LONDON (ShareCast) - Medical diagnostic device maker Angle has won European approval for a system used in the diagnosis and treatment of cancer patients.

Angle said regulators had authorized its Parsortix cell separation system for use as an in-vitro diagnostic device in the EU.

The system uses blood analysis to diagnose lung, prostate, breast and other types of cancer, potentially avoiding the need for surgery.

The company and medical experts now plan to do studies involving patients to determine how best to apply the technology.

There were 14m new cancer cases worldwide in 2012, up on the 12.7m cases in 2008, creating a potential worldwide market for Parsortix worth more than £8bn a year, Angle said.

Chief Executive Andrew Newland said: "This not only provides Angle with regulatory authorization for clinical sales in Europe, but also gives us a platform to explore the potential for key commercial relationships with major medical technology and pharmaceutical companies."

Shares rose 3.5p to 81p at 12:18 in London.

PW

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