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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Gathering momentum in Pharma Services
Update | 14 May 2024
Building content to drive widespread adoption
Update | 30 Jan 2024
Moving in the right direction to capture growth
Lighthouse | 10 Nov 2023

Recent News

Study of ovarian cancer CTCs using Parsortix
16 May 2024
Second commercial agreement with AstraZeneca
03 May 2024
New commercial agreement with AstraZeneca
24 Apr 2024
US and EU patents for innovative CellKeep slide
22 Apr 2024