Business
PHILIPS COLLABORATION IN BREAST AND RECTAL CANCER
PHILIPS COLLABORATION IN BREAST AND RECTAL CANCER.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n \nRNS Number : 2918X Angle PLC 23 November 2017 \n\n\n\n\n\nFor immediate release\n\n\n 23 November 2017\n\n\n\n\n \nANGLE plc (\"the Company\")\n \n COLLABORATION WITH PHILIPS IN BREAST AND RECTAL CANCER\n \nANGLE to receive European research grants of £0.4 million\n \n \nANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, is pleased to announce that it has established a collaboration with Philips to develop liquid biopsy solutions. Philips has successfully secured a European Union research grant worth €6.3 million, of which £0.4 million will flow to ANGLE.\n \nPhilips has selected ANGLE's ParsortixTM system as the sole system to be used for harvesting circulating tumor cells (CTCs) for analysis in the research collaboration, which is an important area of development for Philips following its restructuring in 2016 to focus on healthcare. \n \nThe collaboration with Philips comes shortly after ANGLE's announcement of its co-marketing agreement with QIAGEN and is part of ANGLE's strategy to establish partnerships with a wide range of large companies for the commercialisation of ParsortixTM. In the year to 31 December 2016, of Philips' total revenues of €24.5 billion, €17.5 billion came from healthcare, which is their focus for future growth.\n \nThe collaboration is planned for a four year period. It is estimated that grant funding of £0.1 million and £0.2 million will be received by ANGLE in the financial years ending 30 April 2018 and 2019, respectively. The remaining £0.1 million will spread over the following three financial years.\n \nANGLE Founder and Chief Executive, Andrew Newland, commented:\n\"We are delighted to be working with Philips and the other commercial partners on the development of new liquid biopsy solutions. We look forward to joint commercialisation of these solutions and to working closely with Philips going forward. This is a further demonstration of ANGLE's strategy to partner with large corporates to deliver widespread adoption of ANGLE's ParsortixTM CTC harvesting system.\"\n \nThe press release issued by Philips today is reproduced in full below.\n \n \nPHILIPS\n \nPress Information\n \nNovember 23, 2017\n \nPhilips-led research consortium awarded ...