Confirmation of Appointment of Timothy Scannell to Renalytix Board of Directors

Rhea-AI Summary

Renalytix Plc (NASDAQ: RNLX) has appointed Timothy Scannell as an independent Non-Executive Director, enhancing its board with over 30 years of healthcare innovation experience. Previously President and COO of Stryker, Scannell currently leads Insulet Corporation and serves on several boards, including Novocure and Collagen Matrix. His expertise is expected to contribute significantly to Renalytix’s strategic direction, particularly in advancing its innovative KidneyIntelX product aimed at early-stage chronic kidney disease risk assessment.

Positive

• Timothy Scannell's appointment brings over 30 years of healthcare technology experience.
• His leadership role at Stryker suggests strong industry insights beneficial for Renalytix.
• Scannell's existing board positions may facilitate strategic partnerships.

Negative

• Potential concerns regarding board continuity and the impact of new leadership dynamics.

NEW YORK and SALT LAKE CITY, March 30, 2022 (GLOBE NEWSWIRE) -- Renalytix Plc (NASDAQ: RNLX) (LSE: RENX) today announced that, following the Company’s announcement on February 22, 2022, Timothy Scannell has been appointed to the Board as an independent Non-Executive Director of Renalytix.  

As an accomplished leader in healthcare innovation, Mr. Scannell brings more than 30 years of experience in medical technology to the Renalytix Board, and previously served as President and C.O.O. of Stryker. Mr. Scannell currently serves as Chair of Insulet Corporation’s board of directors and serves on the board of directors for Novocure and Collagen Matrix. He holds Bachelor of Business Administration and Master of Business Administration degrees from the University of Notre Dame.

For further information, please contact:

Renalytix plc	www.renalytix.com
James McCullough, CEO	Via Walbrook PR
Stifel (Nominated Adviser, Joint Broker)	Tel: 020 7710 7600
Alex Price / Nicholas Moore
Investec Bank plc (Joint Broker)	Tel: 020 7597 4000
Gary Clarence / Daniel Adams
Walbrook PR Limited	Tel: 020 7933 8780 or renalytix@walbrookpr.com
Paul McManus / Lianne Applegarth / Alice Woodings	Mob: 07980 541 893 / 07584 391 303 / 07407 804 654
CapComm Partners	Tel: 415-389-6400 or investors@renalytix.com
Peter DeNardo

AIM Rule Regulatory Disclosures
In accordance with Schedule 2(g) of the AIM Rules, Timothy (Tim) John Scannell (aged 57) holds or has held in the past 5 years the following directorships and partnerships:

Current	Past 5 years
Insulet Corporation	Berchtold Corporation
Novocure Inc.	CerSys Inc.
Collagen Matrix, Inc.	Charger Holding Corp.
Gilmartin Fund I L.P.	Concentric Medical, Inc.
	Entellus Intermediate Sub, Inc.
	Everest Biomedical Instruments Company
	Explorer Merger Sub Corp.
	Fulcrom, Corp.
	HeartSine Technologies, LLC
	Hit Acquisition Corporation
	Hygia Health Services, Inc.
	Image Guided Technologies, Inc.
	Infinity MSD Corp.
	Infinity MSF Corp.
	Ivy Sports Medicine, LLC
	Loon Intermediateco, LLC
	Medicycle, Inc.
	MicroDexterity Systems, Inc.
	Novadaq Corp.
	Novadaq Technologies ULC
	Paramed Corporation
	Physio-Control International, Inc.
	Physio-Control Manufacturing, Inc.
	Physio-Control, Inc.
	Physio-Control, Investments LLC
	Pivot Medical, Inc.
	ScanHealth, Inc.
	SpineCore, Inc.
	Spirox, Inc.
	SSI Divestiture, Inc.
	Stryker Canada Operations ULC
	Stryker Communications, Inc.
	Stryker European Operations Limited
	Stryker European Operations Limited - Dutch Branch Office
	Stryker Sage, Inc.
	Stryker Sales, LLC
	Stryker Sustainability Solutions, Inc.

Save for the disclosures above, there are no further disclosures to be made in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules.

About Kidney Disease

Kidney disease is now recognized as a public health epidemic affecting over 850 million people globally. The Centers for Disease Control and Prevention (CDC) estimates that 15% of US adults, or 37 million people, currently have chronic kidney disease (CKD). Further, the CDC reports that 9 out of 10 adults with CKD do not know they have it and one out of two people with very low kidney function who are not on dialysis do not know they have CKD.¹ Kidney disease is referred to as a "silent killer" because it often has no symptoms and can go undetected until a very advanced stage. Each year kidney disease kills more people than breast and prostate cancer.² Every day, 13 patients in the United States die while waiting for a kidney transplant.³

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.

About KidneyIntelX

KidneyIntelX, is a first-of-kind solution that enables early-stage diabetic kidney diseases (DKD) progression risk assessment by combining diverse data inputs, including validated blood-based biomarkers, inherited genetics, and personalized patient data from electronic health record, or EHR, systems, and employs a proprietary algorithm to generate a unique patient risk score. This patient risk score enables prediction of progressive kidney function decline in CKD, allowing physicians and healthcare systems to optimize the allocation of treatments and clinical resources to patients at highest risk

Sources

1 https://www.cdc.gov/kidneydisease/publications-resources/ckd-national-facts.html
2 https://www.nicresearch.com/clinical-research-necessary-nephrology/
3 https://optn.transplant.hrsa.gov/

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 potential benefits, including economic savings, of KidneyIntelX, the potential for KidneyIntelX to receive regulatory approval from the FDA, the commercial prospects of KidneyIntelX, if approved, including whether KidneyIntelX will be successfully adopted by physicians and distributed and marketed, our expectations regarding reimbursement decisions and the ability of KidneyIntelX to curtail costs of chronic and end-stage kidney disease, optimize care delivery and improve patient outcomes. 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.

FAQ

What is the significance of Tim Scannell's appointment to Renalytix (RNLX)?

Tim Scannell's appointment as an independent Non-Executive Director is significant due to his extensive experience in healthcare innovation and leadership roles, including his past position at Stryker.

How can Tim Scannell's experience impact Renalytix's future?

Scannell's experience in medical technology can enhance Renalytix's strategy and potentially lead to improved product development and market penetration.

What are the main concerns regarding the leadership change at Renalytix (RNLX)?

Concerns mainly revolve around the potential disruption in board continuity and how new dynamics might affect strategic decisions.

What is KidneyIntelX and why is it important for Renalytix?

KidneyIntelX is Renalytix's leading product designed for early-stage chronic kidney disease risk assessment, crucial for improving patient outcomes and potentially driving commercial success.