angle plc 30 january 2014: interim results for the year ended 31 october 2013

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Interim Results for the six months ended 31 October 2013 Parsortix development completed and CE Mark awarded Andrew Newland and Ian Griffiths 30 January 2014

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Page 1: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

Interim Results for the six months ended 31 October 2013

Parsortix development completed and CE Mark awarded

Andrew Newland and Ian Griffiths30 January 2014

Page 2: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

© ANGLE plc 2014 Page 2

Legal disclaimer

The information and opinions contained in this presentation are provided as at the date hereof and are subject to amendment(without notice), verification and completeness.

This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directlyor indirectly, to any other person or published in whole or in part for any purpose. This document is being provided to recipients onthe basis that they keep confidential any information contained herein or otherwise made available, whether orally or in writing, inconnection with the Company. Neither this document or any part of this document nor any copy of it may be sent to or taken intothe United States of America, Canada, Australia, Japan, the Republic of South Africa or the Republic of Ireland, nor may it bedistributed to, directly or indirectly, to any US person (within the meaning of regulation S promulgated under the United StatesSecurities Act of 1933, (as amended) (the “US Securities Act”)). This document does not constitute an offer to buy or to subscribefor, or the solicitation of an offer to buy or to subscribe for securities in the Company. To the extent this document is received orused in jurisdictions outside the UK, any such recipient or user should inform themselves about and observe any applicable legalrequirements. Neither this document nor any part of this document should be copied or distributed by recipients and, in particular,should not be distributed by any means, including electronic transmission, to persons with addresses in the United States of America(or any of its territories or possessions) Canada, Australia, Japan, the Republic of South Africa or the Republic of Ireland or to anycitizens, residents or nationals thereof, or to any corporation, partnership or other entity created or organised under the laws thereofor in any other country outside the United Kingdom where such distribution may lead to a breach of any law or regulatoryrequirement. Any such distribution could result in violation of the laws of such countries.This document does not constitute or form any part of any offer or invitation or other solicitation or recommendation to purchaseany securities in the Company and does not constitute or form part of a prospectus. No reliance may be placed for any purposewhatsoever on the information, representation or opinions.

This document should not be considered as the giving of investment advice by the Company or any of its shareholders, directors,officers, agents, employees or advisers. Each party to whom this document is made available must make its own independentassessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular,any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysisand assumptions and each recipient should satisfy itself in relation to such matters.

Neither the Company nor any other person makes any guarantee, representation or warranty, express or implied, as to theaccuracy, completeness or fairness of the information and opinions contained in this document, nor does the Company accept anyresponsibility or liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arisingin connection therewith.

Forward-Looking StatementsThis presentation and the associated commentary contains certain forward-looking statements based on current expectations,forecasts and assumptions that involve significant risks and uncertainties. These statements are based on information currentlyavailable to the Company; and actual results could differ materially from those stated or implied, due to risks and uncertaintiesassociated with its business. Forward-looking statements include statements regarding expectations, beliefs, intentions or strategiesregarding the future and can be identified by forward-looking words such as “potential”, “target”, “anticipate”, “believe”, “could”,“estimate”, “expect”, “intend”, “may”, “should”, “will”, and “would” or similar words. ANGLE assumes no obligation to update theinformation included in this presentation, whether as a result of new information, future events or otherwise.

Page 3: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Highlights

Completed the key development phase for the Parsortix system for capturing circulating tumour cells (CTCs)

Balance sheet and medtech focus strengthened by sale of Geomerics to ARM Holdings for up to £6.2m - £5.5m already received

CE Mark awarded for clinical use in Europe

Parsortix system well received by research partners, University of Surrey Oncology Group and Cancer Research UK’s Paterson Institute for Cancer Research

Now being evaluated by key opinion leaders in the fields of cancer diagnosis and treatment

ANGLE now focused on securing US regulatory authorisation and building the platform for widespread market adoption for the treatment of cancer patients

Page 4: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Page 4

Financial Results for the six months ended 31 October 2013

H1 2014 H1 2013

Statement of Comprehensive Income £’000 £’000

Revenue 414 467

Investments portfolio gain 404 286

818 753

Operating costs (1,374) (1,126)

Other income 80 14

Loss before tax (476) (359)

Statement of Financial Position 31Oct13 30Apr13

Investments 4,839 3,961

Trade and other receivables 530 454

Inventories 15 62

Cash 358 1,828

Property, plant and equipment 198 138

Intangible assets 1,099 1,080

Total assets 7,039 7,523

Comments

Increased investment principally in Parsortix of £1.1m up from £0.8m • Operating costs £0.8m

