28 September 2011 – validation update
It is pleasing to report that ANGLE, which we only recommended two weeks ago at 29.75p, has announced the validation of its Parsortix patented cell separation device which can capture cancer cells added to blood. Use of the separation device has an immediate market application for research purposes and ANGLE has already started discussions with several of the world’s leading cancer research institutes and there is strong interest in such a product. Sales for this could therefore be achieved as soon as the second half of 2012. Clearly, these is also a major opportunity to sell the product into major clinical markets once the relevant approvals have been received from the US FDA and European authorities. The market for such a product is expected to be in excess of US$4bn in the US alone. The prospects for the group are clearly very exciting on the back of this news and we upgrade our recommendation from speculative buy to BUY