2011 AGM Statement

RNS Number : 6591P

Angle PLC

06 October 2011

 



For immediate release

6 October 2011

ANGLE plc ("the Company")

2011 AGM Statement

ANGLE plc (AIM : AGL) ("ANGLE" or "the Company") will hold its 2011 Annual General Meeting today at 2:00pm at ANGLE's offices, 3 Frederick Sanger Road, Surrey Research Park, Guildford, Surrey, GU2 7YD.

Garth Selvey, ANGLE's Chairman, will make the following statement:

"I am delighted with the progress made during the year set out in our preliminary results for the year to 30 April 2011.

Since the announcement of those results, we have made excellent progress with Parsortix, our portfolio company specialising in cancer diagnostics, which was the catalyst for our successful £1.25 million fundraising in July supported by existing and new investors.  

Last week ANGLE achieved a major milestone by validating that Parsortix's patented cell separation device can capture cancer cells added to blood.  This breakthrough opens up a large market opportunity for Parsortix with the potential for early revenues through the launch of a research use tool targeted for mid 2012.  We are also targeting FDA approval and a European CE Mark by mid 2013 to enable launch of the device for a number of different clinical applications.  

Yesterday we announced that, following the success in validating that Parsortix's cell separation device can capture cancer cells added to blood, ANGLE has increased its holding in Parsortix to 90% and has agreed an ongoing mechanism for investment by ANGLE, which will gradually increase ANGLE's holding further as funds are deployed in Parsortix.

This leaves ANGLE in the enviable position of having a diversified business model, with a number of potential streams of income and opportunities for substantial returns.

I would again like to thank ANGLE's team, our partners and shareholders for their ongoing support and we look forward to achieving further value enhancing milestones over the next year.

Finally, in light of the market's positive reaction to the significant developments at Parsortix and investor requests to understand more about the Parsortix's patented cell separation device, ANGLE announced on Tuesday 4 October that it would be holding an investor webcast tomorrow Friday 7 October at 9:00am (BST)."

Webcast and Dial-in Details

Please log on 10 minutes before the start of the webcast (8:50am). The address is:

http://mediaserve.buchanan.uk.com/2011/angle071011/registration.asp

Once registered, there will be an option during the presentation to send a question to ANGLE's management. To use the dial-in facility please call: [phone]. The Participant Pass code is: 223399.

A recording of the webcast will also be made available on ANGLE's website.

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
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030

 

END

 

 

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