Artificial Intelligence
Renalytix plc successful completion of $30.0 million financing package
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.
NEW YORK and SALT LAKE CITY, April 08, 2022 (GLOBE NEWSWIRE) — Renalytix plc (NASDAQ: RNLX) (LSE: RENX) is pleased to announce the successful completion of (i) an $8.8 million equity subscription (the “Equity Fundraise“) and (ii) a subscription for convertible bonds with an aggregate principal amount of $21.2 million (the “Convertible Bonds Fundraise”) each of which were announced on 31 March 2022 (the “31 March Announcement”), raising aggregate gross proceeds of $26.8 million for the Company (the Equity Fundraise and the Convertible Bonds Fundraise together, the “Fundraise”).
The Equity Fundraise consisted of subscriptions for 2,221,794 Ordinary Shares (“New Ordinary Shares“) and 103,447 American Depositary Shares (“ADSs”) (the “New ADS“), at a price of $7.25 per ADS (the “Reference ADS Price“) or $3.625 per Ordinary Share, equivalent to approximately 276 pence per Ordinary Share.
Following the completion of the Equity Fundraise and the satisfaction of the customary conditions precedent, the Convertible Bonds Fundraise has also completed.
The net proceeds of the Fundraise will be used for general working capital purposes and to support expected company growth.
Further details of the Fundraise is set out in the 31 March Announcement.
Director and Senior Management Participation
Additionally, the directors of the Company (the “Directors“) and certain of its persons discharging managerial responsibility (“PDMRs”) as defined under Regulation (596/2014/EU) as it forms part of domestic law in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018, as amended, including certain senior managers, have conditionally subscribed for a total of 703,446 New Ordinary Shares raising an aggregated total amount of $2.55 million at the Reference ADS Price pursuant to the Equity Fundraise.
Christopher Mills, Non-Executive Chairman, and his related parties subscribed for a total of 551,724 New Ordinary Shares at $3.625 per Ordinary Share. Following completion of the purchase, Christopher Mills and his related parties are interested in 9,726,125 Ordinary Shares representing 13.0% of the current issued share capital of the Company.
Ann Berman, Non-Executive Director, subscribed for a total of 27,586 New Ordinary Shares at $3.625 per Ordinary Share. Following completion of the purchase, Ann Berman is interested in 39,586 Ordinary Shares representing 0.05% of the current issued share capital of the Company.
Timothy Scannell, Non-Executive Director, subscribed for a total of 68,964 New Ordinary Shares at $3.625 per Ordinary Share. Following completion of the purchase, Timothy Scannell is interested in 68,964 Ordinary Shares representing 0.09% of the current issued share capital of the Company.
Thomas McLain, President, subscribed for a total of 55,172 Ordinary Shares at $3.625 per Ordinary Share. Following completion of the purchase, Thomas McLain is interested in 59,150 Ordinary Shares representing 0.08% of the current issued share capital of the Company.
Stifel Nicolaus Europe Limited (“Stifel“) acted as Nominated Adviser and Sole Financial Adviser and Sole Placement Agent in connection with the Fundraise.
