Angle PLC Announces New Commercial Agreement with Large Pharma
ANGLE plc has announced a new commercial agreement with AstraZeneca to develop a Parsortix-based Androgen Receptor detection assay for prostate cancer studies, worth £550,000. The assay is expected to be completed by Q1 2025 and could provide significant revenue opportunities for the company. The Parsortix system will allow for minimally invasive assessment of the Androgen Receptor status, important in prostate cancer treatment. This agreement further validates ANGLE's technology and potential for long-term revenue growth.
Development of a new Parsortix-based Androgen Receptor detection assay for prostate cancer studies.
Potential long-term large-scale revenues for the company.
Minimally invasive assessment of Androgen Receptor status using the Parsortix system.
Validation of ANGLE's technology and potential for growth.
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ANGLE commissioned to develop a Parsortix-based Androgen Receptor detection assay for use in prostate cancer studies
GUILDFORD, SURREY / ACCESSWIRE / May 3, 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, is delighted to announce that it has signed a supplier agreement to develop a Parsortix-based Androgen Receptor1 (AR) detection assay for use in prostate cancer studies. The supplier agreement reported here is with AstraZeneca (LSE/STO/Nasdaq: AZN). This follows an earlier agreement to develop a methodology for CTC micronuclei detection using the Company's DNA Damage Response (DDR) assay, announced on 24 April 2024.
Under the terms of this agreement, worth £550,000 to ANGLE, the Company will develop a CTC-based AR assay. Assay development will take place in the ANGLE's UK laboratories, with project completion expected in Q1 2025. A successful development phase will demonstrate the importance of the Parsortix system in assessing the efficacy of prostate cancer therapeutics and offers the potential for long-term, ongoing business for the Company supporting clinical studies.
AR is a nuclear protein involved in cell growth and proliferation, cell cycle progression, protein synthesis, and cell death. The analysis of Parsortix® harvested CTCs using the Company's AR assay could enable longitudinal, minimally invasive assessment of AR status throughout clinical studies and during follow-up. There are more than 130 active, interventional oncology clinical studies in 30,000 participants, which include androgen receptor assessment, registered on clinicaltrials.gov.
ANGLE Chief Executive Officer, Andrew Newland, commented:
"This is further validation of ANGLE's Parsortix system which shows potential for long-term large-scale revenues in bringing innovative new cancer drugs to the market. We anticipate that success in this first phase of assay development may lead to much larger contracts for use of the assay in clinical trials."
ANGLE Chief Scientific Officer, Karen Miller commented:
"We are delighted our expertise is being put to use in the isolation, harvest, and profiling of CTCs for androgen receptor investigation with the potential for ANGLE's assays to be used in clinical trials. The new androgen receptor assay will also be an important addition to the menu of assays we can offer other customers."
1. Prostate cancer is the second most common cancer in men with 1.5 million new cases diagnosed globally each year and 5 million men living with prostate cancer (5-year prevalence). The androgen receptor plays a pivotal role in prostate cancer tumour growth and progression with anti-androgen therapy frequently given as first-line treatment. However, response is variable, and 20
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.
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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, associated consumables and assays. The clinical services business is offered through ANGLE's GCLP-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
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SOURCE: ANGLE plc
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