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The technology, called UAL-Chip, uses microfluidic technology to test for levels of albumin in urine and deliver rapid results to a user's smartphone.
Following the launch of its urine-based Qsant assay later this year, the firm plans to develop updated versions of it with new biomarkers for different disease indications.
Bio-Techne expects the acquisition will provide it with a basis to build out its IVD presence, given Asuragen's diagnostic tests and regulatory expertise.
The startup will use the funds to support R&D and to launch its Qsant urine test to help determine if a patient's body is rejecting a kidney transplant.
For the three months ended Dec. 31, 2020, the firm reported $400,000 in pharmaceutical service revenue compared to none in 2019.
RenalytixAI will provide financial support to the University of Utah in the form of sponsored research into kidney disease progression, treatment, and biomarkers.
The company aims to transition its NMR-based platform from research to clinical use and is exploring areas including kidney and liver disease and neurology.
The firms will launch a pilot program in three undisclosed US metropolitan regions later this year and collect data from at least 2,000 patients per area.
The firms will pursue risk-sharing arrangements with providers and payors to drive kidney disease patient care innovation, minimize costs, and improve quality of life.
Bio-Techne said that it is collaborating with Regulus to develop assays to support the assessment of levels of polycystin 1 and polycystin 2 in clinical trial testing.