Angle PLC - Contract announcement with Eisai Inc.

Rhea-AI Summary

ANGLE plc (AIM:AGL OTCQX:ANPCY) has signed a contract with Eisai Inc. for a pilot study worth US $250,000 to provide CTC analysis with its Portrait HER2 assay to assess breast cancer patients' HER2 status in a Phase II study of the HER2 targeting antibody-drug conjugate (ADC) BB-1701, offering potential for multiple large-scale follow-up studies. The global HER2+ breast cancer ADC market is predicted to reach US $3.3 billion per annum by 2030, and ANGLE's Portrait HER2 assay enables accurate stratification of patient populations throughout the treatment pathway. The company's CEO, Andrew Newland, highlighted the potential of the study for major expansion of this line of business going forward.

Positive

• ANGLE plc has secured a contract with a global pharmaceutical company, Eisai Inc., for a pilot study worth US $250,000.
• The company's Portrait HER2 assay offers potential for multiple large-scale follow-up studies and enables accurate stratification of patient populations throughout the treatment pathway.
• The global HER2+ breast cancer ADC market is predicted to reach US $3.3 billion per annum by 2030.

Negative

• None.

Pilot study for ANGLE's Portrait HER2 assay in Phase II study of HER2 targeting antibody-drug conjugate, BB-1701

GUILDFORD, SURREY / ACCESSWIRE / January 2, 2024 / ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) diagnostic solutions for use in research, drug development and clinical oncology, is delighted to announce that it has signed a contract with the global pharmaceutical company, Eisai Inc. ("Eisai").

Under the agreement, in a pilot study worth US $250,000 to ANGLE, ANGLE will provide CTC analysis with its Portrait HER2 assay to assess breast cancer patients' HER2 (human epidermal growth factor receptor 2) status in a Phase II study of the HER2 targeting antibody-drug conjugate (ADC) BB-1701. Success in the pilot study offers the potential for multiple large scale follow-up studies.

ANGLE's Portrait HER2 assay enables quantitative assessment of both HER2 protein expression (via IF) and HER2/neu gene amplification (via FISH) to identify patients who could benefit from anti-HER2 ADC treatment. HER2-low breast cancer accounts for 55% of all breast cancer cases with analysts predicting that the global HER2+ breast cancer ADC market will reach US $3.3 billion per annum by 2030. Because of market expansion into HER2-low patients, ANGLE has developed a quantitative HER2 assay to enable accurate stratification of patient populations throughout the treatment pathway given HER2 status can change over time.

ANGLE Chief Executive Officer, Andrew Newland, commented:

"The use of CTC biomarkers in clinical trials is a rapidly growing field enabling longitudinal monitoring of genomic, transcriptomic and proteomic changes. ANGLE's Portrait HER2 assay provides a way to evaluate HER2 status in patients where a tissue biopsy at the metastatic site either fails or is not feasible. We are delighted that Eisai is utilising our new HER2 assay for this study and believe that a successful pilot study will lead the way to major expansion of this line of our business going forward."

For further information:

ANGLE plc	+44 (0) 1483 343434
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Berenberg (NOMAD and Joint 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) diagnostic 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 contract ANGLE plc has signed with Eisai Inc.?

ANGLE plc has signed a contract with Eisai Inc. for a pilot study worth US $250,000 to provide CTC analysis with its Portrait HER2 assay to assess breast cancer patients' HER2 status in a Phase II study of the HER2 targeting antibody-drug conjugate (ADC) BB-1701.

What is the global market prediction for the HER2+ breast cancer ADC market by 2030?

Analysts predict that the global HER2+ breast cancer ADC market will reach US $3.3 billion per annum by 2030.

What does ANGLE's Portrait HER2 assay enable?

ANGLE's Portrait HER2 assay enables accurate stratification of patient populations throughout the treatment pathway.