For further information, please contact:
| Renalytix plc | www.renalytix.com | |
| James McCullough, CEO | Via Walbrook PR | |
| Stifel (Nominated Adviser and Sole Financial Adviser and Sole Placement Agent) | Tel: 020 7710 7600 | |
| Alex Price / Nicholas Moore / Dhiren Suares | ||
| Walbrook PR Limited | Tel: 020 7933 8780 or [email protected] | |
| Paul McManus / Lianne Applegarth / Alice Woodings | Mob: 07980 541 893 / 07584 391 303 / 07407 804 654 | |
| CapComm Partners | Tel: 415-389-6400 or [email protected] | |
| Peter DeNardo | ||
About Renalytix
Renalytix (LSE: RENX) (NASDAQ: RNLX) is the global founder and leader in the new field of bioprognosis™ for kidney health. The company has engineered a new solution that enables early-stage chronic kidney disease progression risk assessment. The Company’s lead product, KidneyIntelX™, has been granted Breakthrough Designation by the U.S. Food and Drug Administration and is designed to help make significant improvements in kidney disease prognosis, transplant management, clinical care, patient stratification for drug clinical trials, and drug target discovery (visit www.kidneyintelx.com). For more information, visit www.renalytix.com.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated |
|||||
| a) | Name | 1) Harwood Capital LLP* 2) Ann Berman 3) Timothy Scannell 4) Thomas McLain |
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| 2 | Reason for the notification |
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| a) | Position/status | 1) Christopher Mills, Non-Executive Chairman, is Chief Investment Officer of Harwood 2) Non-Executive Director 3) Non-Executive Director 4) President and PDMR |
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| b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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| a) | Name | Renalytix plc | ||||
| b) | LEI | 213800NTOH3FK3WER551 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.0025 each | ||||
| Identification code | GB00BYWL4Y04 | |||||
| b) | Nature of the transaction | Purchase of New Ordinary Shares | ||||
| c) | Price(s) and volume(s) | |||||
| Price(s) | Volume(s) | |||||
| 1) $3.625 | 551,724 | |||||
| 2) $3.625 | 27,586 | |||||
| 3) $3.625 | 68,964 | |||||
| 4) $3.625 | 55,172 | |||||
| d) | Aggregated information | |||||
| – Aggregated volume | 703,446 | |||||
| – Price | $3.625 | |||||
| e) | Date of the transaction | 6 April 2022 | ||||
| f) | Place of the transaction | Off market | ||||
*Christopher Mills is partner and Chief Investment Officer of Harwood Capital LLP. Harwood Capital LLP is Investment Manager to North Atlantic Smaller Companies Investment Trust plc and investment adviser to Oryx International Growth Fund Limited. Christopher’s shareholding is made up of ordinary shares held by North Atlantic Smaller Companies Investment Trust PLC, Oryx International Growth Fund Limited and Harwood Capital LLP.
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 expected closing of the transactions discussed in this press release, the expected use of proceeds, and the expected cash runway as a result of these transaction. 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 21, 2021, 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.
UK Product Governance Requirements
Solely for the purposes of the product governance requirements contained within Chapter 3 of the FCA Handbook Product Intervention and Product Sourcebook (the “UK Product Governance Requirements“) and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the UK Product Governance Requirements) may otherwise have with respect thereto, the New Ordinary Shares and New ADSs have been subject to a product approval process, which has determined that the New Ordinary Shares and New ADSs are: (i) compatible with an end target market of: (a) retail investors, (b) investors who meet the criteria of professional clients and (c) eligible counterparties (each as defined in the FCA Handbook Conduct of Business Sourcebook); and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment“). Notwithstanding the Target Market Assessment, distributors should note that: the price of the New Ordinary Shares and New ADSs may decline and investors could lose all or part of their investment; the New Ordinary Shares and New ADSs offer no guaranteed income and no capital protection; and an investment in the New Ordinary Shares and New ADSs is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the offer. In all circumstances Stifel will only procure investors who meet the criteria of professional clients and eligible counterparties.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of the FCA Handbook Conduct of Business Sourcebook; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the New Ordinary Shares and New ADSs. Each distributor is responsible for undertaking its own target market assessment in respect of the New Ordinary Shares and New ADSs and determining appropriate distribution channels.
Artificial Intelligence
Praesidiad takes High Court action against competitor and ex-employees for alleged wrongdoing
LONDON, May 7, 2024 /PRNewswire/ — Through its subsidiary, Hesco Bastion Limited (Hesco), legal action has been commenced in the High Court in London against Dirickx Systems Limited (Dirickx) and a number of ex-employees of Hesco. The claim involves allegations of misuse of confidential information, breach of employee’s duties of good faith, infringement of patent and copyright as well as misrepresentations to customers.
