BDB Pitmans advises Renalytix AI on £14 million placing

BDB Pitmans is proud to have advised clinical diagnostics company, Renalytix AI Plc (Renalytix), as it raised £14 million through a secondary fundraise. The placing was in high demand from both existing and new shareholders, with Renalytix placing 5.6 million shares at a price of 250 pence each.

Renalytix is a developer of artificial intelligence enabled clinical decision support solutions for kidney disease, one of the most common and costly chronic medical conditions globally. Renalytix solutions are being designed to make significant improvements in kidney disease risk assessment, clinical care, patient stratification for drug clinical trials, and drug target discovery.

The BDB Pitmans team advising on the transaction was led by partner Nick McCarthy, who was supported by legal director Andrew McGlashan and solicitor Caroline Carter. Stifel Nicolaus Europe Limited and N+1 Singer acted as joint bookrunners in relation to the placing.

Nick McCarthy, partner at BDB Pitmans comments:

‘We are delighted to have advised this new client on a very successful fundraise.’