Angle wins additional contract with large-scale pharma company

Angle said on Wednesday that its customer, which has numerous cancer drugs under development, had selected its Parsortix system to undertake longitudinal monitoring of patients with certain unresectable solid tumours in a new Phase Ib dose-escalation study using its investigational drug in combination with immuno-oncology agents.

The AIM-listed firm stated the additional contract was expected to be worth up to $1.2m over a multi-year period.

Angle chief executive Andrew Newland said: "The additional contract from our first large-scale pharma customer, as well as ongoing discussions with multiple potential new customers, validates Angle's belief that longitudinal monitoring of CTCs is a highly attractive proposition for the pharma industry looking for new insights in cancer drug trials.

"We are very pleased with the increasing levels of interest from pharma companies in our CTC analysis services following FDA clearance of the Parsortix system and look forward to announcing further progress on the expansion of this important business area for Angle in due course."

As of 1025 BST, Angle shares were down 1.08% at 92.0p.

Reporting by Iain Gilbert at Sharecast.com