Angle Share News (AGL)

(Sharecast News) - Angle announced on Friday the successful completion of assay development projects for AstraZeneca and Eisai, further expanding its portfolio of liquid biopsy solutions and strengthening its position as a partner to the pharmaceutical industry in oncology drug development.

The AIM-traded company said it had completed the development of two Parsortix-based assays for AstraZeneca: an androgen receptor (AR) assay for prostate cancer and a DNA damage response (DDR) micronuclei assay for detecting DNA damage in circulating tumour cells (CTCs).

It said both assays had been approved for use by AstraZeneca and were currently being deployed to analyse patient samples.

Angle said the developments positioned it to support large-scale clinical trials and open new opportunities for further collaborations.

The AR and DDR assays would now be added to Angle's suite of validated tests offered through its clinical laboratory.

Angle noted the substantial market potential in both areas, with the AR therapeutic market forecast to reach $9.2bn by 2033 and the DDR market expected to grow from $8.2bn in 2024 to $30.3bn over the next decade.

Separately, Angle said it had completed a contract with Eisai related to a phase two pilot study of the HER2-targeting antibody-drug conjugate BB-1701 in breast cancer.

The study demonstrated that Angle's Parsortix-based HER2 assay could reliably assess dynamic changes in HER2 status over time - something not possible with conventional tissue biopsies.

Although Eisai had decided not to proceed further with BB-1701, Angle said it had established a strong relationship with the company and is exploring other areas of collaboration.

BlissBio, which now holds the development rights to BB-1701, had confirmed its intention to continue the programme, and Angle said it was seeking to engage with the company to support the next stage of development.

Angle said it was continuing to target expanding demand in the growing AR, DDR, and HER2 therapeutic markets, which support a wide range of targeted therapies and clinical trial applications.

"Successful completion of the AstraZeneca assay development projects is a key milestone for the company in progressing our aim for Parsortix-based CTC analysis to be widely adopted for new and existing drugs to identify the right drug for the right patient at the right time," said chief executive officer Andrew Newland.

"There is a clear business case for AstraZeneca and other large pharma to expand their markets for existing drugs by identifying patients expressing the target biomarker on CTCs, as biomarker status can change over time and impact response to treatment.

"With regards to Eisai, we are delighted with the results of the HER2 CTC analysis, in both its reproducibility and its ability to dynamically measure HER2 changes over time, which we believe makes it ideally suited for HER2 and HER2-ADC clinical trials."

Newland said there was "considerable evidence", including Angle's in-house studies, that demonstrated that HER2 status of patients could change over time, with HER2 positive CTCs being found in patients who were initially HER2 negative based on their tissue biopsy.

"Independent studies have shown that patients with HER2 positive CTCs can benefit from treatment with HER2 targeted treatment.

"This could open larger markets for HER2 drugs and improve outcomes for patients who would not otherwise receive HER2 treatment."

At 1327 GMT, shares in Angle were down 6.56% at 9.11p.

Reporting by Josh White for Sharecast.com.