Angle PLC Transfer of Lock-in Shares (0247Z)

TIDMAGL

RNS Number : 0247Z

Angle PLC

12 December 2017

 
 For immediate release    12 December 2017 
 

ANGLE plc ("the Company")

Transfer of Lock-in Shares

ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, announces that further to the announcement of 16 November 2017, finnCap and WG Partners have given their written consent to allow Covington to transfer the 4,579,169 Ordinary Shares subject to the Covington Lock-in Deed (the "Lock-in Shares") to Dermot Keane, an existing significant shareholder in the Company.

Dermot Keane has entered into an equivalent agreement to the Covington Lock-in Deed, pursuant to which he has agreed to not dispose of any interest in the Lock-in Shares for a period of 18 months from 16 November 2017, save for: prior written consent being received from finnCap and WG Partners; or to a connected person of Dermot Keane; or in acceptance of any takeover offer; or where required by law or pursuant to an intervening court order.

The transfer of the Lock-in Shares was agreed between Covington and Dermot Keane as an off-market transaction at a price of 36 pence per Lock-in Share.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"We are pleased that one of our significant shareholders has further demonstrated his long term support for ANGLE and agreed terms with Covington for the Lock-in Shares assisting them to address the near-term redemption obligations of the Covington Fund II."

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement entitled "Acquisition and Fundraising" released on 5 October 2017 unless the context requires otherwise.

For further information ANGLE:

 
 ANGLE plc                                 [phone] 
 Andrew Newland, Chief Executive 
  Ian Griffiths, Finance Director 
 finnCap Ltd (NOMAD and Joint 
  Broker) 
  Corporate Finance - Adrian 
  Hargrave, Simon Hicks, Kate 
  Bannatyne 
  Corporate Broking - Alice Lane, 
  Nikita Jain                              [phone] 
 WG Partners (Joint Broker) 
  Nigel Barnes, Nigel Birks, 
  Andrew Craig, Chris Lee                  [phone] 
 FTI Consulting 
  Simon Conway, Mo Noonan, Stephanie 
  Cuthbert                                   [phone] 
  Kimberly Ha (US)                           [phone] 
 

For Frequently Used Terms, please see the Company's website on http://www.angleplc.com/the-parsortix-system/glossary/

This announcement contains inside information.

Notes for editors

   About ANGLE plc     www.angleplc.com 

ANGLE is a world leading liquid biopsy company with sample to answer solutions. ANGLE's proven patent protected platforms include an epitope-independent circulating tumor cell (CTC) harvesting technology and a downstream analysis system for cost effective, highly multiplexed analysis of nucleic acids and proteins.

ANGLE's cell separation technology is called the Parsortix(TM) system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in Europe, the United States, Canada, India, China, Japan and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures live cells based on a combination of their size and compressibility. The Parsortix system has a CE Mark for Europe and FDA clearance is in process for the United States.

ANGLE's analysis technology for proteins and nucleic acids of all types is based on a patented flow through array technology. It provides for highly multiplexed, rapid and sensitive capture of targets from a wide variety of sample types. A proprietary chemistry allows for the capture and amplification of over 100 biomarkers simultaneously in a single reaction. These technologies can be combined to provide fully automated, sample to answer results in both centralized laboratory and point of use cartridge formats. It is ideal for measuring gene expression and other markers directly from Parsortix harvests.

ANGLE has established formal collaborations with world-class cancer centres. These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies. Details are available here http://www.angleplc.com/the-company/collaborators/

The analysis of the cells that can be harvested from patient blood with ANGLE's Parsortix system has the potential to help deliver personalised cancer care offering profound improvements in clinical and health economic outcomes in the treatment and diagnosis of various forms of cancer.

The global increase in cancer to a 1 in 3 lifetime incidence is set to drive a multi-billion dollar clinical market. The Parsortix system is designed to be compatible with existing major medtech analytical platforms and to act as a companion diagnostic for major pharma in helping to identify patients that will benefit from a particular drug and then monitoring the drug's effectiveness.

As well as cancer, the Parsortix technology has the potential for deployment with several other important cell types in the future. ANGLE biomarker analysis platforms are adaptable to measure protein and nucleic acid biomarkers across the full spectrum of disease applications.

ANGLE stock trades on the AIM market of the London Stock Exchange under the ticker symbol AGL and in New York on the OTC-QX under the ticker symbol ANPCY. For further information please visit: www.angleplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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December 12, 2017 02:00 ET (07:00 GMT)