Angle inks deal with AstraZeneca
By Josh White
Date: Wednesday 24 Apr 2024
(Sharecast News) - Liquid biopsy specialist Angle announced a supplier agreement with AstraZeneca on Wednesday to develop and validate a methodology using Angle's existing DNA damage response (DDR) assay for the detection of micronuclei in circulating tumour cells (CTCs) as a measure of DDR.
The AIM-traded firm said that under the agreement, it would develop a novel methodology for detecting CTC micronuclei based on its pKAP1 CTC-based DDR assay.
It said the assay, which measures the expression of a key protein in the DNA damage response, would undergo development in Angle's laboratories in Guildford.
The initiative followed the successful development and launch of two highly sensitive and specific DDR assays by the company in 2023.
It said the initial development phase, spanning six months, carried a value of £0.15m for Angle.
"This is Angle's second large pharma company agreement of 2024 as we look to drive a significant expansion of the pharma services business," said chief executive officer Andrew Newland.
"It demonstrates the importance of CTC analysis and is a validation of Angle's Parsortix system.
"Angle is also working to expand its DDR work with other large pharma customers and continues to generate significant new customer interest through its business development activity."
At 1316 BST, shares in Angle were up 32.16% at 16.19p.
Reporting by Josh White for Sharecast.com.
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