Published research results have found another use for Angle’s (AIM:AGL) cancer detection system, Parsortix®, this morning’s statement revealed.
The London-listed liquid biopsy company told investors on Tuesday that researchers from the Edith Cowan University in Perth, Australia had used the device to assess patients with melanoma.
In clinical use, the researchers found they were able to sort 28 melanoma patients into high and low risk groups which they say could allow improved treatment decisions ‘taking into account disease status.’
The Parsortix system demonstrated superior results in comparison to alternative methods, yielding the highest recovery of circulating tumour cells (CTCs) and a lower white blood cell background.
Shares in Angle were trading 5.8% higher at 73p during Tuesday trading.
"This work clearly demonstrates the promising clinical utility of the Parsortix system for metastatic melanoma prognostication and monitoring treatment response,” said Elin Gray, Associate Professor, Melanoma Research Group, School of Medical and Health Sciencesat Edith Cowan University.
He added, “We now intend to progress our work with Parsortix to identify ways in which we can improve the treatment of melanoma patients."
Angle’s Founder and CEO said he believed the results showed another example of Parsortix’s customers developing new cancer types and applications for the device.
“Melanoma is an important opportunity for future use of Parsortix,” he commented.
On January 22, Angle unveiled preparation plans for a De Novo submission necessary for FDA approval of Parsortix which the company anticiapates to occur in the third quarter of 2020.
Broker finnCap predicts that FDA clearance will be “a watershed moment” that will catalyse further commercialisation and partnership deals for Angle.
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