Liquid biopsy (blood analysis) has established itself as a key technology within the cancer diagnosis pathway given its minimally invasive nature versus tissue biopsy. Within this field, ANGLE’s liquid biopsy solution Parsortix has carved out a market leading niche. Whilst it’s not yet the solution of choice, given cells isolated with Parsortix can provide deeper and richer cancer insights, we believe overtime an industry wide shift to Parsortix is inevitable. ANGLE’s early commercial and clinical success has been promising but is yet to translate to wide-scale commercial adoption and profitability, but we highlight just one Phase 3 Pharma contract (worth c. £15m to £45m) could be the catalyst for change. We initiate with a BUY, TP of 17p.
