GUILDFORD, England,
Jan. 28, 2016 /PRNewswire/
-- ANGLE plc (AIM: AGL and OTCQX: ANPCY), 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."
The full Interim Results are available on the ANGLE plc
website
Please see
http://www.angleplc.com/investor-information/regulatory-news-announcements/
for details and select Interim Results.
These Interim Results may contain forward-looking statements.
These statements reflect the Board's current view, are subject to a
number of material risks and uncertainties and could change in the
future. Factors that could cause or contribute to such changes
include, but are not limited to, the general economic climate and
market conditions, as well as specific factors including the
success of the Group's research and development and
commercialisation strategies, the uncertainties related to
regulatory clearance and the acceptance of the Group's products by
customers.
For Frequently Used Terms, please see the Company's website on
http://www.angleplc.com/the-parsortix-system/glossary/
Notes for editors
About ANGLE plc
www.angleplc.com
ANGLE is a specialist medtech company commercialising a
disruptive platform technology that can capture cells circulating
in blood, such as cancer cells, even when they are as rare in
number as one cell in one billion blood cells, and harvest the
cells for analysis.
ANGLE's cell separation technology is called the
ParsortixTM system and it enables a liquid biopsy
(simple blood test) to be used to provide the cells of interest.
Parsortix is the subject of granted patents in the United States, Canada, China
and Australia and three extensive
families of patents are being progressed worldwide. The system is
based on a microfluidic device that captures cells based on a
combination of their size and compressibility. The Parsortix system
is established with strong positive evaluations from leading cancer
research centres and is working with these cancer centres to
demonstrate key applications. Parsortix has a CE Mark for
Europe and FDA authorisation is in
process for the United States.
The analysis of the cells that can be harvested from patient
blood with ANGLE's Parsortix system has the potential to help
deliver personalised cancer care offering profound improvements in
clinical and health economic outcomes in the treatment and
diagnosis of various forms of cancer.
The global increase in cancer to a 1 in 3 lifetime incidence is
set to drive a multi $billion clinical market. The Parsortix system
is designed to be compatible with existing major medtech analytical
platforms and to act as a companion diagnostic for major pharma in
helping to identify patients that will benefit from a particular
drug and then monitoring the drug's effectiveness.
Now that the Parsortix system has been developed, ANGLE is
focused on its commercialisation in the market. The product
is on the market and being sold for research use and work is
progressing towards approvals for clinical use to permit clinical
sales of the system.
ANGLE is strongly focused on establishing the use of the
Parsortix system in clinical practice. To achieve this, ANGLE
has established formal collaborations with world-class cancer
centres. These Key Opinion Leaders are working to identify
applications with medical utility (clear benefit to patients), and
to secure clinical data that demonstrates that utility in patient
studies. ANGLE believes this is the optimal approach for
unlocking the multi-billion dollar worldwide market available to
the Company and its potential strategic partners. Details are
available here http://www.angleplc.com/the-company/collaborators/
As well as cancer, the Parsortix technology has the potential
for deployment with several other important cell types in the
future.
ANGLE stock trades on the AIM market of the London Stock
Exchange under the ticker symbol AGL and in New York on the OTC-QX under the ticker symbol
ANPCY. For further information please visit: www.angleplc.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/interim-results-for-the-six-months-ended-31-october-2015-300211134.html
SOURCE ANGLE plc