Renalytix (RENX) Investor update summary

Strategic partnership and national distribution

• Entered a major agreement with Quest Diagnostics, enabling national reach for kidneyintelX.dkd starting in 2027.

• Quest's infrastructure provides access to 2,000 service centers and 6,000 in-office phlebotomists, covering about 50% of US physicians and hospitals.

• The partnership removes critical barriers to market, streamlining patient identification, ordering, and sample logistics.

• Anticipates substantial margin improvement and reduced capital needs due to Quest's established logistics and distribution.

Product performance and clinical impact

• kidneyintelX.dkd is FDA-authorized, Medicare-covered, and recommended by international guidelines for adults with type 2 diabetes and CKD stages 1–3b.

• High-risk patients identified by the test are 18 times more likely to experience significant kidney function decline; 0% of low-risk patients progressed to kidney failure in five years.

• Real-world use has shown improvements in blood sugar, blood pressure, urine protein, and kidney function, with 29% of patients moving to a lower risk level.

Financial update and balance sheet renewal

• Raised £10.5M in new equity through an oversubscribed placing, with strong institutional and director participation at a 44.6% premium.

• Eliminated £3.5M in long-term institutional debt by converting it fully to equity.

• Financial discipline is emphasized, with resources now focused on supporting the Quest opportunity.