In a comprehensive presentation at the Proactive One2One Investor Conference, ANGLE PLC's CEO, Andrew Newland, and CFO, Ian Griffiths, detailed the company's innovative approach to cancer diagnosis and treatment.
Newland emphasised ANGLE's breakthrough technology, the Parsortix system, a groundbreaking instrument designed for separating cancer cells from blood. This British-developed technology provides a viable alternative to traditional biopsies, especially useful as cancer evolves over time, making repeated tissue biopsies impractical.
ANGLE PLC has achieved a significant milestone with the only FDA clearance globally for harvesting cancer cells from blood for analysis, taking six and a half years. This clearance serves as a major credibility factor in discussions with potential customers.
Newland highlighted the company's successful commercialisation strategies, including worldwide distribution networks and partnerships with pharmaceutical companies. They are targeting the lucrative market of repeat biopsies, necessary for monitoring cancer progression, by offering a simpler, less invasive blood test. Their technology, already patented in major economic regions until 2034, can isolate cancer cells even in extremely low concentrations.
The company's revenue doubled in 2023, reaching $2.2 million, with expectations to triple in 2024. Their business model includes both product sales and service offerings to pharmaceutical companies. These services are critical for drug trials, allowing repeated analysis of cancer cells during treatment, providing valuable data that is currently unattainable through other means.
The CEO also unveiled the Parsortix cassette, a one-time use, microfluidic device, demonstrating their ability to capture living cancer cells for detailed analysis. This product, patent-protected and cost-effective to produce, can be sold for up to $300.
Moreover, ANGLE's breakthrough in analysing both living cancer cells and circulating tumor DNA presents a new frontier in personalised cancer treatment. This dual analysis approach could revolutionise how the effectiveness of cancer treatments is monitored and adjusted over time.
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