Angle Share Discussion Threads

[gooosed] 12/7/2024 13:33

jelenko - thanks for the feedback.

[jelenko] 12/7/2024 13:19

Timbo,

Well done on either your diligent notetaking or superb memory! Worth adding that when pressed on achieving the £6.7m revenue this year, both Ian and Andrew were confident on that front although they pointed out that the number was a consensus analysts figure since the company does not make financial forecasts.
Andrew also commented that he believed going forward they would be doubling and trebling future annual revenues.
Ian is normally a bit guarded, glum even regarding numbers but this time he seemed positive on that front.

[bobbie121] 12/7/2024 11:42

Many thanks Timbo

[gooosed] 12/7/2024 11:10

timbo003 - many thanks, much appreciated.

[timbo003] 12/7/2024 10:56

>>>> Soletrader, Andrew got quite excitable and animated when he came to that bit (even more so than usual)!

[timbo003] 12/7/2024 10:49

>>>>Goosed yes, I brought that up during the Q&As. Angle have looked at this, there are some issues with the thermofisher equipment (not the Parsortix) and it may not be as good as it is made out to be. Angle have engaged with Thermofisher who have assured us it's a one off issue, but it isn't, so we are still trying to evaluate the best way forward, what we would really like is for Thermo to pay us to sort it out.

[5oletrader] 12/7/2024 10:19

@Tim - you reaffirm posts #25554 & #25563 by saying "Sequencing of cancer cells to look for mutations which have targeted therapy is a VERY BIG opportunity".-Note worthy as:• Oncologists are increasingly able to select therapies based on the specific DNA mutations identified in a patient's tumour. HOWEVER, many patients FAIL to respond to targeted treatment or do not have a sustained response. That may be, in part, because key INFORMATION about the biology of the tumour is MISSING from LOOKING at the DNA alone!!!ANGLE and the capture of Live CTCs allows:• The study of CTCs to LOOK BEYOND the genome at complete DNA, RNA, and protein expression analysis for genomic, transcriptomic, and proteomic research.-"Piecing it together"Consider widely available techniques. The CTCs harvested by the Parsortix system CAN be analysed using EXISTING TECHNIQUES already established for tissue biopsy and cell analysis including:IMAGING assays• Cytopathology• Immunofluorescence (IF)MOLECULAR assays• Fluorescent In Situ Hybridisation (FISH)• ?Polymerase Chain Reaction (PCR)• ?Next Generation Sequencing (NGS) and Third Generation Sequencing (TGS)• ?RNA sequencing (RNA-seq)• ?Whole Genome Amplification (WGA)• ?Whole Exome Sequencing (WES)-ANGLEs future is 'Content' & the VERY BIG opportunity In Molecular assays. Note - ANGLE 'IS DEVELOPING' numerous assays for the molecular analysis of CTCs. These include:• Sample-to-answer solution for parallel analysis of CTCs and ctDNA• ?Digital PCR pan cancer assay• ?NGS pan cancer assay• ?Custom assays and panels• ?Single cell picking workflow-I already expressed a 'thesis' on short term numbers.All going well - ANGLEs distributors will be very busy in future.ATB

[havinthelasttoast] 12/7/2024 10:01

Placing again ?

[whyisthistaking50long] 12/7/2024 09:30

Thank you Timbo for taking the time to write and post this - much appreciated

[gooosed] 12/7/2024 09:30

timbo003 - thanks for the feedback.

Was there any mention of the work being done with Thermo-Fisher which if memory serves, you mentioned back in January ?

[tratante] 12/7/2024 09:24

Many thanks for taking the trouble to do this report

[timbo003] 12/7/2024 09:02

See below a few notes from Yesteday's AGM which I think covers the most important topics discussed, I might of missed out a few points, but to keep expeditious I have opted to post it as is.


