REG - Angle PLC - Appointment of Non-Executive Director

AngleAnnouncement

19/01/2023 07:00

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RNS Number : 1763N  Angle PLC  19 January 2023

 For immediate release  19 January 2023

 

ANGLE plc ("the Company")

 

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

 

Joseph Eid M.D., is a US certified medical oncologist with extensive
experience of the use of biomarkers in clinical trials and as companion
diagnostics

 

Previous roles include senior positions in oncology at Bristol Myers Squibb,
Merck & Co. and Hoffman-La Roche

 

ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, is
delighted to announce that Joseph (Joe) Eid M.D. has been appointed as a
Non-Executive Director of the Company, with effect from 19 January 2023.

 

Joe is a qualified physician, board certified in medical oncology,
haematology, and internal medicine.  He is a highly experienced
pharmaceutical industry executive with over 25 years of proven expertise in
people and portfolio management, planning, designing, and executing Phase I to
IV clinical trials and building and managing clinical and medical affairs
teams and strategies. He has successfully designed and implemented clinical
development, medical affairs, and life cycle management plans for
pharmaceutical products including cytotoxic agents, monoclonal antibodies,
immuno-oncology agents, antibody-drug conjugates, and CAR-T Cell therapies.

 

Joe most recently served as Chief Medical Officer and Head of Global Drug
Development for Princeton, New Jersey based Luzsana Biotechnology (a wholly
owned subsidiary of Jiangsu Hengrui Pharmaceutical). Importantly, his previous
experience includes senior positions in clinical development and medical
affairs at Bristol Myers Squibb, Merck & Co. and Hoffman-La Roche.

 

Whilst at Merck, Joe led the global Keytruda(®) (pembrolizumab, MK-3475)
first-in-human strategy, including oversight of the clinical, regulatory, and
manufacturing planning and execution and development of the PD-L1 biomarker
strategy on tissue biopsy, which led to a first-in-class anti-PD-1 BLA filing
and approval in the US.

 

Joseph Eid M.D., commented:

"I believe that ANGLE's Parsortix technology and unique liquid biopsy approach
has enormous potential both in oncology drug development and in the clinical
setting. I look forward to leveraging my extensive experience of the
development and use of biomarkers in oncology to drive forward the Company's
strategy and to using my network of pharma industry, clinical and academic
thought leaders to accelerate the Company's commercial development."

 

ANGLE Chairman, Garth Selvey, added:

"We are delighted that Joe has agreed to join the ANGLE Board. Joe brings
valuable knowledge and experience in oncology drug development and the use of
biomarkers in the clinical trials process and as companion diagnostics. This
is a key focus for the Company's pharma services business and will be of
enormous benefit going forward."

 

Other than as disclosed below, there are no further disclosures to be made in
connection with Joseph Emile Eid (age 55) in accordance with AIM Rule 17 and
paragraph (g) of Schedule Two of the AIM Rules for Companies:

 

 Current                              Previous
 Joseph Eid Biopharma Consulting LLC  Luzsana Biotechnology, Inc
 Luminary Therapeutics, Inc           Bristol Myers Squibb

 

For further information:

 

 ANGLE plc                                   +44 (0) 1483 343434
 Andrew Newland, Chief Executive

 Ian Griffiths, Finance Director

 Andrew Holder, Head of Investor Relations

 Berenberg (NOMAD and Joint Broker)          +44 (0) 20 3207 7800

 Toby Flaux, Ciaran Walsh, Milo Bonser

 Jefferies (Joint Broker)                    +44 (0) 20 7029 8000

 Thomas Bective, Shaam Vora

 FTI Consulting

 Simon Conway, Ciara Martin                  +44 (0) 203 727 1000

 Matthew Ventimiglia (US)                    +1 (212) 850 5624

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the EU Market Abuse
Regulation (596/2014). Upon the publication of this announcement via a
regulatory information service, this information is considered to be in the
public domain.

 

For Frequently Used Terms, please see the Company's website on
https://angleplc.com/investor-relations/glossary/
(https://angleplc.com/investor-relations/glossary/)

 

Notes for editors

 

About ANGLE plc www.angleplc.com (http://www.angleplc.com)

ANGLE is a world leading liquid biopsy company with sample-to-answer
solutions. ANGLE's proven patent protected circulating tumor cell (CTC)
harvesting technology is known as the Parsortix(®) system.