• Capitalised expenditure £0.3m

Geomerics non-core investment £4.8m • Sold after period end

• Up to £6.2m cash

• £5.5m received

Value of investments increased by £0.9m

Page 5: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Parsortix PR1 Machine successfully developed

Page 6: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Parsortix PR1 System set for automated harvesting

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GEN3 cassette: captured HT-29 colorectal cancer cells

Source: University of Surrey Oncology Department

CK20 –greenCD45 – redNuclear stain - blue

HT29: CK20+ CD45-WBC: CK20- CD45+

Spiked whole blood

Page 8: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Key applications of Parsortix

Presence

−Microscope slide capture device enables the morphological examination of captured cells with clear visibility of cell structure

−Step separation of 20µm allows easy visual sizing of cells

−Automated cell identification possible in situ within the cassette with a choice of up to 7 reagents e.g. CK18+, DAPI+ and CD45-

Counting

−Microscope slide format enables the user to view and count captured cells

−Indication of disease status and progression

Harvesting

−Automated recovery of intact, undamaged, viable cells allows DNA analysis

−High level of cell purity

Page 9: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Research partners

University of Surrey Oncology Department

Colorectal cancer patient validation

High CTC capture rate

Parsortix system demonstrated twice the sensitivity of currently accepted clinical practice for CTC capture

Cancer Research UK’s Paterson Institute for Cancer Research

Positive evaluation. Key advantages identified:−Epitope independent (does not use antibody capture)−“Plug and play”−Operationally versatile−Biomarker compatible (harvested cells can be analysed)

Parsortix included in Paterson’s ongoing efforts to deliver personalised medicine

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Sales platform

Sales priority to establish Parsortix in clinical practice−working with cancer research centres to identify clinical applications−securing positive clinical data demonstrating medical utility−key opinion leader support

21 Parsortix PR1 systems deployed – 12 with key cancer groups−5 with research partners, Cancer Research UK’s Paterson Institute for Cancer

Research and the University of Surrey Oncology Group−3 leading cancer research centres in London, Cambridge and Germany−3 leading hospitals in London and Oxford−1 with a diagnostic company

Priority deployment of machines with key cancer groups

Beginning deployment of systems in support of research sales

Expect revenues to take time to develop and be modest initially

As each clinical application established expect sustained revenue growth for that application

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Cambridge Parsortix laboratory

Partnership with Medical Research Council’s Cancer Unit at the University of Cambridge to establish a Cambridge Parsortix laboratory

MRC Cancer Unit is a key opinion leader

MRC Cancer Unit research team, and the wider scientific community at the University of Cambridge and Addenbrooke’s hospital, access to the Parsortix system

Important recognition of the Parsortix system that the MRC Cancer Unit has decided to invest in establishing a stand-alone Parsortix laboratory within its facility

Core areas of investigation−Bowel cancer including colorectal, pancreatic and oesophageal cancers−Detection of cancer−New drug compounds−Gene mutation analysis and next-generation sequencing (NGS)

Page 12: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Next Generation Sequencing

Third Scientific Adviser appointed

Dr Harold Swerdlow leading expert in next-generation sequencing (NGS)

Head of Research and Development for Wellcome Trust Sanger Institute

Invented core technology relating to NGS and commercialised this at Solexa Ltd

Solexa was acquired by Illumina for US$600 million

Directs all next-generation DNA sequencing at Sanger

NGS premier technique in genetic and genomic analysis, fundamental to personalised cancer treatment

Aligning Parsortix with NGS key commercial objective

Page 13: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Objectives for current financial year

Strengthen balance sheet with sale of Geomerics - achieved

Place Parsortix system with key opinion leaders – in progress

3rd party validation of the Parsortix system - achieved

Select a manufacturing partner and establish quality control systems -achieved

Plan for regulatory authorisation for the product to be used in the clinical market - achieved

CE Mark authorisation for clinical sales in the Europe - achieved

Application to the FDA for authorisation for clinical sales in the United States in Q1 2014

Market entry plan for Parsortix

Page 14: ANGLE plc 30 January 2014: Interim Results for the year ended 31 October 2013

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Andrew Newland

ANGLE plc

3 Frederick Sanger Road

The Surrey Research Park

Guildford GU2 7YD

United Kingdom

Tel: +44 1483 685830

Fax: +44 1483 685836

Email: [email protected]

Website: www.ANGLEplc.com

Contact details