Update: Funds for new clinical trials and more sales to KOL
Angle has raised £9.6m (net) via a private placing. This supports Angle’s focus on commercialising Parsortix, with the funds being applied to a range of clinical studies to demonstrate utility of the Parsortix system. Additionally, Angle announced that Cancer Research UK Manchester Institute is adopting Parsortix for routine research use, which will provide recurring sales. FY16 results in July will provide a trading update and more details on the R&D expansion strategy, likely to be scaled up with the benefit of the fund raising.ANGLE is a holding company. Through its subsidiares, Co. operates as a medical diagnostic company focusing on the development of products in the fields of cancer diagnostics and foetal health. Co. develops products for use in rare cell diagnostics that enable early identification of an individual's condition for the prevention, treatment, and monitoring of disease. Co.'s principal trading activity is undertaken in relation to the development and commercialization of the Parsortix cell separation system, with deployment in liquid biopsy (non-invasive cancer diagnostics).
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