EKF Diagnostics announced on Thursday that its subsidiary Renalytix AI has signed an exclusive licence and collaboration agreement with New York's Icahn School of Medicine at Mount Sinai.
Under the terms of the deal, the AIM-traded company will give Icahn School of Medicine access to its biomarkers and artificial intelligence technology for the purposes of researching patient data and identifying candidates who face the highest risk of progressive diabetic kidney disease.
Barbara Murphy, dean for clinical integration and population health and chair of the department of medicine at the Icahn School of Medicine and chair of the Renalytix AI scientific Advisory board said: "Our ability to apply the power of artificial intelligence against such a deep repository of data and disease specific biomarkers has the potential to change the game for all of our diabetic patients and other populations at risk for kidney disease."
The disease costs the US healthcare system $100bn per year, according to EKF Diagnostics.
Meanwhile, Renalytix AI will gain access to Mount Sinai's data warehouse, which contains 3m patient records, with the hope that this will aid the company in creating an advanced learning system to monitor and flag patients at risk for kidney disease.
Julian Baines, chief executive of EKF and executive chairman of Renalytix AI, said: "Coupling its technology with the Mount Sinai patient database will improve patient care in end stage renal disease, a significant unmet medical need. The fact that so many patients on dialysis have never seen a specialist has to change, both from a patient care and cost perspective. I believe that this partnership will result in Renalytix AI being leaders in the field of kidney care, alongside Mount Sinai."
Following the completion of the agreement Mount Sinai has committed to participation in testing thousands of at-risk patients in a $6m clinical utility study in 2019.
Subject to funding, the company will then seek to develop and launch a product for the early identification and management of kidney disease.
As of 1610 BST, EKF Diagnostics' shares
were up 7.62% at 33.90p.