ANGLE PLC (AIM:AGL, OTCQX:ANPCY) has highlighted a growing pipeline of work with major pharmaceutical and medical technology groups, saying talks are advancing on a series of high-profile contracts, even as revenues remain under pressure.
The Surrey-based company, which specialises in “liquid biopsies”, blood tests that can detect and analyse cancer cells, said it had completed projects with AstraZeneca and Eisai and has further discussions underway.
It also referenced its new tie-up with Myriad Genetics to adapt an existing cancer test from tissue samples to blood, which management described as a potentially transformational step.
Andrew Newland, ANGLE’s chief executive, said: “Our agreement ... marks a potentially transformational step towards the large-scale commercialisation of the Parsortix system, providing a pathway to CTCs being adopted into routine clinical use.”
The Parsortix system, ANGLE’s flagship product, isolates circulating tumour cells (CTCs), cancer cells that break away from a tumour and enter the bloodstream.
By analysing these cells alongside fragments of tumour DNA (ctDNA), doctors and drugmakers can track how cancers evolve, which treatments might work best, and when a therapy stops being effective.
Despite this scientific progress, revenue for the first half of 2025 fell to £0.8 million from £1.0 million a year earlier.
The company reported a loss of £9.3 million, compared with £7.7 million last year.
Management cited “challenging external conditions”, including uncertainty over US trade tariffs and reduced access to capital, for holding up customer projects.
Cash at the end of June stood at £5.3 million, with tax credit receipts expected to stretch funding into early 2026.
ANGLE said its growing menu of validated cancer assays and ongoing collaborations, including with the UK’s National Health Service, position it well for when market conditions improve.
"Our priority now is to capitalise fully on ongoing discussions with large pharma, large medtech, and major healthcare providers," CEO Newland said.
"Notwithstanding the continued challenging external conditions, we remain confident in ANGLE's ability to deliver long-term value, advancing cancer diagnostics and treatment worldwide."