AGM Statement
Renalytix plc provided an update ahead of its Annual General Meeting, highlighting progress in increasing testing volumes for its FDA-approved and Medicare-reimbursed kidneyintelX.dkd test, with initial revenues now recorded in Arizona. The company is pursuing a growth strategy focused on strategic partnerships, including a definitive agreement with Tempus AI Inc, to expand patient and clinician access across the US, and is making progress with Electronic Health Record integrations. Renalytix is also leveraging data analytics to target high-opportunity accounts and is transitioning to a new laboratory facility to increase testing capacity and achieve operating cost savings over the next five years, positioning the company for sustainable revenue growth.
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LONDON and NEW YORK, 9 December 2025 - Renalytix plc (LSE: RENX) (OTCQB: RNLXY), a precision medicine diagnostics company, with kidneyintelX.dkd, the only FDA-approved and Medicare reimbursed prognostic test to support early-stage risk assessment in chronic kidney disease, provides an update to shareholders ahead of its Annual General Meeting ("AGM") today at 6 Stratton Street Mayfair, London W1J 8LD at 10.00 (GMT).
AGM Statement from Julian Baines, Executive Chairman
I am very pleased to provide a short update for shareholders ahead of our AGM today as we continue to work towards wider adoption of the KidneyintelX.dkd test, the first FDA-approved advanced prognostic blood test with Medicare reimbursement coverage, to identify those at-risk of progressive kidney disease and allowing early interventions to improve outcomes and reduce high costs associated with chronic disease management.
We have made good progress in increasing testing volumes across the four target states where we have direct presence: Florida, Texas, New York, and more recently Arizona. In the new financial year we recorded our first revenues from Arizona, including tests ordered by one of the largest nephrology practices in the United States.
Whilst this is encouraging, our main growth strategy is to deliver significant testing volume ramp-up through business development initiatives with important strategic partnerships that can target adoption by larger health centres across the whole of the US. To this end, in mid-September we were delighted to secure a definitive agreement with NASDAQ listed Tempus AI Inc ("Tempus"), which has an established network of healthcare institutions already utilising its precision medicine solutions. We believe this collaboration will allow us to significantly expand patient and clinician access to kidneyintelX and we have been encouraged by our first few months of engagement. Engaging with large healthcare systems presents inherent challenges, particularly due to lengthy implementation and approval processes that are often outside of our direct control, but we are satisfied that with partnerships such as Tempus and MVP Health Care, this strategy will deliver long-term value for shareholders.
We have also narrowed an extensive list of potential partners for our next Electronic Health Record (EHR) integration and have made significant progress with several priority targets. These targets are large healthcare systems, which we expect to generate meaningful testing volumes and become key customers for years to come.
In parallel, we are increasingly utilising data analytics to identify physicians with a high population of eligible patients, as well as those where a higher prevalence of eligible patients is expected. This capability enables us to provide valuable and actionable insights to clinicians and practices, complementing the clinical value of our KidneyIntelX.dkd test, while ensuring our limited commercial resources are directed toward the highest-opportunity accounts.
Finally, we have commenced the transition to a new laboratory facility. This move is expected to significantly increase our testing capacity and deliver substantial operating cost savings over the next five years, supporting both growth and operational efficiency.
Looking ahead, the Company is focused on converting ongoing business development activity into contracted relationships, expanded EHR integrations, and growing testing volumes. While the timing of commercial outcomes-particularly with large healthcare systems-remains difficult to predict, the Board and management are confident that the foundations being put in place today position the Company well for sustainable revenue growth, increased operating leverage, and long-term value creation for shareholders.
The Company will issue a trading update for the six months to 31 December 2025 by the end of January 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.