ANGLE plc Preliminary Results for the year ended 30 April 2015

HIGHLY ENCOURAGING PATIENT RESULTS IN OVARIAN CANCER

Jul 23, 2015, 08:21 ET from ANGLE plc

GUILDFORD, United Kingdom, July 23, 2015 /PRNewswire/ -- ANGLE plc (AIM: AGL OTCQX: ANPCY), the specialist medtech company with pioneering products for cancer diagnostics, today announces audited preliminary results for the year ended 30 April 2015.

Highlights

  • First clinical application for Parsortix cell separation system determined in ovarian cancer following compelling 65-patient study published by the Medical University of Vienna demonstrating high sensitivity and specificity in detecting ovarian cancer and certain other women's cancers
  • Key Opinion Leader platform strengthened with the addition of six further world-class cancer centres making a total of nine Key Opinion Leaders
  • Uniformly positive results published by five Key Opinion Leaders of performance of Parsortix system
  • Initiation of first two corporate collaborations
  • Commercial strategy on track with first sales for research use to commence in the current financial year  
  • Intellectual property further enhanced; second US patent granted and patents granted in China and Australia
  • Continuing investment to advance and drive adoption of Parsortix
    • Financial position strengthened following successful fundraising of £8.2 million net of expenses
    • Loss from continuing operations of £3.9 million (2014: £2.2 million) reflecting planned investment
    • Cash balance at 30 April 2015 of £8.4 million (30 April 2014: £3.9 million)

Post year end highlights

  • Prostate cancer 52-patient study published by Barts Cancer Institute indicating capture of cancer cells from Parsortix liquid biopsy in 100% of patients
  • Eminent scientific advisors, Jim Reuben from MD Anderson Cancer Center and Daniel Danila from Memorial Sloan Kettering Cancer Center join Scientific Advisory Board

Garth Selvey, Chairman, commented:

"We have made strong progress advancing our strategy this year through the validation of the Parsortix cell separation system by world class cancer centres. We have identified ovarian cancer for the first clinical application for the Parsortix system following a successful patient study with the Medical University of Vienna which demonstrated Parsortix's potential to identify ovarian cancer with high sensitivity and specificity where traditional techniques fail.  In the coming year, we are well funded to focus on the development of research use sales, and advance a large scale study in ovarian cancer to establish Parsortix as a diagnostic tool to enable clinicians to choose the most appropriate treatment thereby improving patient outcomes."

The full Preliminary Results are available on the ANGLE plc website

Please see http://www.angleplc.com/investor-information/regulatory-news-announcements/  for details and select Final Results.

These Preliminary Results may contain forward-looking statements. These statements reflect the Board's current view, are subject to a number of material risks and uncertainties and could change in the future. Factors that could cause or contribute to such changes include, but are not limited to, the general economic climate and market conditions, as well as specific factors including the success of the Group's research and development and commercialisation strategies, the uncertainties related to regulatory clearance and the acceptance of the Group's products by customers. 

 

SOURCE ANGLE plc



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