The allegations of wrongdoing include the removal by the ex-employees, either alone or together, of commercially sensitive information, confidential to Hesco.
Hesco is seeking orders from High Court for appropriate injunctions to restrain further infringing activity, an enquiry into damages or alternatively an account of Dirickx’s profits as well as payment of its legal costs. A High Court trial in London is expected within 12-18 months.
Dino Koutrouki, CEO, said “Whilst Praesidiad as a business welcomes legitimate competition, it is not prepared to allow the actions of former employees, placed in a position of trust and duty of good faith, to unlawfully take advantage of the foundations of our business in order compete with us.
Hesco has a proud history as a leading innovator. For over 30 years customers have depended on us for original, high quality life safety products conceived, created and developed by us and tested independently to the highest standards. We have a duty to defend our innovation and our brand through this High Court action. Hesco intends to pursue its claims to the fullest degree, and we confidently expect the litigation process will reveal the full extent of wrongdoing of which the above is only a snapshot.”
Full details of our claim can be viewed on our website and here: Particulars_of_Infringement
Particulars_of_Claim
About Praesidiad
PRÆSIDIAD (www.praesidiad.com) owned brands Betafence and Hesco are market leaders in integrated perimeter and physical security solutions. Global Manufacturers of fencing products, defensive barriers, body armor and industrial mesh; manufacturing and supplying protection around the world.
About HESCO
Hesco (www.hesco.com) is a world leader and innovator in defence, perimeter protection and security systems, including defensive barriers, flood barriers, rapid deployment systems, safe haven bunkers and ballistic resistant body armor.
Hesco is synonymous with force protection and is recognised across its industry for its commitment to saving lives, property and the environment, whenever and wherever it is needed.
Photo – https://mma.prnewswire.com/media/2403823/HESCO.jpg
View original content:https://www.prnewswire.co.uk/news-releases/praesidiad-takes-high-court-action-against-competitor-and-ex-employees-for-alleged-wrongdoing-302134886.html
AMSTERDAM, May 7, 2024 /PRNewswire/ — In a move that underscores its innovation in smart cleaning technology, Pudu Robotics (“PUDU”), the global leader in service robotics, is set to captivate the cleaning industry with its first appearance at the prestigious Interclean Amsterdam 2024, the largest professional cleaning trade show in the world and unsurpassed in its role as an international business networking platform for the cleaning and hygiene industry.
From May 14-17, PUDU’s booth in Hall 5 05.317 at RAI Amsterdam will serve as a beacon for innovation, inviting industry professionals to explore the new cleaning frontier, where they will have the exclusive opportunity to witness cutting-edge advancements in cleaning technology.
The spotlight of this year’s showcase is undoubtedly on the official debut of the highly anticipated and newly upgraded PUDU SH1, a smart upright scrubber dryer that is set to redefine cleaning efficiency and effectiveness. Scheduled for May 14th between 14:00-15:00, an unveiling ceremony will introduce attendees to this next-generation cleaner. This event will include insightful presentations from product experts detailing key upgrades of PUDU SH1 and an overview of new solutions provided by its counterpart, PUDU CC1.
In addition to product introductions, visitors are encouraged to engage with live demonstrations taking place at the Robot Arena throughout the exhibition days.
PUDU’s Daily Demonstration Schedule at the Robot Arena
– Tuesday, May 14: Sessions at 10:45, 12:30, 14:15, and 16:00- Wednesday, May 15: Sessions at 11:15, 13:00, 14:45, and 16:30- Thursday, May 16: Sessions at 10:15, 12:00, 13:45, 15:30 and 17:15- Friday, May 17: Session at 11:30
These sessions offer a hands-on experience with PUDU CC1 while facilitating direct interaction with specialists who can provide deeper insights into their operational capabilities and benefits.
