StockMarketWire.com - ANGLE posts a loss of £3.9m for the year to the end of April - up from £1.2m a year ago.

Chairman Garth Selvey said: "We have made strong progress advancing our strategy this year through the validation of the Parsortix cell separation system by world class cancer centres. We have identified ovarian cancer for the first clinical application for the Parsortix system following a successful patient study with the Medical University of Vienna which demonstrated Parsortix's potential to identify ovarian cancer with high sensitivity and specificity where traditional techniques fail.

"In the coming year, we are well funded to focus on the development of research use sales, and advance a large scale study in ovarian cancer to establish Parsortix as a diagnostic tool to enable clinicians to choose the most appropriate treatment thereby improving patient outcomes."

Highlights

· First clinical application for Parsortix cell separation system determined in ovarian cancer following compelling 65-patient study published by the Medical University of Vienna demonstrating high sensitivity and specificity in detecting ovarian cancer and certain other women's cancers

· Key Opinion Leader platform strengthened with the addition of six further world-class cancer centres making a total of nine Key Opinion Leaders · Uniformly positive results published by five Key Opinion Leaders of performance of Parsortix system

· Initiation of first two corporate collaborations

· Commercial strategy on track with first sales for research use to commence in the current financial year

· Intellectual property further enhanced; second US patent granted and patents granted in China and Australia

· Continuing investment to advance and drive adoption of Parsortix − Financial position strengthened following successful fundraising of £8.2 million net of expenses

− Loss from continuing operations of £3.9 million (2014: £2.2 million) reflecting planned investment

− Cash balance at 30 April 2015 of £8.4 million (30 April 2014: £3.9 million)

Post year end highlights

· Prostate cancer 52-patient study published by Barts Cancer Institute indicating capture of cancer cells from Parsortix liquid biopsy in 100% of patients

· Eminent scientific advisors, Jim Reuben from MD Anderson Cancer Center and Daniel Danila from Memorial Sloan Kettering Cancer Center join Scientific Advisory Board



At 8:54am: [LON:AGL] Angle PLC share price was -6p at 87p



Story provided by StockMarketWire.com