Sara Barrington of Verici Dx explains their how recent funds raised will accelerate the commercialisation of lead products

Sara Barrington, CEO of Verici Dx #VRCI explains their progress since IPO and how the recent funds raised will maintain momentum on the development of the Company's third product, Protega™ and accelerate the commercialisation of lead products Clarava™ and Tuteva™.

Transaction Highlights

The Company intends to use the net proceeds of the Fundraise to take advantage of the opportunities outlined in the Progress and Strategy announcement released on 12 January 2022 and continue the accelerated progress the Company has experienced to date. 

As of 31 December 2021, the Company had unaudited net cash of £7.7 million ($10.3 million).  The net proceeds of the Fundraise will be used, together with the Company's existing available resources, to: 

·    Maintain momentum on the development of the Company's third product, Protega™, to maximise the efficiency gains in using existing validation sites set up for the Company's two lead products, Clarava™ and Tuteva™;

·   Carry out planned construction of the Company's expanded CLIA approved laboratory facilities in Tennessee to support the scale-up of business operations in advance of commercialisation;

·    Accelerate the commercialisation of lead products Clarava™ and Tuteva™ through advocacy with clinicians;

·    Explore potential growth opportunities including adding new technology (including possible in-licence or acquisition) and Artificial Intelligence ("AI") capability to support and enhance the use of Verici Dx product tests alongside digital histopathology imagery; 

·    Develop the Company's nascent data assets; and

·    Support general working capital purposes.

About Verici Dx plc

Verici Dx is a developer of a complementary suite of leading-edge tests forming a kidney transplant platform for personalised patient and organ response risk to assist clinicians in medical management for improved patient outcomes.  The underlying technology is based upon artificial intelligence assisted transcriptomic analysis to provide RNA signatures focused upon the immune response and other biological pathway signals critical for transplant prognosis of risk of injury, rejection and graft failure from pre-transplant to late stage.  The Company also has a mission to accelerate the pace of innovation by research using the fully characterised data from the underlying technology and collaboration with medical device, biopharmaceutical and data science partners.

The foundational research was driven by a deep understanding of cell-mediated immunity and is enabled by access to expertly curated collaborative studies in highly informative cohorts in kidney transplant.