ANGLE to receive European research grants of £0.4 million, to develop liquid biopsy solutions
ANGLE, a leading liquid biopsy company, 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.
Philips has selected ANGLE’s Parsortix system as the sole system to be used for harvesting circulating tumour 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.
The 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 Parsortix.
The 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.
Andrew Newland, Founder and Chief Executive, ANGLE commented, “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 Parsortix CTC harvesting system.”
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