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Angle

  • BY: Andrew Hore |
  • POSTED: 04/01/2013 |

Angle is allowing research partners to use and test its Parsortix non-invasive cancer diagnostic product as a first step to commercialising the technology.

Angle has reinvented itself as a medical diagnostics-focused company in recent years and by 2010 it became clear that Parsortix was the best of the prospects that the company had invested in. Angle has chosen to focus the majority of its resources on Parsortix, which has developed diagnostics technology to address a market that could be worth £6bn a year.

Parsortix technology can capture circulating tumour cells (CTCs) in cancer patient blood. CTCs are shed into the bloodstream by primary cancer tumours and they can end up causing secondary cancers. They are difficult to isolate and there can be as few as one CTC in one billion blood cells. The plan is to use the Parsortix technology to develop a straightforward blood test that will enable the monitoring of cancer patients during treatment to assess how effective the treatment is and what options there are. The test would also allow post-treatment monitoring of patients so that any relapse can be detected as early as possible.

Parsortix has developed an automated separation device, the MK1 machine, and a consumable GEN3 separation cassette, which is the size of a microscope slide. The research partners will help to improve the identification of the CTCs as well as providing independent confirmation of the successful performance of the system.

Initial sales to the research sector could start early this year. This market alone is worth £250m.

Angle has been increasing its stake in Parsortix and currently owns 90%. During the summer, Angle raised £1.1m, after expenses, at 40p a share. There was £1.12m in the bank at the end of April 2012.

At 32p a share, Angle is valued at £14m.

Angle still has a 92% stake in IVF embryo viability assessment technology company Novocellus. Due to its partner’s takeover the planned development programme is not going to happen and the IP and rights to the technology for EmbryoSure reverts to Novocellus. Angle will focus its finance and management resources on Parsortix but continues to consider how to commercialise EmbryoSure.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf

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