Executive interview – Angle plc

Angle’s proprietary Parsortix cell separation platform can be used to detect and harvest circulating tumour cells (CTCs) from blood. With its FY16 results released on 28 July, Angle delivered revenues of £361k, which represents a commercial milestone for the first ever sale of Parsortix for research use. Recently, Angle has announced results from two clinical studies carried out by its KOL partners. The initial data show that Parsortix performs as well as or better than current standard of care in detecting early-stage prostate cancer and assessing its severity and could potentially replace invasive tissue biopsy in metastatic breast cancer. Parsortix’s potential third application is for triaging women with ovarian masses before surgery, with clinical trials running in the US and Europe. In May, the company announced that the Cancer Research UK Manchester Institute is adopting Parsortix for routine research use, which will provide recurring sales. Angle raised £9.6m (net) in May, which adds safety margin to reach profitability, in our view.