LONDON (ShareCast) - (ShareCast News) - Liquid biopsy company Angle reported a rise in revenues but widening losses in its unaudited on Thursday, as well as publishing positive results from studies which it said indicated its 'Parsortix' system could potentially detect ovarian cancer.
Revenues improves to £0.5m from £0.4m year-on-year in the 12 months to 30 April, with the company's cash balance rising to £5.5m from £3.8m.

The board said fundraising from a number of "major" institutional investors also helped to raise £10.2m.

It did see losses widen, however, to £6.4m from £5.1m in the prior year, which the board put down to investment into clinical evidence through patent studies, as well as the costs of FDA clearance in the US and investment into marketing Parsortix.

Angle also reported that it had received "positive results" from studies on 400 patients in the US and Europe, indicating the potential for a test, based on Parsortix, to detect ovarian cancer in a pre-surgery setting in women with high-risk pelvic masses.

"Angle has made significant progress in its strategy towards commercialisation of Parsortix," said the company's non-executive chairman Garth Selvey.

"Importantly, it recently announced positive results from two independent studies that highlighted the potential of the Parsortix system to facilitate the detection of ovarian cancer pre-surgery in women with high risk pelvic masses."

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