Report
Franc Gregori ...
  • Lala Gregorek
  • Philippa Gardner

Trinity Delta Lighthouse: ANGLE

Trinity Delta view: ANGLE’s focus is on progressing and growing the Pharma Services business, which has the potential to drive significant mid- and longer-term revenues through later-stage development as part of existing deals (depth), cross-selling (breadth), and new deals (halo). This a key element in widening adoption of Parsortix-based CTC analysis to support development of new therapies and potentially broaden the applicability of existing targeted drugs. Cancer mutations as potential biomarkers could guide targeted therapy at any stage from diagnosis to longitudinal monitoring, allowing minimally invasive and repeatable sampling, unlike tissue biopsy. Further confirmation that ANGLE’s assays can assess patient treatment response and identify patients likely to respond to a targeted therapy is another positive. Large pharma validation of its AR, DDR micronuclei, and HER2 CTC assays should help secure new Pharma Services contracts by providing customers with a broader menu of CTC assays across several cancers. Our ANGLE valuation is £155m, equivalent to 48p per share.
Underlying
ANGLE PLC

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).

Provider
Trinity Delta
Trinity Delta

We are experienced healthcare and life sciences analysts providing the highest quality service to companies in these sectors and to investors. We have expertise in the fields of the biotech, medtech , specialty pharma and consumer health sectors.

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Analysts
Franc Gregori

Lala Gregorek

Philippa Gardner

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