Novocellus deal

RNS Number : 4370L

Angle PLC

12 January 2009

 



For immediate release

12 January 2009

ANGLE plc

Novocellus deal  

ANGLE plc ('ANGLE') is pleased to announce that its portfolio company, Novocellus Limited, a leader in IVF (in vitro fertilisation) has signed Heads of Terms, which remain subject to contract, for MediCult a/s (OSE: MEC), a leader in Assisted Reproductive Technologies (ART) to acquire its patented, non-invasive embryo selection technology, EmbryoSure™. This method is used to choose the most competent embryo for implantation, which is believed to increase the chances of successful pregnancy. It also supports the growing medical and regulatory trend towards single embryo transfer (SET), thereby avoiding the multiple births and other complications often seen with IVF procedures. 

Under the Heads of Terms, MediCult has agreed to fund and manage a 400 patient retrospective trial in two to three UK clinics to statistically validate the extent to which the use of EmbryoSure will increase the chances of successful pregnancy compared to current visual techniques used to select the most viable embryo. Building on the work already undertaken by Novocellus, this trial is expected to take six to twelve months to complete. On successful completion of this trial, MediCult will make milestone payments, in cash or shares at its option, to Novocellus as well as pay royalties on eventual product sales. Milestone payments will depend on the success of the trial and achieving commercial sales of EmbryoSure. MediCult would commercialise EmbryoSure itself and through its partner distribution companies worldwide.

EmbryoSure is based on amino acid profiling, a technology discovered by Professor Henry Leese at the University of York, UK. It involves measuring the turnover of natural amino acids by the embryo, achieved by analysing changes in the amino acid content of the embryo culture medium. Based on clinical trials completed to date, amino acid profiling appears valuable in identifying those embryos most likely to lead to a successful pregnancy suggesting it could lead to a 25% increase in the clinical pregnancy rate. 

Currently, the selection of embryos for transfer back to the uterus involves a subjective visual assessment of embryo quality and viability. This leads to a relatively low success rate. As a result many embryologists feel it necessary to transfer at least two embryos at a time, increasing the risk of multiple births with its related negative health and cost implications, both major drivers of the growing trend towards SET.

Jesper Funding Andersen, CEO of MediCult commented:

'Through this Heads of Terms and subject to contract, MediCult believes it has gained access to the leading patented technology within the exciting field of embryo selection. Our strategy of keeping ahead of emerging trends in ART positions us well to leverage advances such as the EmbryoSure technology through our existing, strong sales channels.' 

Andrew Newland, Chief Executive of ANGLE plc said:

'MediCult are ideally placed to take on the final stages of development and market launch for EmbryoSure.  MediCult's leading market position in global IVF gives Novocellus access to the largest IVF customer base in the world for sale of the EmbryoSure product once the trials are completed. ANGLE has an 82% holding in Novocellus and we believe the success based milestone and royalty arrangements provide ANGLE with the potential for exceptional returns on its investment.'

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Collins Stewart Europe Limited Mark Connelly, Stewart Wallace	0207 523 8350
Scott Harris  Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030
Buchanan Communications Richard Darby    MediCult a/s Jesper Funding Andersen, CEO	0207 466 5000 [phone]

Notes to Editors

ANGLE (www.angleplc.com)

Founded in 1994, ANGLE is an international venture management company focusing 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 is an active investor in high growth companies in the medical and technology sectors in both the UK and the US, taking operational responsibility for the companies as subsidiaries during the development phase and maintaining a substantial shareholding and close involvement during the growth phase. ANGLE is listed on AIM (AGL.L).   

MediCult a/s (www.medicult.com) 

MediCult a/s is a leader in delivering leading innovative ART solutions to the benefit of families. Through innovation and product advancements, MediCult aims to help the #1 dream of every infertile couple come true. In 2007, it was estimated that a child is born every 8 minutes after conception using a MediCult product. MediCult, which is located in Jyllinge, Denmark and has subsidiaries in 8 countries, is listed on the Oslo Stock Exchange (MEC). 

Novocellus (www.novocellus.com)

ANGLE founded Novocellus in 2004, under its Progeny® programme, to develop and commercialise patented technology based on the research of Professor Henry Leese at the University of York. The technology, Amino Acid Profiling (AAP), is a quantitative, non-invasive method for selecting those embryos that are most likely to lead to a successful pregnancy. 

In 2009, it is estimated that there will be over 1,000,000 cycles of IVF carried out globally, a figure that is growing at more than 4% a year. Adoption of EmbryoSure™ will be driven by the need of patients, healthcare providers and clinicians for a higher degree of certainty that the embryos being transferred are likely to lead to a successful pregnancy.

 

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