RenalytixAI (an EKF Diagnostics subsidiary) is raising funds to develop AI for tracking kidney disease

RenalytixAI, an EKF Diagnostics (EKF) subsidiary company, is raising $25m (£17.6m) to float one of its divisions in America and then use the funds to develop artificial intelligence for tracking kidney disease.

Cardiff-based EKF Diagnostics, which makes medical devices to monitor blood glucose levels and hemoglobin analyzers, hopes the new company (RenalytixAI) can help secure deals with big hospital groups across the US.

RenaltyxAI will mine data from medical records and biobanks to help doctors predict which patients with type 1 and type 2 diabetes will develop chronic kidney disease, enabling physicians to intervene early. If untreated, diabetic kidney disease can progress to end-stage renal disease, so early detection can drastically improve patient outcomes.

Julian Baines, chief executive of EKF, will become chairman of the new company and will be looking to inject cash into the company within the next six months. “With chronic kidney disease, 90% of the time, people find out too late,” he said. “With our technology, patients will be tested and can monitor their progress using their mobile phones.”