LONDON (Alliance News) - Angle PLC shares spiked late Thursday afternoon after the company said its Partsortix system will be used in "ground-breaking" new cancer research.
Shares in Angle closed up 77% Thursday at 73.50 pence each.
The research, carried out at the University of Basel in Switzerland, could lead to a new way of treating cancer through the suppression of cancer metastasis.
Angle said the research carried out, using Parsortix, isolated circulating tumor cell clusters, allowing US Food & Drug Administration approved drugs to "dissociate highly metastatic circulating tumor cell clusters resulting in a near total elimination of metastasis in animal models".
Circulating tumor cell clusters is a group of cancer and other cells tethered together as a single mass.
"The ground-breaking circulating tumor cell cluster work undertaken over the last three years by the University of Basel, one of Angle's leading customers, highlights completely new clinical uses for the Parsortix system with the potential to play a central role in dramatically improving patient outcomes," said Founder & Chief Executive Officer Andrew Newland.
"This is a key potential application for Parsortix liquid biopsy once we receive FDA clearance. Our ultimate aim is for the Parsortix system to be routinely used for all cancer patients in the future."
The University of Basel is planning to commence a clinical trial in breast cancer in 2019 using the Parsortix system as a companion diagnostic to identify which patients have circulating tumor cell clusters and may respond to the identified drugs.
Angle (AGL)