Angle PLC Announces New Commercial Agreement with AstraZeneca

Rhea-AI Summary

ANGLE plc has signed a commercial agreement with AstraZeneca to develop a methodology using its DNA damage response assay for detecting micronuclei in circulating tumor cells. The agreement is worth £150,000 for a 6-month development phase. The DDR therapeutics market is projected to reach $10.4 billion by 2031 with a CAGR of 6.5%, driven by the need for novel targeted medicines for cancer treatment.

Positive

• ANGLE plc has secured a supplier agreement with AstraZeneca PLC to adapt its DNA damage response assay for the detection of micronuclei in circulating tumor cells.
• The agreement involves ANGLE developing a novel methodology based on its existing pKAP1 CTC-based DDR assay in Guildford, UK.
• The 6-month development phase of the agreement is valued at an initial £150,000 and aims to enhance understanding of the DDR pathway and improve cancer treatment development.
• ANGLE's DDR assay may offer a minimally invasive way to study DDR dependencies in tumors and monitor treatment responses, potentially leading to better patient outcomes.
• The DDR therapeutics market was valued at $5.9 billion in 2022 and is expected to grow to $10.4 billion by 2031 with a CAGR of 6.5%, driven by the demand for targeted therapies for drug-resistant cancers.

Negative

• None.

ANGLE signs agreement to tailor existing Parsortix-based DNA damage response assay for use in pharmaceutical R&D

GUILDFORD, SURREY / ACCESSWIRE / April 24, 2024 / ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology has signed a supplier agreement with the global biopharmaceutical company, AstraZeneca PLC, to develop and validate a methodology leveraging ANGLE's existing DNA damage response ("DDR") assay for the detection of micronuclei in CTCs as a measure of DDR.

Under the agreement, ANGLE will develop a novel methodology for CTC micronuclei detection based on its existing pKAP1 CTC-based DDR assay, which measures expression of a key protein in the DNA damage response. Assay development will take place in ANGLE's laboratories in Guildford, UK, and follows the Company's development and launch of two highly sensitive and specific DDR assays in 2023. The 6-month development phase is worth an initial £150,000 to ANGLE.

ANGLE's DDR assay has the potential to be used as a repeatable, minimally invasive means to better understand the DDR pathway to enable development of therapies capable of targeting tumour-specific DDR dependencies to preferentially kill cancer cells. The assay may also have the potential for monitoring treatment response to DDR therapies administered in combination with other cancer drugs.

ANGLE Chief Executive Officer, Andrew Newland, commented:
"This is ANGLE's second large pharma company agreement of 2024 as we look to drive a significant expansion of the pharma services business. It demonstrates the importance of CTC analysis and is a validation of ANGLE's Parsortix system. ANGLE is also working to expand its DDR work with other large pharma customers and continues to generate significant new customer interest through its business development activity."

ANGLE Chief Scientific Officer, Karen Miller commented:
"We are delighted that our expertise in CTC assay development continues to make great strides. With the increasing investigation of DNA damage response / PARP inhibitors, alone or in combination with chemotherapy or immunotherapy, there is a need for minimally invasive, robust and repeatable DDR assays. All the development work continues to add to the menu of assays owned by ANGLE that we can offer to other customers."

The DDR therapeutics market was estimated to be valued at US$5.9 billion in 2022 and is projected to reach US$10.4 billion by 2031 with a CAGR of 6.5%¹. This is expected to be driven by an increase in the use of combination therapy for the treatment of drug-resistant cancers and the need for novel targeted medicines for cancer treatment. Most cancers rely on the DDR pathway to a greater extent than healthy cells. Treating patients with a DDR inhibitor alongside another cancer drug helps to maximise DNA damage and selectively kill cancer cells. This provides a targeted approach to cancer treatment with the potential to improve patient outcomes across multiple tumour types.

1. www.globenewswire.com/en/news-release/2023/07/05/2699419/0/en/DNA-Repair-Drugs-Market-to-Grow-at-6-5-CAGR-Touching-US-10-4-Bn-by-2031-TMR-Study.html

For further information:

ANGLE plc	+44 (0) 1483 343434
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Berenberg (NOMAD and Corporate Broker) Toby Flaux, Ciaran Walsh, Milo Bonser	+44 (0) 20 3207 7800
FTI Consulting Simon Conway, Ciara Martin Matthew Ventimiglia (US)	+44 (0) 203 727 1000 +1 (212) 850 5624

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

For Research Use Only. Not for use in diagnostic procedures.

For Frequently Used Terms, please see the Company's website on https://angleplc.com/investor-relations/glossary/

Notes for editors

About ANGLE plc

ANGLE is a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology using a simple blood sample. ANGLE's FDA cleared and patent protected circulating tumour cell (CTC) harvesting technology known as the Parsortix^® PC1 System enables complete downstream analysis of the sample including whole cell imaging and proteomic analysis and full genomic and transcriptomic molecular analysis.

ANGLE's commercial businesses are focusing on diagnostic products and clinical services. Diagnostic products include the Parsortix^® system and associated consumables. The clinical services business is offered through ANGLE's GCP-compliant laboratories. Services include custom made assay development and clinical trial testing for pharma.

Over 90 peer-reviewed publications have demonstrated the performance of the Parsortix system. For more information, visit www.angleplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: ANGLE plc

View the original press release on accesswire.com

FAQ

What is the commercial agreement between ANGLE plc and AstraZeneca about?

ANGLE plc and AstraZeneca signed a supplier agreement to develop a methodology using ANGLE's DNA damage response assay for detecting micronuclei in circulating tumor cells.

Where will the development of the novel methodology take place?

The development of the methodology will occur in ANGLE's laboratories in Guildford, UK.

How much is the initial worth of the 6-month development phase of the agreement?

The initial worth of the 6-month development phase is £150,000.

What is the projected value of the DDR therapeutics market by 2031?

The DDR therapeutics market is projected to reach $10.4 billion by 2031 with a CAGR of 6.5%.

What drives the growth of the DDR therapeutics market?

The growth of the DDR therapeutics market is driven by the need for novel targeted medicines for cancer treatment.