Last checked at 27 Mar 2020 07:00
Renalytix AI plc
("RenalytixAI", the "Company")
Presentation of KidneyIntelX™ Health Economics Data
Renalytix AI plc (LSE: RENX), the AIM-traded developer of clinical grade artificial intelligence in vitro diagnostics for kidney disease, announces that further to RNS Reach 2937H on 24 March 2020, Boston Healthcare Associates has presented data on KidneyIntelX™, the Company's AI-enabled in vitro diagnostic test for kidney disease, and the clinical and health economic benefit from deploying the test in large health systems in the United States during National Kidney Foundation's Spring Clinical Meeting.
A poster summarizing the data presented by Boston Healthcare is now available through the conference website and at https://renalytixai.com/investors/utility-and-impact-of-kidneyintelx.
It is estimated that there are 12 million individuals with diabetic kidney disease (DKD) in the United States alone. The economic impact model estimates that KidneyIntelX™ testing of 100,000 individuals with DKD, with the assumption of a 20% relative decrease in DKD progression for the 16% of DKD individuals scored as "high-risk" by KidneyIntelX™ patients, could deliver cumulative savings of more $1 billion over a five-year period. The presentation was delivered by Thomas Goss, PharmD, Senior Vice President, Boston Healthcare Associates.
During the presentation, Dr. Goss described the population health benefits that can be realized with system-wide adoption of KidneyIntelX™. These include delaying progression to more advanced stages of DKD, reducing hospitalizations, and avoiding unplanned emergency room crashes onto dialysis, and delaying or preventing end stage kidney disease, and related dialysis and kidney transplant procedures. These outcomes will not only lead to a significant improvement in quality of life for diabetic kidney disease patients, they also can drive significant cost benefit for health providers and insurers. The model developed by Boston Healthcare demonstrates that a health insurer will realize net savings in less than two years, assuming a one-time use of the test. Based on 100,000 patients tested, annual savings increase each year and peak at $685 million in year five. This combination of significantly improved patient outcomes, optimal utilization of healthcare resources, and savings for health insurers is expected to lead to an increase in coverage determinations for KidneyIntelX™ from private insurers in the United States in both 2020 and 2021.
NKF's Spring Clinical Meeting gathers more than 3,000 nephrology healthcare professionals from across the United States to learn about the newest developments related to all aspects of nephrology practice. Due to the coronavirus and coronavirus disease (COVID-19) outbreak in the United States the meeting is being held as a live virtual event in 2020. Sessions can be accessed through the conference website. For information about the NKF's virtual conference event, visit https://www.kidney.org/spring-clinical.
For further information, please contact:
Renalytix AI plc | www.renalytixai.com | |||
James McCullough, CEO | Via Walbrook PR | |||
Stifel (Nominated Adviser & Joint Broker) | Tel: 020 7710 7600 | |||
Alex Price / Jonathan Senior / Ben Maddison | ||||
N+1 Singer (Joint Broker) | Tel: 020 7496 3000 | |||
Aubrey Powell / George Tzimas (Corporate Finance) | ||||
Tom Salvesen (Corporate Broking) | ||||
Walbrook PR Limited | Tel: 020 7933 8780 or renalytix@walbrookpr.com
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Paul McManus / Lianne Cawthorne | Mob: 07980 541 893 / 07584 391 303 | |||
About Kidney Disease
Kidney disease is now recognised as a public health epidemic affecting over 850 million people globally. The Centers for Disease Control and Prevention (CDC) estimates that 15% of US adults, or 37 million people, currently have chronic kidney disease (CKD). Further, the CDC reports that 9 out of 10 adults with CKD do not know they have it and 1 out of 2 people with very low kidney function who are not on dialysis do not know they have CKD*. Kidney disease is referred to as a "silent killer" because it often has no symptoms and can go undetected until a very advanced stage. Each year kidney disease kills more people than breast and prostate cancer. Every day, 13 patients in the United States die while waiting for a kidney transplant.
* https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html
About RenalytixAI
RenalytixAI is a developer of clinical grade, artificial intelligence-enabled in vitro diagnostic solutions for kidney disease, one of the most common and costly chronic medical conditions globally. The Company's products are being designed to make significant improvements in kidney disease diagnosis, transplant management, clinical care, and patient stratification for drug clinical trials. For more information, visit renalytixai.com.