25th Sep 2014 10:01
LONDON (Alliance News) - Specialist medical technology company Angle PLC Thursday said it is in ongoing talks with the US Food and Drug Administration for the regulatory approval of its Parsortix system.
The US market is the largest medical diagnostic market in the world, Angle said, and is a key priority for commercialisation of its Parsortix system, the company's innovative technology for the capture, harvesting and analysis of circulating tumour cells in cancer patients.
The company is seeking clearance for the use of the system as a platform for the capture and harvesting of large cells from blood for the purposes of analysis. If authorised by the FDA, this will enable the Parsortix system to be used for all types of cancer cells, and any approved form of analysis.
Angle said Thursday that in order to capitalise on opportunities in the US market and accelerate US sales and corporate deals with major pharmaceutical and medtech companies, it has appointed Peggy Robinson as US Vice President. Robinson was formerly a marketing director for Johnson & Johnson company Veridex.
The company also said that it is establishing a Level 1 American Depositary Receipt programme to meet demand from US investors seeking to invest in the company's equity securities via a US exchange in US dollars.
"The ADR programme on the OTCQX marketplace will meet US investor demand and increase liquidity in Angle's shares to the benefit of our shareholders," said Founder and Chief Executive Andrew Newland in a statement.
Angle shares were up 4.3% at 97.50 pence Thursday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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