GUILDFORD, England, Dec. 15, 2015 /PRNewswire/ -- ANGLE plc (AIM: AGL OTCQX: ANPCY), the specialist medtech company, is pleased to announce that first research use sales of the Parsortix system have been secured in line with the strategy set out in the Company's Preliminary Results on 23 July 2015.
The Company estimates that the addressable market for research use sales for Parsortix is c. £250 million per annum and ANGLE is seeking to achieve a gradual growth in revenues from this segment. Revenues are expected to be modest initially but to grow over time.
ANGLE is initially targeting sales to leading cancer research centres. In addition to revenue contribution, research use sales broaden the range of users of the system investigating new clinical applications in different cancer types and generating additional posters, publications and clinical evidence of the value of the Parsortix liquid biopsy.
Where successful, this work may lead to the Parsortix system being adopted for new clinical applications and companion diagnostics (diagnostic tests to determine whether a cancer drug will benefit a patient). Widespread use of Parsortix in research is thus an important element in growing the overall market for ANGLE as well as being economically beneficial in its own right.
ANGLE's Founder and Chief Executive, Andrew Newland, commented:
"Following strong third party evaluations of the Parsortix system and a successful and sustained phase of optimising the system's operation, efficiency and consistency, we believe ANGLE's Parsortix system is a market leading, robust and high performance CTC liquid biopsy solution. Customer interest is encouraging and we expect to see growing research use sales ahead of entering the clinical market."
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 worldwide market available to the Company and its potential strategic partners. Details are available here http://www.angleplc.com/the-company/collaborators/
SOURCE ANGLE plc