First custom CTC assay development contract
Lighthouse | 29 July 2021
Trinity Delta view: This first assay development contract marks another step in expanding ANGLE’s pharma services offering, one of four commercial revenue streams for the Parsortix system. This business line provides analysis of CTCs for clinical trials from ANGLE’s UK and US clinical laboratories. The new contract, coupled with the growing body of translational research demonstrating the utility of the Parsortix system in detecting novel drug targets expressed by CTCs as well as monitoring patient responses to treatment, provides important external endorsement of ANGLE’s technology and capabilities. Additional pharma services contracts, corporate partnerships, and development of new assays and LDTs (lab developed tests) will all contribute to commercial momentum, with two H221 catalysts anticipated to represent major inflection points. The potential FDA clearance of Parsortix as a Class II medical device for harvesting of CTCs for subsequent analysis in metastatic breast cancer could occur in H221, with top line results of the ovarian cancer clinical verification study expected in Q421. Our DCF-based model values ANGLE at £570m ($741m), or 244p/share.
29 July 2021
|Primary exchange||AIM London|
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.
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