News blog
Angle
- BY: Andrew Hore |
- POSTED: 12/01/2009 |
Angle’s investee company Novocellus is planning to sell its EmbryoSure technology to Denmark-based MediCult.
Angle owns 82% of IVF efficiency technology developer Novocellus. EmbryoSure increases the chance of a successful pregnancy from IVF. The technology is based on amino acid profiling and was developed by Professor Henry Leese at the University of York. The technology could increase the pregnancy rate by 25%.
MediCult will fund a 400 patient trial, which will take between six and 12 months to complete, and commercialise the EmbryoSure technology. Novocellus will receive milestone payments and royalties on product sales – assuming the trial is successful.
No monetary figures have been placed on this deal which is still subject to contract.
Braveheart Investment Group decided against bidding for Angle on 12 September 2008. Angle had already withdrawn in July 2008.
Shares in Angle rose 1p to 8p each, which values the technology company developer and investor at £2.17m. That is still less than one-half of the company’s value before the Braveheart bid was ruled out.
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