Renalytix PLC (AIM:RENX) shares fell 12% to 46.09p after it said newly allowed US patents further strengthen the core intellectual property underpinning its KidneyIntelX blood test technology.
The US Patent Office issued a new notice of allowance of claims surrounding the biomarkers sTNFR1 and sTNFR2 used in the kidneyintelX.dkd test.
Directly incorporating the biomarkers into a set of consolidated claims directed towards identifying the risk of early kidney function decline enables therapeutic strategies for those at increased risk of progressive decline, the company said.
Renalytix believes this, alongside the US FDA's de novo marketing authorization, broad insurance coverage and published clinical data, increases its competitive advantage and creates further barriers to entry in the market for improving clinical management of kidney disease.
It said it is pursuing a similar strategy in Europe.