Renalytix AI PLC, which was spun out of EKF Diagnostics Holdings plc, said it had secured a funding commitment of at least £21 million via a placing and subscription of shares.
Renalytix AI has also started a restricted offering of 2.9 million shares at £1.21 each to raise £3.5 million in gross proceeds. Only EKF shareholders in the U.K. will be able to buy the stocks.
The restricted offering will close Oct. 26.
EKF specializes in developing tests for use in anemia and diabetes diagnosis and management.
Renalytix AI focuses on the development of artificial intelligence enabled clinical decision support solutions for kidney disease.