Literally billions is spent each year treating desperately sick people with acute kidney disease, who are awaiting transplants and often tied to dialysis machines at an average cost of $90k a year. Worse still, rejection rates of donor parts are typically between 35% and 50%, caused primarily from adverse responses by patient immune systems.

Enter Verici Dx (VRCI), which has developed and is now commercialising its next generation of kidney transplant RNA signature based and AI-enhanced diagnostics. These not only materially enhance treatment regimes and reduce healthcare costs, but also improve acceptance rates and extend organ longevity.

Its first product, Tutivia (a post graft blood test) was launched in January 2023, whilst its second, the Clarava pre-graft prognostic, should likewise achieve first sales later this year.

Today VericiDx reached another major milestone was reached, announcing that its US clinical laboratory located in Franklin, Tennessee was now fully accredited to process blood samples across 49 states. That comes after receiving authorisation from an additional 4 states, including California which handles more than 10% of the country’s kidney transplant procedures. The final state is New York which has its own compliance requirements.

CEO Sara Barrington, commented: "This is another important step in our strategy, expanding our commercial reach and making it easier for clinicians to order our tests helping to drive the adoption of both Tutivia and Clarava”.

With the efficacy of the platform proven, these two tests should hopefully open the door to similar scientific break-throughs in relation to other products. That perhaps starts with Protega, a treatment which aims to predict the risk of fibrosis and long-term graft failure – here first revenues are slated for 2025.

Broker Singer Capital Markets is forecasting FY23 turnover of $0.9m climbing to $6.1m in 2024, and have a BUY rating. Net cash is anticipated to close December 2023 at $0.6m, providing sufficient funding until mid-2024.