 

ANGLE's Parsortix(®) system is FDA cleared for its intended use in metastatic
breast cancer and is currently the first and only FDA cleared medical device
to harvest intact circulating cancer cells from blood.

 

Intended use

The Parsortix(®) PC1 system is an in vitro diagnostic device intended to
enrich circulating tumor cells (CTCs) from peripheral blood collected in
K(2)EDTA tubes from patients diagnosed with metastatic breast cancer. The
system employs a microfluidic chamber (a Parsortix cell separation cassette)
to capture cells of a certain size and deformability from the population of
cells present in blood. The cells retained in the cassette are harvested by
the Parsortix PC1 system for use in subsequent downstream assays. The end user
is responsible for the validation of any downstream assay. The standalone
device, as indicated, does not identify, enumerate or characterize CTCs and
cannot be used to make any diagnostic/prognostic claims for CTCs, including
monitoring indications or as an aid in any disease management and/or treatment
decisions.

 

The Parsortix system enables a liquid biopsy (a simple blood test) to be used
to provide the circulating metastatic breast cancer cells to the user in a
format suitable for multiple types of downstream analyses. The system is based
on a microfluidic device that captures cells based on a combination of their
size and compressibility. The system is epitope independent and can capture
all phenotypes of CTCs (epithelial, mesenchymal and EMTing CTCs) as well as
CTC clusters in a viable form (alive). CTCs harvested from the system enable a
complete picture of a cancer to be seen; as being an intact cell they allow
DNA, RNA and protein analysis as well as cytological and morphological
examination and may provide comparable analysis to a tissue biopsy in
metastatic breast cancer. Because CTC analysis is a non-invasive process,
unlike tissue biopsy, it can be repeated as often as needed. This is important
because cancer develops and changes over time and there is a clear medical
need for up-to-date information on the status of a patient's tumor. In
addition, the live CTCs harvested by the Parsortix system can be cultured,
which offers the potential for testing tumor response to drugs outside the
patient.

 

The Parsortix technology is the subject of 26 granted patents in Europe, the
United States, China, Australia, Canada, India, Japan and Mexico with three
extensive families of patents are being progressed worldwide.

 

In the United States, the Parsortix(®) PC1 system has received a Class II
Classification from FDA for use with metastatic breast cancer patients. FDA
clearance is seen as the global gold standard. ANGLE's Parsortix system is the
first ever FDA cleared system for harvesting CTCs for subsequent analysis.
ANGLE has applied the IVD CE Mark to the same system for the same intended use
in Europe.

 

ANGLE has also completed three separate 200 subject clinical studies under a
programme designed to develop an ovarian cancer pelvic mass triage test, with
the results showing best in class accuracy (AUC-ROC) of 95.4% with sensitivity
of 90% and specificity of 93%. This excellent clinical result demonstrates the
utility of cells harvested by the Parsortix system, which the Company believes
is the "best sample" for liquid biopsy analysis as it recovers intact, living
cancer cells that are involved in the progression of the disease providing
prospective information.

 

ANGLE has established formal collaborations with world-class cancer centres
and major corporates such as Abbott, Philips and QIAGEN, and works closely
with leading CTC translational research customers. These Key Opinion Leaders
(KOLs) are working to identify applications with medical utility (clear
benefit to patients), and to secure clinical data that demonstrates that
utility in patient studies. The body of evidence as to the benefits of the
Parsortix system is growing rapidly from our own clinical studies in
metastatic breast cancer and ovarian cancer and also from KOLs with 76
peer-reviewed publications and numerous publicly available posters from 33
independent cancer centres, available on our website.

 

ANGLE has established clinical services laboratories in the UK and the United
States to accelerate commercialisation of the Parsortix system and act as
demonstrators to support product development. The laboratories offer services
globally to pharmaceutical and biotech customers for use of Parsortix in
cancer drug trials and, once the laboratories are accredited and tests
validated, will provide Laboratory Developed Tests (LDTs) for patient
management.

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