Change of FTSE Industry Classification Benchmark

RNS Number : 5851I

Angle PLC

10 December 2015

 



For immediate release

10 December 2015

ANGLE plc

("ANGLE" or "the Company")

Change of FTSE Industry Classification Benchmark (ICB)

ANGLE plc (AIM: AGL OTCQX: ANPCY), the specialist medtech company, is pleased to announce that further to the December 2015 quarterly FTSE ICB classification changes, ANGLE is being reclassified to Healthcare, sub-sector Biotechnology, effective from Monday 21 December 2015.

ANGLE's proprietary cell separation technology Parsortix is developing a leading position in the fast emerging medical market for liquid biopsy (disease analysis based on a simple blood draw).  Leading cancer centres have demonstrated the performance of ANGLE's Parsortix system in ovarian, breast, prostate and lung cancers.  The liquid biopsy market is projected to be worth US$14 billion in the United States alone by 2025 (source: The Goldman Sachs Group, Inc. Global Investment Research "Liquid Biopsy: Could a simple blood test revolutionize cancer care?" dated 6 October 2015).

ANGLE considers that the classification under Healthcare more accurately reflects the existing and future business activities of the Company following its refocus as a pure play specialist medtech company.

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

"We are pleased that the reclassification has been approved. The change in classification will help ensure that peer-group comparisons are meaningful and should also help attract interest from analysts and investors who specifically follow the Healthcare sector."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Cenkos Securities Stephen Keys, Dr Christopher Golden (Nominated adviser) Russell Kerr, Olly Baxendale (Sales)	020 7397 8900
FTI Consulting Simon Conway, Mo Noonan, Stephanie Cuthbert Kimberley Ha (US)	020 3727 1000 001 212 850 5612

For Frequently Used Terms, please see the Company's website on http://www.angleplc.com/the-parsortix-system/glossary/

Notes for editors

About ANGLE plc     www.angleplc.com 

ANGLE is a specialist medtech company commercialising a disruptive platform technology that can capture cells circulating in blood, such as cancer cells, even when they are as rare in number as one cell in one billion blood cells, and harvest the cells for analysis.

ANGLE's cell separation technology is called the Parsortix system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in the United States, Canada, China and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures cells based on a combination of their size and compressibility. The Parsortix system is established with strong positive evaluations from leading cancer research centres and is working with these cancer centres to demonstrate key applications. Parsortix has a CE Mark for Europe and FDA authorisation is in process for the United States. 

The analysis of the cells that can be harvested from patient blood with ANGLE's Parsortix system has the potential to help deliver personalised cancer care offering profound improvements in clinical and health economic outcomes in the treatment and diagnosis of various forms of cancer.

The global increase in cancer to a 1 in 3 lifetime incidence is set to drive a multi $billion clinical market. The Parsortix system is designed to be compatible with existing major medtech analytical platforms and to act as a companion diagnostic for major pharma in helping to identify patients that will benefit from a particular drug and then monitoring the drug's effectiveness.

Now that the Parsortix system has been developed, ANGLE is focused on its commercialisation in the market. 

ANGLE is strongly focused on establishing the use of the Parsortix system in clinical practice.  To achieve this, ANGLE has established formal collaborations with world-class cancer centres.  These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies.  ANGLE believes this is the optimal approach for unlocking the multi-billion dollar worldwide market available to the Company and its potential strategic partners.  Details are available here http://www.angleplc.com/the-company/collaborators/

As well as cancer, the Parsortix technology has the potential for deployment with several other important cell types in the future.

ANGLE began trading on the AIM market of the London Stock Exchange in March 2004 under the ticker symbol AGL. For further information please visit: www.angleplc.com.

 

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