ANGLE plc - Appointment of Executive Chairman, proposed change of name and strategy update

Company to pursue revised strategy and name change to CelLBxHealth plc

Dr. Jan Groen, the current Non-Executive Chairman and recognised oncology diagnostic industry veteran, to lead company as Executive Chairman

Revised strategy to sharpen focus on the provision of industry-leading CTC intelligence and accelerate Company’s commercial traction, whilst delivering further cost control 

Cash runway remains through to Q1 2026; expected need to raise funds in coming months

ANGLE plc (AIM:AGL OTCQX:ANPCY), a global precision CTC intelligence company specialising in innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, announces that its Chairman, Dr Jan Groen, has moved into an executive role. Jan will lead the Company as it pursues a revised strategy, focused on tight cost control, accelerated commercial progress and a clear plan towards becoming a sustainable business.

Jan has over 25 years of experience in the commercialisation of clinical and personalised oncology diagnostics, and has led the turnaround of several companies, one of them being a publicly listed company, Oncomethylome Science, that has continued successfully after its restructure as MDxHealth (NASDAQ: MDXH). Jan is working alongside the senior management team to identify the appropriate ongoing cost base whilst progressing a number of potential collaborations and partnerships that were detailed in the interim results in early September.

As part of its revised strategy, the Company proposes to change its name to CelLBxHealth plc. The new name reflects the Company’s sharpened focus on ‘CTC intelligence’, the provision of high-value CTC-based precision diagnostic testing for the pharmaceutical services sector and the clinical diagnostics market.

The Board believes that the new name, CelLBxHealth, encapsulates the Company’s aspirations. “CelLBx” (short for Circulating Tumour Cells obtained via liquid biopsy, “LBx”) reflects a key and rapidly emerging field of healthcare innovation, where diagnostics and therapeutics increasingly converge. The addition of “Health” underscores the Company’s core mission: to support pharmaceutical companies and clinicians in improving outcomes for cancer patients.

The initial emphasis will be on the proteomics and genomics market segment. Here the Company will seek to maximise the potential of its proprietary Parsortix platform for CTC isolation by developing applications that integrate existing proteomics and genomic assays capable of providing complementary insights to circulating tumour DNA.

The change of name is expected to take effect in mid-October, following the issuance of a Certificate of Incorporation on change of name by Companies House. The Company’s AIM ticker will be CLBX.

As highlighted in the recent interim results statement, the Company has a cash runway into Q1 2026. As such, the expectation is that the Company will need to raise funds in the coming months. This process will commence once there is clarity on the appropriate cost base, funding need and a clear path to greater commercial traction.

Andrew Newland, Chief Executive, and Ian Griffiths, Finance Director have continued to provide support to the Company in their non-board roles and will be transitioning out of the business in due course. Their contractual entitlements will be honoured over the next 12 months, with no acceleration of these costs expected to affect the Company’s cash runway.