New Venture - Parsortix Inc

Angle PLC 04 May 2006 For Immediate Release 4 May 2006 ANGLE plc ('ANGLE' or 'the Company') New Venture Company: Parsortix Inc ANGLE plc ('ANGLE'), the venture management and consulting company specialising in the commercialisation of technology, is pleased to announce the launch of its latest venture company, Parsortix Inc, which was agreed on 28 April but for reasons of commercial confidentiality was embargoed until now. In accordance with ANGLE's Progeny(R) process for creating new ventures, Parsortix has secured intellectual property that has the potential to change the $600 million global market for prenatal diagnostics by eliminating the need for maternal invasive procedures. The technology, developed in private laboratories in both the US and Europe, is also applicable to bone marrow transplant procedures used in the therapeutic regimen for the treatment of cancer. Approximately 6.5 million pregnancies occur in the United States alone each year. Parsortix's technology enables the determination of chromosomal abnormalities in the first trimester of pregnancy without the need for invasive diagnostic procedures. Early definitive diagnosis for chromosomal abnormalities associated with spina bifida, Down's, Turner, and Klinefelter syndromes, as well as other disorders due to genetic abnormalities, can help physicians better care for both the mother and the foetus during pregnancy. It also gives families earlier information with respect to the health of the unborn child and avoids the risk to mother and foetus of the maternal invasive procedures currently used. This technology should also help provide better care for chemotherapy and radiation treated patients who have to undergo bone marrow transplants. In addition, it should help ensure the safety of marrow transplants for the patients receiving their own bone marrow (autologous transplants) and may also be used in preventing immune rejection during bone marrow transplant from another donor. The technology will fit into current medical practice enabling less expensive procedures, and more timely diagnosis adding value to both prenatal care and cancer therapeutics. In accordance with its process for new venture creation, ANGLE will provide management and initial funding to Parsortix, creating a business plan, initial management, IP protection, regulatory guidance, and product planning. This company is being formed in accordance with the strategic relationship between the Ben Franklin Technology Partners of Southeastern Pennsylvania and ANGLE. The agreement provides that ANGLE will work with BFTP to form companies in the South Eastern Pennsylvania region to promote economic development in the region through the formation of technology based enterprises. Commenting on the formation of Parsortix, ANGLE's Chief Executive, Andrew Newland said: 'We are delighted to have launched Parsortix Inc. The prenatal diagnostic market is one that is ready for a new approach and the benefits of early diagnosis without the risk of maternal invasive procedures is enormous. This is the first company resulting from our preferred commercialisation partner agreement with Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), which provides ANGLE access to commercialisation opportunities from more than $1 billion of research funding per annum in the Greater Philadelphia region.' For further information ANGLE plc +44 1483 295830 Andrew Newland, Chief Executive Rob Kornblum, Managing Director US Ventures Buchanan Communications +44 20 7466 5000 Richard Darby, Suzanne Brocks, James Strong, Amy Rajendran Notes to Editors 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 is listed on AIM (AGL.L); further information can be found on www.ANGLEplc.com This information is provided by RNS The company news service from the London Stock Exchange

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