Business
ADR Programme, FDA Update and US Appointment
ADR Programme, FDA Update and US Appointment.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n \nRNS Number : 5572S Angle PLC 25 September 2014 \n \n\n\n\n\n\nFor immediate release \n\n\n25 September 2014\n\n\n\n\n \nANGLE plc\n(\"ANGLE\" or the \"Company\") \n \nADR PROGRAMME, FDA UPDATE AND US APPOINTMENT \n \nANGLE plc (AIM: AGL), the specialist medtech company, is pleased to announce that it is establishing a Level 1 American Depositary Receipt (ADR) programme to meet demand from US investors seeking to invest in ANGLE's equity securities via a US exchange in US dollars.\n \nANGLE believes the ADR programme will benefit existing shareholders by making its shares more accessible to US investors, and will provide ANGLE with increased liquidity and visibility within the US investment market. \n \nThe Bank of New York Mellon has been appointed to act as the depositary to establish and maintain the ADR programme. The ANGLE ADR is expected to begin trading next month on the OTCQX marketplace operated by OTC Markets Group Inc. Aegis Capital Corp. has been appointed to serve as ANGLE's Principal American Liaison (\"PAL\") on OTCQX, responsible for providing professional guidance on OTCQX requirements. \n \nThe ADR programme is one of a number of steps that ANGLE is taking to build up its business in the US, where ANGLE has been operating since 2000. The Parsortix technology was originally developed in the US and ANGLE has a laboratory and office facility in Philadelphia.\n \nThe US market is the largest medical diagnostic market in the world and is a key priority for commercialisation of the Parsortix system, ANGLE's innovative technology for the capture, harvesting and analysis of circulating tumour cells (CTCs). ANGLE is developing relationships in the US market with major cancer research centres as key opinion leaders for the Parsortix system. The first of these relationships focuses on metastatic breast cancer and is with the University of Southern California Norris Comprehensive Cancer Center, as announced on 19 September 2014.\n \nWork continues with the US Food and Drug Administration (FDA) for the regulatory approval of the Parsortix system. ANGLE 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 ...