5 October 2017 – acquisition and fund raising
The company, a leading player in the liquid biopsy market, has announced the acquisition of certain assets of Axela Inc, a company spun out of the University of Toronto in 2001. The assets acquired will be used in conjunction with ANGLE’s Parsortix system to provide a highly effective solution that has the potential to enable precision medicine and transform cancer care in the future. The assets are being acquired for approximately CAD6.15m (£3.7m). To help fund this and provide additional working capital for the company, ANGLE is raising £12.2m through a fundraising at 35p per share. This should provide funds for the foreseeable future whilst the acquisition makes sense from a commercial point of view. Although it may take time for shareholders to be rewarded the shares are a LONG TERM BUY.