Parsortix Update

RNS Number : 0560P

Angle PLC

28 September 2011

 



For immediate release

28 September 2011

ANGLE plc ("the Company")

Parsortix Update

VALIDATION FOR CANCER CELL ISOLATION TECHNOLOGY   

ANGLE plc (AIM : AGL) is delighted to announce that Parsortix Inc ("Parsortix"), its 85% owned portfolio company which specialises in medical diagnostics has achieved a major milestone by validating that its cell separation device can capture cancer cells added to blood.

ANGLE has now confirmed that Parsortix's patented cell separation device:

·     Can be used, on a reproducible basis, to isolate and capture very small numbers of cancer cells from whole blood;

·     Appears to efficiently capture all of the cancer cells, avoiding the risk of failing to detect cancer cells present in a blood sample;

·     Allows the identification of cancer cells within the device, without requiring a complicated cell extraction process;

·     Does not require use of expensive and sometimes unreliable antibody affinity capture technology to isolate the cancer cells.

Use of Parsortix's separation device to capture circulating tumour cells (CTCs) in cancer patient blood has an immediate market application for research purposes. 

ANGLE has already established discussions with several of the world's leading cancer research institutes and there is strong interest in such a product, which would not require regulatory approval for use for research purposes.  The target is to establish sales of the product for research purposes as early as the second half of 2012.

There is also the potential for a corporate partnership with one or more of the largest global medical diagnostic companies and initial discussions have identified encouraging interest in a commercial collaboration.  This will be explored further over the coming months.

In addition to the substantial commercial opportunities available prior to regulatory approval in respect of sales of product for research purposes and corporate partnerships, there are major clinical markets for a simple CTC counting product estimated to exceed $4 billion per annum in the United States market alone.  The target is to seek FDA approval and European CE Mark by mid 2013 enabling sales of product for clinical use in relation to:

·     Early detection of cancer;

·     Monitoring of cancer patients during treatment;

·     Post-treatment monitoring of cancer patients in remission.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"These findings along with encouraging discussions we have had with leading cancer experts reinforce our view that Parsortix's cancer diagnostic has the potential to meet a key medical requirement and offers an outstanding commercial opportunity for ANGLE."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Collins Stewart Europe Limited Matt Goode	0207 523 8350
Buchanan Lisa Baderoon	020 7466 5000 / 07721 413 496
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030

 

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