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ANGLE plc Announce Half Year Results and Confirm Parsortix Commerciali


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ANGLE plc Announce Half Year Results and Confirm Parsortix Commercialisation is on Track


28/01/2016

Guildford, UK – ANGLE plc, the specialist medtech company, today announces its unaudited interim financial results for the six months ended 31 October 2015.  The Company is focused on commercialising its patented ParsortixTM liquid biopsy system which has the potential to transform a wide range of cancer treatments by making it possible to capture intact tumour cells from patient blood for analysis at any stage of the diagnosis and treatment process.

Key Highlights  

Significant progress against key commercial objectives

Sales: pipeline established and first sales for research use secured post period end

FDA: active dialogue and progress with FDA authorisation; three leading US cancer centres selected to complete clinical validation

Ovarian cancer clinical application: clinical study protocols finalised and three leading European cancer centres in the process of initiating studies

Key Opinion Leaders at prominent cancer centres continue to investigate additional potential clinical applications for Parsortix notably

Prostate cancer (Barts Cancer Institute)

Breast cancer (University of Southern California)

Lung cancer (Cancer Research UK Manchester)

First peer-reviewed paper on the application of Parsortix published in PLOS ONE Public Library of Science

Two further peer-reviewed publications released post period-end adding to the growing body of published evidence supporting the Parsortix performance

Patent portfolio strengthened

Additional patents granted in Canada, China and Australia to add to the two existing granted U.S. patents

World-leading CTC experts, Jim Reuben (MD Anderson Cancer Center) and Daniel Danila (Memorial Sloan Kettering Cancer Center), join Scientific Advisory Board

Financial Highlights

Planned product development and commercialisation activities resulted in a reported loss for the six months ended 31 October 2015 of £2.3 million (H1 2015: loss £1.6 million)

Cash balance at 31 October 2015 of £5.8 million (30 April 2015: £8.4 million).  Cash received of £0.7 million post period end following the release of the full escrow from the sale of Geomerics

 Garth Selvey, Chairman, commented:

“We have made consistent progress in our strategy towards full commercialisation of the Company’s Parsortix liquid biopsy system.  We believe that the unique features of the patented Parsortix system have the potential to transform cancer treatment and we are well placed to participate in the global liquid biopsy market forecast to be US $14 billion per annum in the United States alone by 2025.”

Analyst meeting and webcast details

A meeting for analysts will be held at 10:00am on 28 January 2016 at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.  Please contact FTI Consulting on 020 3727 1000 for details.

To listen to the live webcast of the analyst meeting, please see

http://www.angleplc.com/investor-information/corporate-presentations/ for details.

CompanyANGLE plc
Company Websitehttp://www.angleplc.com

 

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