Advertisement

Sharp drop in Angle shares following business update

AIM-listed medtech company Angle revealed that Origio, a partner involved in the development of a technology patented as EmbryoSure, has decided to cease EmbryoSure studies in a business update on Monday.

AIM-listed medtech company Angle revealed that Origio, a partner involved in the development of a technology patented as EmbryoSure, has decided to cease EmbryoSure studies in a business update on Monday.

EmbryoSure is a technology being developed to assess the viability of embryos for transfer in IVF.

Earlier in 2012, Origio was acquired by The Cooper Companies and subsequently merged with Cooper subsidiary Sage IVF. As part of a rationalisation programme, Angle said that Origio had decided to cease a number of development programmes, including the EmbryoSure study.

Advertisement - Article continues below

As a result of Origio's decision, the intellectual property and ownership rights of EmbryoSure have reverted to Novocellus, an Angle subsidiary, and Angle's ongoing financial and management resources committed to Novocellus are being re-directed to Parasortix. Parasortix is Angle's non-invasive cancer diagnostic business.

Angle's business update stated that Angle "remains confident of EmbryoSure's clinical utility in increasing successful pregnancy rates through the selection of the most developmentally competent embryos for IVF transfer and that there is a major unmet medical need in this area."

Andrew Newland, Chief Executive and founder of Angle, commented: "We are pleased with strong continued progress with our Parsortix non-invasive cancer diagnostic business. We are maintaining a clear focus on getting a Parsortix product in the market as soon as possible. Whilst Origio's decision is disappointing, we retain the rights to EmbryoSure's intellectual property for future exploitation and this allows us to pursue a greater focus on Parsortix."

Shares in Angle fell 17.24% to 30p at 15:46 on Monday.

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

OBR: UK house prices could fall by 12% next year
House prices

OBR: UK house prices could fall by 12% next year

The Office for Budget Responsibility says UK house prices could fall by as much as 12% next year. John Stepek looks at how likely that is.
14 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
We’re spending more than at any time since World War II – how will we pay it back?
UK Economy

We’re spending more than at any time since World War II – how will we pay it back?

With the UK spending vast sums on stimulus measures, this year’s budget deficit will be greater than at any time since World War II. The big question,…
14 Jul 2020