ANGLE plc provides an update on Novocellus, its 82% owned portfolio company which specialises in IVF embryo viability.
Novocellus has a partnership with Origio, a leading supplier of IVF culture medium, whereby Origio are responsible for undertaking the final trials for Novocellus' embryo viability product, EmbryoSure®. Origio then have the right to license the EmbryoSure® IP in exchange for milestone payments and a 25% royalty on future sales.
As previously advised to the market, the trial of EmbryoSure is delayed. The timeframe for completing the trials is at present uncertain. ANGLE is meeting with Origio at the end of this month to review options for progressing the trials. ANGLE remains confident of the potential for EmbryoSure to make a major impact in the IVF market.
A further announcement will be made once the position becomes clearer.
ANGLE Founder and Chief Executive, Andrew Newland, commented: "We continue to believe that EmbryoSure has the potential to make a major impact in the IVF market and it is important to us that we get the trials completed and the product in the market as quickly as possible."