Contract Extension

20 Oct 2005 07:00

Angle PLC20 October 2005 For Immediate Release 20 October 2005 ANGLE plc CONTRACT EXTENSION ANGLE plc the venture management and consulting company specialising in thecommercialisation of technology is pleased to announce that The Fairfax CountyEconomic Development Authority ("FCEDA") has extended its contract with ANGLETechnology Group US ('ANGLE Technology') through until June 2007. ANGLETechnology, headquartered in Virginia and formed in 1999, is the US technologydivision of ANGLE plc. The FCEDA promotes Fairfax County, Virginia, as aworld-class centre of commerce and trade and the technology hub of the eastcoast of the United States. The contract extension value is $0.47 million taking the total contract valuesince commencement in October 2001 to $1.92 million. Under the terms of thecontract, ANGLE Technology is to further develop, manage and provide fullon-going support to the BioAccelerator of Fairfax County, a business incubationprogram set-up in 2002 to develop early-stage biotechnology, biomedical andbioinformatics companies. The FCEDA created the BioAccelerator of Fairfax County to serve as a catalystfor the development of the bioscience industry in Northern Virginia. The role ofANGLE Technology ranges from business plan review, sales and marketing advice,and business mentoring, to recruitment activities and assistance with financingfor companies in the BioAccelerator. These companies represent convergingtechnologies that include bioscience, nanotechnology, environmental sciences,medical devices and software for biomedical research and healthcare. The ANGLE team also actively supports FCEDA marketing investment ininternational life science companies. Support for these companies focuses on theestablishment of US business operations and the development of targeted USmarketing activities. Andrew Newland, Chief Executive of ANGLE said: "Fairfax County is leading location in the United States for biomedicaltechnology. We are delighted that this important contract has again beenextended. In addition to its financial value, our work on the BioAcceleratorprovides us with a pipeline of opportunities for our expanding ventures businessin the Mid-Atlantic region of the US." For further information, please contact: ANGLE plc Tel: +44 (0)1483 295830Andrew Newland, Chief Executive Ian Griffiths, Finance Director Buchanan Communications Tel: +44 (0)20 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to Editors ANGLE plc - founded in 1994, ANGLE is an international venture management andconsulting company focusing on the commercialisation of technology and thedevelopment of technology-based industry. ANGLE creates, develops and advisestechnology businesses on its own behalf and for its clients. ANGLE operates fromoffices in the UK, the US and the Middle East. ANGLE is listed on AIM (AGL.L); further information can be found atwww.angleplc.com This information is provided by RNS The company news service from the London Stock Exchange