Renalytix PLC Expansion of insurance coverage for KidneyIntelX (1093A)
22 May 2023 - 4:00PM
UK Regulatory
TIDMRENX
RNS Number : 1093A
Renalytix PLC
22 May 2023
Renalytix plc
("Renalytix" or the "Company")
Expansion of insurance coverage for KidneyIntelX(TM)
LONDON and SALT LAKE CITY, May 22, 2023 - Renalytix (NASDAQ:
RNLX) (LSE: RENX) reports the expansion of insurance coverage for
KidneyIntelX with CareFirst BlueCross BlueShield, the largest
health care plan in the Mid-Atlantic region of the United States.
In total, CareFirst BlueCross BlueShield serves 3.4 million members
in Maryland, DC, and Northern Virginia, as well as the Federal
Employee Program (FEP), also known as the Blue Cross and Blue
Shield Service Benefit Plan which is part of the Federal Employees
Health Benefits (FEHB) Program administered by CareFirst. This
agreement complements coverage already secured with Wellmark Blue
Cross Blue Shield in Iowa and South Dakota (estimated 2.1 million
covered lives) and BlueCross BlueShield of Illinois (estimated 8.1
million covered lives).
For further information, please contact:
Renalytix plc www.renalytix.com
James McCullough, CEO Via Walbrook PR
Stifel (Nominated Adviser, Joint Broker) Tel: 020 7710 7600
Alex Price / Nicholas Moore / Nick Harland / Samira Essebiyea
Investec Bank plc (Joint Broker) Tel: 020 7597 4000
Gary Clarence / Shalin Bhamra
Walbrook PR Limited Tel: 020 7933 8780 or renalytix@walbrookpr.com
Paul McManus / Lianne Applegarth Mob: 07980 541 893 / 07584 391 303
CapComm Partners
Peter DeNardo Tel: 415-389-6400 or investors@renalytix.com
About Kidney Disease
Kidney disease is a public health epidemic affecting over 850
million people globally.(1) The Centers for Disease Control and
Prevention estimates that 15% of U.S. adults, or over 37 million
people(2) , have chronic kidney disease (CKD). Nearly 95% of people
with CKD are in early stages 1-3(3) . Despite its magnitude,
early-stage (1-3) CKD is underdiagnosed and undertreated, largely
because it's asymptomatic at this time in the disease. As many as 9
in 10 adults with CKD, and 2 in 5 adults with severe CKD do not
know they have the condition.(3)
About Renalytix
Renalytix (NASDAQ: RNLX) (LSE: RENX) is an in-vitro diagnostics
and laboratory services company that is the global founder and
leader in the new field of bioprognosis(TM) for kidney health. The
leadership team, with a combined 200+ years of healthcare and
in-vitro diagnostic experience, has designed its KidneyIntelX
laboratory developed test to enable risk assessment for rapid
progressive decline in kidney function in adult patients with T2D
and early CKD (stages 1-3). We believe that by understanding how
disease will progress, patients and providers can take action early
to improve outcomes and reduce overall health system costs. For
more information, visit www.renalytix.com.
About KidneyIntelX(TM)
KidneyIntelX(TM) is a laboratory developed test demonstrated to
be a reliable, bioprognostic(TM) methodology that yields a
simple-to-understand, custom risk score, enabling prediction of
which adult patients with T2D and early CKD (stages 1-3) are at
low, intermediate or high risk for rapid progressive decline in
kidney function. By combining information from KidneyIntelX with
newer cardio- and reno-protective therapies, doctors will have more
information in determining which patients are at higher versus
lower risk for rapid disease progression and may be able to more
appropriately target resources and guideline-recommended treatments
to advance kidney health. KidneyIntelX is supported by a growing
body of clinical, utility and health economic studies (including a
validation study of two large cohorts) and has a demonstrated a 72%
improvement in predicting those patients who are at high risk for
rapid progressive decline in kidney function versus the current
standard of care (eGFR and UACR). KidneyIntelX has received
Breakthrough Device Designation from the U.S. Food and Drug
Administration and Renalytix has submitted for De Novo marketing
authorization. To learn more about KidneyIntelX and review the
evidence, visit www.kidneyintelx.com.
Sources
1https://www.theisn.org/blog/2020/11/27/more-than-850-million-worldwide-have-some-form-of-kidney-disease-help-raise-awareness/
2
https://www.cdc.gov/kidneydisease/publications-resources/ckd-national-facts.html
3 https://www.cdc.gov/kidneydisease/basics.html
Forward Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended. Examples of these forward-looking statements
include statements concerning: the potential benefits of
KidneyIntelX, the potential for KidneyIntelX to receive regulatory
approval from the FDA, the commercial prospects of KidneyIntelX, if
approved, including whether and to what extent KidneyIntelX will be
successfully adopted by physicians and distributed and marketed,
our expectations regarding the ability of KidneyIntelX to curtail
costs of chronic and end-stage kidney disease, optimize care
delivery, mitigate patient overload in nephrology, address systemic
inequalities and improve patient outcomes. Words such as
"anticipates," "believes," "estimates," "expects," "intends,"
"plans," "seeks," and similar expressions are intended to identify
forward-looking statements. We may not actually achieve the plans
and objectives disclosed in the forward-looking statements, and you
should not place undue reliance on our forward-looking statements.
Any forward-looking statements are based on management's current
views and assumptions and involve risks and uncertainties that
could cause actual results, performance, or events to differ
materially from those expressed or implied in such statements.
These risks and uncertainties include, among others: that
KidneyIntelX is based on novel artificial intelligence technologies
that are rapidly evolving and potential acceptance, utility and
clinical practice remains uncertain; we have only recently
commercially launched KidneyIntelX; and risks relating to the
impact on our business of the COVID-19 pandemic or similar public
health crises. These and other risks are described more fully in
our filings with the Securities and Exchange Commission (SEC),
including the "Risk Factors" section of our annual report on Form
20-F filed with the SEC on October 31, 2022, and other filings we
make with the SEC from time to time. All information in this press
release is as of the date of the release, and we undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise, except as required by law.
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