the subtleties of the disease through the course of treatment and changes in patient behaviour,” says McCullough.

Commenting on why AIM was “very attractive”, McCullough says: “It provided us with a distributed institutional shareholder base, the ability to raise enough capital to drive a world-class product development effort, and put public market governance and reporting discipline in place – all with a clean, flat-capital structure of common stock.”

Other factors in AIM’s favour included the lower costs of admission when compared to the US markets, and the different legal liability framework.

Singer Capital Markets lead RenalytixAI’s AIM IPO

Singer Capital Markets were incredibly proud to have led RenalytixAI’s London AIM IPO in November 2018, acting as the Company’s Nominated Adviser and Broker, raising £22.25 million on admission. Alongside this, Singer Capital Markets also acted as the Company’s Joint Broker for their follow-on raise in July 2019, after its plans accelerated.

KidneyIntelX is at the forefront of healthcare innovation, combining proven blood biomarkers with patient health record data to predict the risk of kidney disease (KD) more accurately. The Company has made great strides since inception in March 2018 and is commercialising well, supported by:

In October 2019, RenalytixAI and EKF saw the spin-out IPO chosen by an independent panel as “Transaction of the Year” at the Annual AIM Awards Dinner.

Singer Capital Markets is currently acting as Nominated Adviser and Broker to EKF Diagnostics and Joint Broker to RenalytixAI.

To read the full London Stock Exchange Case Study Report, please click here. For more information on RenalytixAI, please click here.

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