Angle PLC Announces Results for the Year Ended 31 December 2022
ACCESS Newswire · ANGLE plc

In This Article:

Preliminary Results for the year ended 31 December 2022

FDA CLEARANCE A MAJOR BREAKTHROUGH FOR PARSORTIX LIQUID BIOPS

Parsortix system substantially out-performs standard of care for ovarian cancer diagnosis

Prostate cancer partnership signed with Solaris Health

Pipeline of opportunities growing strongly

GUILDFORD, SURREY / ACCESSWIRE / April 21, 2023 / ANGLE plc (OTCQX:ANPCY)(AIM:AGL), a world-leading liquid biopsy company, today announces audited preliminary results for the year ended 31 December 2022.

2022 was a breakthrough year for ANGLE, with both FDA clearance and excellent results from the ovarian cancer study. These achievements have placed ANGLE in a strong position to play a leading role in the emerging liquid biopsy market for personalised cancer care and is reflected in strong growth in unaudited revenues in Q1 2023 year-on-year.

Operational Highlights

Products

· FDA De Novo clearance received for the Parsortix® PC1 Clinical System for its intended use with metastatic breast cancer (MBC) patients

- first ever FDA product clearance to harvest intact cancer cells from a patient blood sample for subsequent user-validated analysis
- multiple global distribution agreements secured to support commercial roll-out

Pharma services

· Increased pharma industry engagement post FDA clearance

- repeat contract, worth up to $1.2 million, from large-scale pharma customer
- assay development contract successfully delivers DNA Damage Repair (DDR) assay
- ISO 15189 accreditation received for the United States laboratory

Clinical uses

· Ovarian cancer

- excellent headline results from ovarian study with ROC-AUC 95.4%
- results demonstrate clinical validity employing molecular analysis of cancer cells captured using the Parsortix system in a difficult to diagnose real-world setting

· Prostate cancer

- partnership established with Solaris Health, a major United States urology group to evaluate the Parsortix system in prostate cancer
- clinical study now underway and expected to complete during 2023

Financial Highlights

· Revenue £1.0 million (2021: £1.0 million) as previously communicated

· Loss for the year £21.7 million reflecting planned investment (2021: loss £15.0 million)

· Fundraising from institutional investors, including existing and new institutional investors, raising gross proceeds of £20.1 million (£18.9 million net of expenses)

· Cash and cash equivalents at 31 December 2022 of £31.9 million (2021: £31.8 million) with R&D Tax Credits due at 31 December 2022 of £2.8 million (2021: £4.5 million)