Angle PLC Announces Agreement with Recursion Pharmaceuticals
Rhea-AI Summary
ANGLE plc (AIM:AGL)(OTCQX:ANPCY) has signed an agreement with Recursion Pharmaceuticals for a pilot study using ANGLE's Parsortix CTC analysis. The study is fully funded, with potential for larger follow-on contracts if successful. This marks ANGLE's fourth pharma agreement in 2024, expanding its large pharma services business. Recursion, a clinical-stage TechBio company, has partnerships with multiple leading large pharma companies. While the initial study is modest in size, it could lead to significant opportunities. The agreement's details remain confidential between the parties.
Positive
- Signed agreement with Recursion Pharmaceuticals for a pilot study
- Fully funded pilot study with potential for larger follow-on contracts
- Fourth pharma agreement in 2024, expanding large pharma services business
- Potential for significant opportunities if pilot study is successful
Negative
- Initial study is modest in size
News Market Reaction
On the day this news was published, ANPCY gained 24.12%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
New pharma agreement for Parsortix CTC analysis
GUILDFORD, SURREY / ACCESSWIRE / September 19, 2024 / ANGLE plc (AIM:AGL)(OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, is pleased to announce that it has signed an agreement with Recursion Pharmaceuticals, Inc. ("Recursion"), a leading clinical stage TechBio company decoding biology to radically improve lives.
The agreement is being initiated with a fully funded pilot study. Further details of the agreement are confidential between the parties.
ANGLE Chief Executive, Andrew Newland, commented:
"Whilst the study is modest in size during the pilot phase, there is the potential for larger follow-on contracts in the event of a successful pilot study. Recursion has partnerships with multiple leading large pharma companies and this agreement, ANGLE's fourth for 2024, further builds on the expansion of our large pharma services business."
For further information:
ANGLE plc | +44 (0) 1483 343434 |
Andrew Newland, Chief Executive |
|
Berenberg (NOMAD and Broker) | +44 (0) 20 3207 7800 |
FTI Consulting |
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For Frequently Used Terms, please see the Company's website on https://angleplc.com/investor-relations/glossary/
Notes for editors
About ANGLE plc
ANGLE is a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology using a simple blood sample. ANGLE's FDA cleared and patent protected circulating tumour cell (CTC) harvesting technology known as the Parsortix® PC1 System enables complete downstream analysis of the sample including whole cell imaging and proteomic analysis and full genomic and transcriptomic molecular analysis.
ANGLE's commercial businesses are focusing on diagnostic products and clinical services. Diagnostic products include the Parsortix® system, associated consumables and assays. The clinical services business is offered through ANGLE's GCLP-compliant laboratories. Services include custom made assay development and clinical trial testing for pharma.
Over 90 peer-reviewed publications have demonstrated the performance of the Parsortix system. For more information, visit www.angleplc.com
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SOURCE: ANGLE plc
View the original press release on accesswire.com
FAQ
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