Second Novocellus Patent

RNS Number : 8629X

Angle PLC

22 February 2012

 



For immediate release

22 February 2012

ANGLE plc

("ANGLE" or "the Company")

SECOND NOVOCELLUS PATENT INCREASES PERIOD FOR ROYALTY PAYMENTS  

ANGLE plc (AIM: AGL) is delighted to announce that the Second Novocellus Patent application for the Novocellus product EmbryoSure^® for IVF embryo viability has been allowed for issuance as a patent by the United States Patent and Trademark Office (USPTO).  Novocellus is 92% owned by ANGLE.

The patent extends the period during which Novocellus could receive royalty payments from its commercialisation partner ORIGIO in relation to the US territory by an additional six and a half years from 19 January 2022 (being the date of expiry of the First Novocellus Patent plus the additional 12 months agreed with ORIGIO) to 2 October 2028 (being the date of expiry of the Second Novocellus Patent plus the additional 12 months agreed with ORIGIO). 

The expiry date given by the USPTO includes 250 days 'Patent Term Adjustment' and it is possible that this may increase dependent on the time taken to issue the granted patent.

In addition to the United States, Novocellus is progressing applications for the Second Novocellus Patent in the majority of the world's major economic territories namely Australia, Canada, China, Europe, Hong Kong, India, Japan and Norway.  These applications are proceeding along the normal course and are expected to grant with similar expiry dates to the US application with the exception that there will be no 'Patent Term Adjustment' in these territories.  The royalty period is therefore expected to be increased by an additional six years in these territories to 26 January 2028 (being the date of expiry of the Second Novocellus Patent in these territories plus the additional 12 months agreed with ORIGIO).

The new revitalised agreement with ORIGIO announced on 26 January 2012 is progressing well.  ORIGIO has initiated the trials process and we expect the first patients to be enrolled in the trial in about six weeks' time and the retrospective study will be conducted expeditiously with a target completion in mid-year 2013. 

If the EmbryoSure^® trials are successful, the royalty potential for Novocellus if the product is adopted across all of ORIGIO's existing customer base is circa £25 million per annum. The impact of the Second Novocellus Patent granting is the potential for additional cumulative royalty income of over £150 million to Novocellus.

ANGLE's Founder and Chief Executive, Andrew Newland, commented:

"The issuance of this second EmbryoSure^® patent is excellent news for ANGLE and substantially increases the potential return available to ANGLE from our 92% holding in Novocellus. We believe that EmbryoSure^® has the potential to significantly increase the success rates of IVF treatment."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Cenkos Securities Stephen Keys, Adrian Hargrave (Nominated adviser) Andy Roberts (Sales)	020 7397 8900
Buchanan Mark Court, Sophie Cowles	020 7466 5000
Scott Harris Stephen Scott, Harry Dee	0207 653 0030

 

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