Innovation is the life blood of healthcare companies.. Among those innovators is Verici Dx (VRCI), which is commercialising its proprietary platform of AI-enabled and RNA sequenced, immuno-diagnostics and data services for kidney transplants.

Its first two flagship tests have both passed extensive real-world validation studies with flying colours, with higher PPV scores than rivals. Tutivia (a post transplant diagnostic) has recently been launched and management expects revenues to ramp materially in the second half of 2023.

Meanwhile Clarava, a pre-operative test, is undergoing an additional 6 month trial in order to further enrich the clinical data, and broaden the addressable market by expanding usage. Initial sales are slated for Q4 2023 or Q1 2024.

Today came news that Verici had been granted two new US patents, which provide further IP protection for Tutivia until 2036 and until 2039  for Clarava. These cover broad molecular methods for predicting and diagnosing subclinical and clinical acute rejection for both pre- and post- kidney transplant via algorithmic analysis of gene sets.

The Tutivia patents are already in force in Europe, China & Australia a,d Verici plans to continue to file for similar IPR protection.

CEO Sara Barrington commented: “Clarava & Tutivia address a significant unmet need and seek to improve outcomes for kidney transplant patients, by providing early, actionable information for clinicians to inform treatment plans. These significant new patents bolster our intellectual property portfolio and protect our proprietary methods of predicting and diagnosing sub-clinical and clinical acute kidney rejection."

Broker Singer Capital Markets is forecasting FY23 turnover of $0.9m, climbing to $6.1m in 2024, with a 79p risk-adjusted target price, suggesting lots of potential upside from the current 9p. Similarly, net cash is estimated to have closed December 2022 at $9.7m, providing a sufficient runway until early 2024.