Angle shares storm north on Parsortix lung cancer result

Angle, the technology investment company, saw its share price go vertical on Friday morning on the back of success at one its investments, Parsortix.

Parsortix, which specialises in medical diagnostics, has confirmed its cell separation device can "capture cultured lung cancer cells". This comes after previous announcements indicating the technology can identify breast and prostate cancer cells.

According to Cancer Research UK, women have a lifetime risk of 12.5% of suffering breast cancer (6.1% up to the age of 64) and men have a 12.1% risk of suffering prostate cancer (2.3% up to the age of 64).

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Lung cancer is the next most prevalent, and therefore most likely to generate revenues. Men have a 7.5% lifetime risk of getting it, for women the figure is 5.5%.

Current diagnostic technology usually relies on so called "antibody affinity capture" to locate cancer cells. This method is, according to Angle, not always effective.

Parsortix's separation method could be used to diagnose and monitor cancer patients more quickly and reliably.

Angle says, however, that there are a number of phases to go through before full production, including confirming separation can capture types and cancer while also getting the device certified by independent experts.

Nevertheless the effect on Angle's share price has been dramatic, it is up 10% this morning, 294% on the year to date.

Angle owns 90% of Parsortix.

BS