Angle PLC
20 October 2005
For Immediate Release 20 October 2005
ANGLE plc
CONTRACT EXTENSION
ANGLE plc the venture management and consulting company specialising in the
commercialisation of technology is pleased to announce that The Fairfax County
Economic Development Authority ('FCEDA') has extended its contract with ANGLE
Technology Group US ('ANGLE Technology') through until June 2007. ANGLE
Technology, headquartered in Virginia and formed in 1999, is the US technology
division of ANGLE plc. The FCEDA promotes Fairfax County, Virginia, as a
world-class centre of commerce and trade and the technology hub of the east
coast of the United States.
The contract extension value is $0.47 million taking the total contract value
since commencement in October 2001 to $1.92 million. Under the terms of the
contract, ANGLE Technology is to further develop, manage and provide full
on-going support to the BioAccelerator of Fairfax County, a business incubation
program set-up in 2002 to develop early-stage biotechnology, biomedical and
bioinformatics companies.
The FCEDA created the BioAccelerator of Fairfax County to serve as a catalyst
for the development of the bioscience industry in Northern Virginia. The role of
ANGLE Technology ranges from business plan review, sales and marketing advice,
and business mentoring, to recruitment activities and assistance with financing
for companies in the BioAccelerator. These companies represent converging
technologies that include bioscience, nanotechnology, environmental sciences,
medical devices and software for biomedical research and healthcare.
The ANGLE team also actively supports FCEDA marketing investment in
international life science companies. Support for these companies focuses on the
establishment of US business operations and the development of targeted US
marketing activities.
Andrew Newland, Chief Executive of ANGLE said:
'Fairfax County is leading location in the United States for biomedical
technology. We are delighted that this important contract has again been
extended. In addition to its financial value, our work on the BioAccelerator
provides us with a pipeline of opportunities for our expanding ventures business
in the Mid-Atlantic region of the US.'
For further information, please contact:
ANGLE plc Tel: +44 (0)1483 295830
Andrew Newland, Chief Executive
Ian Griffiths, Finance Director
Buchanan Communications Tel: +44 (0)20 7466 5000
Richard Darby, Suzanne Brocks, James Strong
Notes to Editors
ANGLE plc - founded in 1994, ANGLE is an international venture management and
consulting company focusing on the commercialisation of technology and the
development of technology-based industry. ANGLE creates, develops and advises
technology businesses on its own behalf and for its clients. ANGLE operates from
offices in the UK, the US and the Middle East.
ANGLE is listed on AIM (AGL.L); further information can be found at
www.angleplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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