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Related-party transactions
12 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related-party transactions

15. Related-party transactions

EKF Diagnostic Holdings

During the years ended June 30, 2024 and 2023, the Company incurred expenses of $0 and $0.1 million, respectively, related to employees of EKF who provided services to Renalytix.

Icahn School of Medicine at Mount Sinai

In May 2018, the Company secured its cornerstone license agreement with ISMMS for research and clinical study work and intended commercialization by the Company (see Note 11). As part of the collaboration, ISMMS became a shareholder in the Company and has subsequently made equity investments both in the Company’s IPO on AIM in November 2018, the subsequent sale of ordinary shares in July 2019 and the Company’s IPO on Nasdaq in July 2020, and private placements in April 2022 and February 2023. As of June 30, 2024 and 2023, amounts due to ISMMS totaled $2.3 million and $3.4 million, respectively. During the years ended June 30, 2024 and 2023, the Company incurred expenses of $3.9 million and $3.3 million, respectively, related to its obligations under the ISMMS license agreement.

Private Placement

On March 12, 2024, the Company entered into the Placing Agreement with Stifel, pursuant to which the Company agreed to allot and issue the Placing Shares to the Placees in the Private Placement, up to an aggregate of 46,801,872 ordinary shares. On March 12,

2024, the Company announced that it successfully placed 46,801,872 ordinary shares with both UK and U.S. institutional investors, at a price of £0.20 per ordinary share, raising aggregate gross proceeds of approximately $12 million for the Company (see Note 12).

ISMMS subscribed for a total 9,360,374 ordinary shares at £0.20 per ordinary share in the Private Placement.

Christopher Mills, Non-Executive Chairman, and his related parties subscribed for a total of 4,000,000 ordinary shares at £0.20 per ordinary share in the Private Placement.