leadf
logo-loader
viewANGLE PLC

ANGLE looks to unlock commercial potential of liquid biopsy

ANGLE now has momentum and is making strong progress towards commercialising its unique liquid biopsy platform to support personalised cancer care, said chairman, Garth Selvey

ANGLE PLC -
The company's Parsortix technology can detect the circulating tumour cells found in blood

ANGLE PLC (LON:AGL, OTCQX:ANPCY) chairman Garth Selvey said the med-tech group is now making “strong progress” towards commercialising its breakthrough liquid biopsy.

ANGLE used its interim results to restate plans outlined earlier in the week as it raised £19.6mln to fund its ambitious blueprint.

The cash injection will be invested to create clinical laboratories in the US and UK and to underwrite the development of a pharma service business that will tap into the huge market potential of its Parsortix cancer cell detection technology.

Much of the work carried out in the six months ended June 30, 2020, was devoted to collating the data required for a De Novo submission to the US Food & Drug Administration for the use of Parsortix in analysing metastatic breast cancer.

The information was formally handed over to the American regulator in late September, and ANGLE said the “earliest prospect for clearance” was the second quarter of next year.

“This marked a watershed moment for ANGLE in its goal to achieve the first-ever FDA clearance, the gold standard for medical devices globally, for a system to harvest cancer cells from patient blood for subsequent analysis, initially in metastatic breast cancer,” said chairman Selvey in the results statement.

Clinically, the company’s scientific team is focused on a US ovarian cancer clinical verification study with patient enrolment expected to be complete in the second three months of 2021.

Financially, ANGLE did what most R&D companies are expected to do – it burned cash and made a loss. That first-half loss was flat at £4.8mln.

More importantly, it exited the period with £13.8mln in the bank, and it added a ‘net’ £18.5mln from this week’s fundraising activities.

Quick facts: ANGLE PLC

Price: 43.5 GBX

AIM:AGL
Market: AIM
Market Cap: £93.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ANGLE PLC named herein, including the promotion by the Company of ANGLE PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Angle’s Newland reflects on excellent year as cancer patient trials advance

Angle Plc (LON:AGL, OTCMKTS:ANPCY) is poised to revolutionise cancer treatment with its Parsortix system, here we catch up with chief executive Andrew Newland. As Newland explains Parsortix can capture cancer cells from blood, which is very significant for the emerging field of...

on 07/28/2016

2 min read