ANGLE PLC (AIM:AGL, OTCQX:ANPCY) shares jumped 30% following the announcement of a strategic partnership with AstraZeneca PLC (LSE:AZN) that aims to advance cancer drug development by enhancing the former's DNA damage response assay.
Specifically, the collaboration will focus on adapting ANGLE's existing Parsortix-based assay for identifying micronuclei in circulating tumour cells (CTCs), a crucial step in studying DNA damage responses.
Ultimately, the assay aims to provide a repeatable, minimally invasive tool for better understanding and targeting tumour-specific DNA repair mechanisms, which could lead to more effective cancer treatments.
Additionally, it holds promise for monitoring how well cancers respond to such therapies, especially when used alongside other treatments. This development could mark a significant step forward in personalized medicine for cancer treatment, reflecting both companies' dedication to innovation in healthcare.
The partnership was formalised through a supplier agreement where ANGLE will develop this innovative methodology at its lab in Surrey. The six-month development phase is worth £150,000 to the company.
In early afternoon trading the stock was up 3.75p at 16p.