BUZZ — AI prenatal screening firm Identifai Genetics shines in ASX debut

* Identifai Genetics makes ASX debut, with shares up as much as 20% at A$0.24 after the biotech raised A$10 million ($6.95 million) via an IPO priced at A$0.20 per share * Company is developing an AI-powered platform that screens unborn babies for certain inherited conditions using one blood sample from the mother * IPO proceeds will fund US laboratory readiness, a multi-centre clinical study, among others * The technology originated from research at Tel Aviv University and is backed by an IP portfolio spanning 11 patent families and about a decade of research, Identifai says * Company posted a loss of $2.2 million for the period ended July 16, wider than a loss of $562,757 last year, as R&D expenses increased - Filing * Stock last up 17.5% at A$0.235, valuing the company at about A$25.6 million, according to LSEG0-compiled data and the company filing ($1 = 1.4380 Australian dollars) (Reporting by Kumar Tanishk in Bengaluru) ((mailto:Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk )