MedTech Renalytix plc has appointed former non-executive chair Julian Baines MBE to the role of executive chairman.
The artificial intelligence-enabled in vitro diagnostics company, focused on management of kidney disease, recently raised £11.8 million in a share placing as it looks to scale the commercialisation of its technology.
Baines, former CEO of EKF Diagnostics Holdings Plc and BBI Holdings plc, replaces Christopher Mills, who will move to a non-executive director role. He rejoined the executive team at EKF as executive chairman in February 2023 and is also currently non-exec chairman of Verici Dx plc.
Before joining EKF, he undertook a management buyout at BBI in 2000, a flotation on AIM in 2004 and was responsible for selling the business to Alere Inc in 2008 for around £85 million.
He was previously non-exec chairman of Renalytix from March 2018 to June 2020.
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The London company, which has a base in New York, is pursuing profitability within the next two years. It generated $2.3m in revenue for the financial year ended 30th June 2024, with loss before tax of $44.9m.
James McCullough, CEO of Renalytix plc, commented: “I am delighted to welcome Julian back to the Board of Renalytix. Julian has a wealth of knowledge in the sector and significant experience with AIM-listed healthcare companies which will be paramount toward supporting the commercial success of our business.
“Most importantly, I would like to thank Christopher for his continuing contribution to Renalytix. It is a pleasure to work alongside him, and his leadership as chairman has been invaluable.”
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