Parsortix Update

RNS Number : 9718F

Angle PLC

04 May 2011

 



For immediate release

5 May 2011

ANGLE plc ("the Company")

Parsortix Update 

ANGLE plc, which focuses on the commercialisation of technology and the development of technology-based industry, is pleased to provide an update on its 80% portfolio company Parsortix Inc, which specialises in medical diagnostics. 

Parsortix has developed a separation device, which can isolate intact foetal cells (as opposed to merely DNA fragments) in peripheral maternal blood.  This offers the potential for non-invasive assessment of the health of the unborn child avoiding the current invasive techniques of amniocentesis and chorionic villi sampling. 

Parsortix's separation device has been patented and, as was announced on 27 January 2011, the IP protection has been extended with new patent submissions so that its cell capture technology has intellectual property rights covering foetal cell capture, circulating tumour cells (CTC), bacteria and stem cells. 

As previously announced, Parsortix has consulted with several candidate corporate partners for its cell capture technology.  These consultations have collectively provided valuable new insights into the markets for the technology's applications.  Key near term opportunities for Parsortix have emerged in two areas as follows.

(1) A means has been identified which presents the possibility of substantially increasing the capability and value of the foetal cell product through a further Parsortix innovation that will refine its ease of use and efficacy in working clinical operations.

(2) The potential deployment of Parsortix's technology to capture circulating tumour cells has attracted particular interest amongst major corporates. It is now clear that, if Parsortix's technology can be deployed in this area, there will be a substantial increase in value of the business as a result of the potential to enable improved diagnosis and treatment of cancer. 

Parsortix therefore has two important opportunities for a substantial near term increase in the value of its business through (i) additional development of its peripheral blood foetal cell capture technology; and (ii) demonstrating that the device also has the capability to separate and isolate circulating tumour cells.  These opportunities are such that the Board has decided to postpone discussions with major corporates whilst Parsortix carries out further technical work on both the foetal cell and circulating tumour cell applications.  

Initial outcomes from this work, which will be funded from existing resources, are expected during the Summer, at which point the ongoing commercialisation strategy for Parsortix will be confirmed.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"The prospect of broadening Parsortix's capabilities to capture circulating tumour cells is commercially very exciting as it offers the potential to improve both the management of cancer treatment and post remission monitoring to reduce the likelihood of secondary cancers."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Collins Stewart Europe Limited Matt Goode	0207 523 8350
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030

Notes to Editors

ANGLE plc 

Founded in 1994, ANGLE focuses 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's specialist Management services business provides support on a fee-for-service basis to major clients around the world involved in incubation, IP commercialisation, SME innovation and growth and the operation of science & technology parks.

ANGLE also owns a portfolio of company holdings with high growth potential in the medical and technology sectors.  These have been developed whilst subsidiaries of ANGLE using its proprietary Progeny® process.  ANGLE seeks to retain a substantial shareholding in these companies with a view to ongoing returns from dividend, milestone, royalty and capital returns.   

ANGLE's technology commercialisation skills are of increasing relevance as global economies focus on regeneration, innovation and value added components to their industries.  ANGLE's technology skills in IT and software, medical and life sciences, cleantech and renewable energies are directly relevant to major growth markets of the future and are marketed as specialised Management services. 

ANGLE is quoted on AIM (AGL.L); further information can be found on www.ANGLEplc.com  

 

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