Guildford, United Kingdom

ANGLE is a specialist diagnostics company. Its proprietary Parsortix technology can capture and harvest very rare cells, including CTCs (circulating tumour cells), from a blood sample. The FDA approval for its clinical use to guide precision cancer care will open up further multiple commercial opportunities.

Investment Perspective

ANGLE’s investment case rests on where Parsortix’s position in mainstream cancer diagnostics eventually lands. The place of liquid biopsies is now established and, increasingly, the additional clinical value that CTC (circulating tumour cells) assays bring is becoming clear. Addressing the many, varied opportunities directly is challenging and time consuming, with numerous barriers to overcome. Management is creating industry awareness through its demonstration and acceleration activities, which should drive near- and medium-term revenues. Similarly, a progressively robust bank of clinical data across multiple common tumours is building credibility. We view the ability to perform ctDNA and CTC DNA analysis concurrently, from a single blood draw, on third-party NGS and PCR platforms as providing a major driver for adoption. Our DCF-based valuation of ANGLE is £174m, or 67p/share.

Market information

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Scaling the business to drive continued momentum
Lighthouse | 06 Jun 2024
Gathering momentum in Pharma Services
Update | 14 May 2024
Building content to drive widespread adoption
Update | 30 Jan 2024

Recent News

Result of open offer
21 Jun 2024
Parsortix and assays showcased at EACR 2024
11 Jun 2024
Publication of Circular
06 Jun 2024
Results of placing and subscription
05 Jun 2024