Pharma Services

Research suggests that the average success rate of phase II (proof of Concept) clinical trials increases from about 28% to about 46% when a biomarker is involved with patient selection, so there is a lot of interest from Pharmas to use appropriate biomarkers when designing clinical studies.

Angle’s strategy is to have the pharma customer pay all development costs if they require a new biomarker assay based on Parsortix. Once developed the assay belongs to Angle and not the Pharma customer. The ideal strategy with a new partner is to go for depth, breadth and Halo (see below)

* Depth: once contracted to develop a parsortix assay, Angle look to employ the assay in all stages of clinical development, from Phase I to Phase IV.
* Breadth: seek opportunities to develop other Parsortix based assays for other drugs in the Pharma’s oncology portfolio.
* Halo: Leverage relationship with (named) Pharma customer to attract new Pharma customers.

Currently the emphasis is on protein assays, that is important and you can only do that with intact cells (biopsy or CTCs) – you cannot do this with conventional liquid biopsy (fragments of dead cells). However, protein assay is only the start, the really big opportunity will be when we get into molecular analysis, doing DNA and in particular RNA sequencing – you cannot do RNA analysis on ctDNA from liquid biopsies. Sequencing of cancer cells to look for mutations which have targeted therapy is a very big opportunity. There is a lot of Pharma investment going into that.


Eisai

The current work focuses analysing CTCs in a small clinical trial using Eisai’s new HER2 ADC drug (£3K per blood sample analysed) , if successful this could lead to further Phase II and Phase III studies. Eisai have stated from the onset of the project that if the clinical program is successful they intend to licence and market the product with a companion diagnostic (i.e. parsortix based HER2 analysis on CTCs). This could ultimately lead to recurring revenues of between £20m and £100m/year to Angle.

Astra Zeneca

Two projects with AZ

* Parsortix based DDR (DNA Damage Response) assay.

DDR inhibitors are a new class of oncology drugs being investigated by numerous Pharmas including AZ

* Parsortix based Androgen Receptor assay

Discussions with AZ had been taking place over a number of years, contract agreed in broad terms, at the last minute AZ threw a curved ball and requested that the contract was arranged through Scientist.com, Scientist.com conducted extensive due diligence on Angle on behalf of AZ, however when it came to finalising the contract the terms and conditions were unacceptable to Angle, these stated that AZ would own the assay, this was unacceptable and Angle refused to sign, Scientist.com went back to AZ and came back with a new contract where Angle would own the assay with AZ bearing all costs for the development.

Scientist.com have many large Pharma clients (see www.scientist.com), and now Angle is on their books as an approved supplier which bodes well for the future.

In addition to Eisai and AZ there are ongoing contracts/collaborations with biotech customers: Artois, Cresendo, Immatics and Jubilant

Angle are also currently in discussions with 11 pharma / biotech customers (6 of them are house hold names) and hope to add one or possibly two of these to the list of customers this year, the plan is to get about 20 such customers signed up.

Recent Placing and open offer:

The fund raising environment at the time when fund raising discussions were taking place were fairly grim and share prices in the sector depressed. Many OEIC funds have been forced to make redemptions depressing share prices of their underlying investments and the amount of available funds available for OEICs to invest. For this round some institutional investors who would normally have participated in the funding roadshow didn’t want to cross the wall to be taken inside. Yet despite this situation the placing was oversubscribed whilst offering a relatively small discount.

Many existing holders participated in the funding round (the placing or open offer), 35% (approx.) of the funds were raised from US investors. The Angle BOD were pleased with the (small) discount achieved with the placing, but disappointed at the market’s reaction to the announcement with the share price trading below the placing price which meant a low uptake with the open offer.

One shareholder made the point that if Angle had made it clear in the RNS announcements (and the open offer document) that the placing was oversubscribed, it would probably have resulted in a better market reaction and a greater demand in the open offer (Good point I thought), Ian said they had never commented on this in previous announcements (but they don’t normally have open offers to accompany placings do they?). A couple of shareholders stated that they ducked the open offer as they didn’t want to pay 15p when they could buy in the market at 14p or thereabouts. I offered the suggestion of including a few out of the money warrants with the new shares, but Andrew said they had wanted to to keep the fund raise as Vanilla as possible.

