Last checked at 10 Jul 2008 07:00
| For Immediate Release | 10 July 2008 |
ANGLE plc
Parsortix world break-through
ANGLE plc ('ANGLE' or the 'Company'), the intellectual property and technology commercialisation company, is delighted to announce that its portfolio company Parsortix Inc ('Parsortix'), has achieved a world break-through by isolating foetal cells in maternal blood.
Pregnant women have a very small number of their baby's cells circulating in their blood. There are thought to be at most one foetal cell in 500 million maternal cells. Parsortix has developed a patent protected micro fluidic device which, when 1.5 ml of the mother's blood is flowed through the device, can for the first time capture these foetal cells for analysis.
Early definitive diagnosis for chromosomal abnormalities associated with Down's, Turner, and Klinefelter syndromes, as well as other disorders due to genetic abnormalities such as spina bifida, can help physicians better care for both the mother and the foetus during pregnancy. It also gives families earlier information with respect to the health of the unborn child and is increasingly important as the mother's average age increases.
At present, diagnosis is only possible through invasive procedures such as amniocentesis and chorionic villus sampling (CVS). These carry a risk to both the baby and the mother and as a result are limited only to high risk pregnancies. Parsortix's new device allows completely non-invasive testing of the unborn baby removing the risk and allowing diagnosis to be extended as a matter of course to all babies not just those known to be at high risk. The physical separation process used is simple and cost-effective. It requires no pre-treatment of the sample and no reagents.
Commercially, Parsortix's unique patented separation technique will reduce overall medical costs. In the high risk category, there are currently 375,000 tests per annum in the US market alone. With a non-invasive test, the market is likely to expand to cover lower risk patients with a theoretical maximum in the US market alone of 2.6 million tests per annum. Parsortix has the potential to secure a dominant position in this separation market. The current cost of the amniocentesis procedure in the US is around $1,200. The Parsortix technique is expected to reduce this cost by at least 60%.
Parsortix's successful isolation of foetal cells within maternal blood has been independently monitored by a world leader in pre-natal diagnostics, Professor Laird Jackson MD, Drexel University, Philadelphia US.
A number of multinationals have already expressed interest in Parsortix and ANGLE is now focused on completing development of the product and securing regulatory approval.
Commenting on the Parsortix break-through, ANGLE's Chief Executive, Andrew Newland said:
"To have successfully isolated foetal cells from maternal blood is a major breakthrough. We now look forward to commercialising the technology and delivering substantial value for ANGLE shareholders."
Prof Laird Jackson of Drexel University added:
"This is a major breakthrough and offers the potential for routine testing of the health of every baby at an early stage of development in the womb. This will allow all sorts of new treatments to protect the health of the unborn baby."
Enquiries:
| ANGLE plc | 01483 295830 |
| Andrew Newland, Chief Executive Ian Griffiths, Finance Director
| |
| Parsortix Inc Gary Evans, Chief Executive
| +1 (434) 825 4357 |
| Collins Stewart Europe Limited Mark Connelly, Stewart Wallace
| 0207 523 8350 |
| Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee
| 0207 653 0030 |
| Buchanan Communications Suzanne Brocks, James Strong
| 0207 466 5000 |
Notes to Editors
Founded in 1994, ANGLE is an international venture management company focusing on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients.
ANGLE is an active investor in high growth companies in the medical and technology sectors in both the UK and the US, taking operational responsibility for the companies as subsidiaries during the development phase and maintaining a substantial shareholding and close involvement during the growth phase. ANGLE has significant holdings in 10 portfolio companies developing proven technologies targeting substantial commercial markets. ANGLE is listed on AIM (AGL.L); further information can be found on www.ANGLEplc.com