Angle Regulatory News (AGL)

31 Jan 2007 07:02

Angle PLC31 January 2007 For Immediate Release 31 January 2007 ANGLE plc ('ANGLE' or 'the Company') NOVOCELLUS UPDATE ANGLE plc, the venture management and consulting company specialising in thecommercialisation of technology and the development of technology-basedindustry, is pleased to update shareholders on the progress of NovocellusLimited, one of its venture companies. Novocellus was established by ANGLE in 2004, under its Progeny(R) programmethrough a collaboration agreement with the University of York. The company iscommercialising a clinical diagnostic test developed by Professor Henry Leese atthe University of York (UoY), which it is anticipated will, for the first time,enable the selection of only the most viable pre-implantation human embryos foruse in in vitro fertilisation (IVF). Currently, the selection of embryos for transfer back to the uterus involves asubjective visual assessment of embryo quality and thus viability. Thisselection technique achieves modest pregnancy and live birth rates (c.22 percent.). In mitigation of the low 'success' rate, many embryologists feel itnecessary to transfer at least two embryos at a time. This practice results in asignificant percentage of multiple births and a corresponding and unacceptablyhigh incidence of perinatal mortality and serious birth defects, both majordrivers of the growing trend towards single embryo transfer(SET) It is estimated that about 900,000 fresh IVF cycles are performed worldwide eachyear and that this number is increasing at an estimated rate of 15 per cent. perannum. At this growth, the annual number of IVF cycles will increase to around1.3 million by 2010. It is estimated that the worldwide revenue opportunity forNovocellus' product is as much as $1 billion per annum. To prove its technology and develop a marketable product, Novocellus has beenundertaking a major clinical study. This retrospective clinical study, currentlytaking place in Leeds General Infirmary and St Mary's Hospital Manchester, beganin Spring 2006. Patient recruitment and throughput in both sites has been slowerthan had been hoped and to address these a third hospital, the Liverpool Women'sHospital, which is one of the UK's largest IVF centres, has now been formallyintroduced to the study programme. Novocellus has also faced challenges with the procurement of the Novocellusmedium used for the culturing of embryos in IVF treatment, which led to atemporary suspension of the study. These challenges have now been resolved andNovocellus is in advanced discussions with a leading global specialist supplierof IVF media, to supply the medium going forward. While the clinical study has not yet been completed, Novocellus has carried outa statistical analysis of the data gathered so far. Further progress with thestudy will be necessary for statistical significance, nevertheless the interimdata broadly confirms the findings of the initial pilot study: that amino acidprofiling ('AAP') is predictive of embryo viability and clinical pregnancy. Assuch it represents a further data point and adds to our confidence in AAP as adiagnostic technique. It is hoped that Novocellus' technology will improvecurrent IVF rates by at least a third which will facilitate the move to routinesingle embryo transfer and thereby the prevention of unwanted multiple births. The next step for Novocellus, assuming successful completion of the currentstudy, will be to demonstrate the effectiveness of AAP technology prospectivelyin a full clinical trial. This will take place in a single embryo transfer (SET)environment, most probably Scandinavia. This in turn would position Novocellusto deliver significant payments in 2008 from a licensing deal with a majormedical diagnostics provider, a number of whom have already expressed initialinterest in AAP and Novocellus. This announcement is made in conjunction with the interim results of ANGLE plc,which were also announced today. Bob Hanley, COO of Novocellus said: "We are delighted that the interim analysis provides further evidence of theeffectiveness of Novocellus' AAP technology to predict embryo viability. Thenext milestone will be completion of the current clinical study and initiationof the prospective clinical trial in SET" Andrew Newland, Chief Executive of ANGLE plc said: "Novocellus has a unique product with the potential to address a major marketneed. The sooner it is available in the market the better." For further information: ANGLE plc 01483 295830Andrew Newland, Chief ExecutiveJohn Holden, Director - Ventures Development Novocellus Ltd 07739 362433Bob Hanley, Chief Operating Officer Buchanan Communications 020 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to Editors Founded in 1994, ANGLE is an international venture management and consultingcompany focusing on the commercialisation of technology and the development oftechnology-based industry. ANGLE creates, develops and advises technologybusinesses on its own behalf and for its clients. ANGLE is listed on AIM (AGL.L)and operates from offices in the UK, the US and the Middle East. Furtherinformation can be found on www.ANGLEplc.com This information is provided by RNS The company news service from the London Stock Exchange