PUDU is enthusiastic about engaging with fellow innovators and stakeholders who are keen on developing future clean environments through intelligent technology. By showcasing its technological prowess and commitment to advancing smart cleaning solutions, PUDU aims to showcase new products, foster industry connections and seek potential partnerships at Interclean Amsterdam 2024.
To learn more about the latest information on cleaning products and to gain an immersive experience, visitors can register through the following link to obtain FREE tickets from PUDU:
https://register.visitcloud.com/survey/2hdir9zqg5391?actioncode=NTWO001675WTZ&partner-contact=03bjh516im8tu
About Pudu Robotics
Pudu Robotics, a global leader in the service robotics sector, is dedicated to enhancing human productivity and living standards through innovative robot technology. With a focus on R&D, manufacturing, and sales of service robots, Pudu Robotics holds nearly a thousand authorized patents worldwide, encompassing a wide range of core technologies. The company’s robots have been widely adopted in various industries, including dining, retail, hospitality, healthcare, entertainment, education, and manufacturing. To date, Pudu Robotics has successfully shipped over 70,000 units to a variety of markets, with a presence in more than 60 countries and regions worldwide.
For more information on business developments and updates, follow PUDU on Facebook, YouTube, LinkedIn, Twitter, and Instagram.
Photo – https://mma.prnewswire.com/media/2406274/Pudu_Robotics_takes_part_Interclean_Amsterdam_2024.jpgLogo – https://mma.prnewswire.com/media/2193118/Pudu_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/pudu-robotics-debuts-advanced-smart-cleaning-tech-at-interclean-amsterdam-302137623.html
Artificial Intelligence
Clarivate Introduces Epidemiology Intelligence™ for Precision Patient Population Analysis
Empowering biopharma with unified epidemiology, incidence and prevalence data alongside claims-based population insights, for precise market sizing and patient population analysis
LONDON, May 7, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, today announced the launch of Epidemiology Intelligence™. The new solution combines rich insights from epidemiology, incidence and prevalence database solutions. It includes U.S. claims-based population insights to empower biopharma companies to accurately gauge market size and target patient demographics with ease.
In today’s rapidly evolving market landscape, precise forecasting is essential for biopharmaceutical companies. Yet, traditional research methods often come with limitations that can lead to inaccurate estimations and costly consequences. Epidemiology Intelligence empowers users with unique insights to address critical questions about the drug-treatable population. The solution facilitates precise assessments, identification of niche populations and accurate predictions based on population insights.
Ravindra Sharma, VP Product Management, Clarivate, said: “The launch of Epidemiology Intelligence marks a significant milestone for Clarivate in our ongoing commitment to deliver comprehensive and actionable solutions to life sciences and healthcare companies. Clients can now access comprehensive coverage of disease epidemiology paired with expert analysis, seamlessly integrated into a unified platform. The new solution enables them to deliver safe, effective and commercially successful treatments to patients faster.”
Epidemiology Intelligence accelerates data-driven decision-making across the drug development lifecycle. Clients can benchmark market forecasts, validate investments, pinpoint growth opportunities and utilize the solution to strategically position their products for success.
To learn more about Epidemiology Intelligence, visit here.
About Epidemiology Intelligence
Epidemiology Intelligence is a new, unified Clarivate patient population offering that brings together our legacy Epidemiology and Incidence and Prevalence Database solutions, as well as claims-based population insights, on a single platform. This transformative solution offers user-friendly visualizations, easy data exports and a unique breadth and depth of patient population insights. Conduct thorough market assessment with comprehensive coverage across 1200+ diseases and procedures. Dive deep into expert disease-specific epidemiology analysis and 10 and 20-year forecasts across 220 indications and over 5000 patient populations. Leverage expanded patient segmentation and location granularity with insights sourced from Clarivate U.S. Real-World Data.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Catherine DanielDirector External Communications, Life Sciences & [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/clarivate-introduces-epidemiology-intelligence-for-precision-patient-population-analysis-302136896.html
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