CellKeep

There was a question on CellKeep. Andrew managed to produce one from his brief case which he showed us. It sounds like there has been potential interest in commercialisation, although it might require modifications for other applications (such as for CF) where the volume of fluid may be greater or smaller than the volume used for Parsortix samples (0.2ml) and I got the impression that this was not a top priority

Product Business

Selling Parsortix, consumables and (Portrait) assays to Hospitals and Universities remains a very important part of the overall commercial strategy as it provides additional incentive for pharma to adopt a companion diagnostic approach for their new drug developments, having an assay method close to hand at the hospital/near the patients makes going down the companion diagnostic route a more obvious choice for Pharma partners.

[760il] 12/7/2024 08:34

TomboyWhat price the share price was trading when they offered you the placing price?

[boris cobaka] 12/7/2024 00:28

I think many are looking forward to 'timbo's nuggets'

Interestingly 'biopharma' broke out today after about a 2 1/2yr sideways churn.

[atmysignal] 11/7/2024 23:38

Business update was the wording used. A recap is always expected, but a business update is more detailed and is due according to the rns

[bobbie121] 11/7/2024 17:14

Thanks Timbo003

[gooosed] 11/7/2024 16:48

timbo003 - thanks for that & look forward to your summary.

[timbo003] 11/7/2024 16:21

>>>>bobble, it was more of a recap than an update. They are restricted in what they can divulge until August 4th (SEC regulations). The meeting was attended by about 12 shareholders, Ian whizzed through the formal bits and then Andrew gave a presentation which contained a number of familiar slides, plenty of time for questions during and after the presentation. Despite the SEC imposed restrictions, there were a few nuggets that came out which I will try to summarise this evening (or tomorrow)

[timbo003] 11/7/2024 16:21

Repeat post

[bobbie121] 11/7/2024 15:04

Any news on the business update after the AGM today?

[5oletrader] 11/7/2024 10:41

PS - I should of mentioned this too:• Illumina's technology is responsible for generating more than '90%' of the WORLDs SEQUENCING DATA. (Let that sink in)Https://sbir.cancer.gov/portfolio/success-stories/illumina-@Bones - with respect you should 'know' the answer. I think you 'are missing the point' I was attempting to make:• As a global LEADER in genomics, they continually strive to offer solutions that are not only innovative, but also accessible and always reliable. ILLUMINA PARTNERSHIPS help advance genomics in numerous ways, from expanding access to next-generation sequencing (NGS) to pioneering new applications and technologies, providing funding for innovative startups, and more. Some of existing partnerships include:• Roche• Bristol-Myers Squibb, Merck, Kura, & Myriad• Loxo OncologyAnd moreHttps://www.illumina.com/company/doing-business-with-illumina/channel-partners-partnerships/partnerships.html-Illumina maintain a minority share of 14.5% in GRAIL. Their product is 'NOT' even FDA approved nor is there any solid evidence it's beneficial in large scale testing?-My point - Illumina are overtly willing to:• Partner• Provide funding• Be share holders in other companies -ANGLE will release an NGS assay and I 'suspect' Illumina will help them get over the line. Longer term - 'when' it becomes part of routine care, I 'suspect' Illumina will want want a slice of the pie - especially when the 'Value of global DNA sequencing market in 2023' was $12.4BILLION.

[atmysignal] 11/7/2024 07:27

Over 12 million shares traded in 4 days

[atmysignal] 11/7/2024 07:24

Chart says otherwise

[bones698] 10/7/2024 20:59

ST is that a competing tech? Not many details on what they do but did notice the comment about fuidic tests an d consumables which seems aimed towards what parsortix is, or is it just another tech to accompany their own system tia