ANGLE Shares Plunge: Announces Strategic Shift, Rebrands as CelLBxHealth plc

ANGLE (AIM:AGL), a precision circulating tumor cell (CTC) intelligence company, has announced a strategic overhaul, including the appointment of Dr. Jan Groen as Executive Chairman and a proposed name change to CelLBxHealth plc.

The move signals a sharpened focus on CTC intelligence and aims to accelerate commercial traction while implementing stringent cost controls.

ANGLE shares have declined more than 23% in early Wednesday trading.

Dr. Groen, a seasoned veteran in oncology diagnostics, brings over 25 years of experience in commercializing personalized medicine.

His track record includes successfully restructuring Oncomethylome Science, now MDxHealth (NASDAQ: MDXH). He is expected to work closely with the senior management team to streamline costs and pursue potential collaborations outlined in the recent interim results.

The proposed name change to CelLBxHealth plc reflects the company's dedication to providing high-value CTC-based precision diagnostic testing, particularly within the pharmaceutical services sector and clinical diagnostics market.

The company believes the new name, derived from “Circulating Tumour Cells obtained via liquid biopsy,” encapsulates its aspirations to support pharmaceutical companies and clinicians in improving cancer patient outcomes.

The company said its initial focus will be on the proteomics and genomics market segment, leveraging its proprietary Parsortix platform for CTC isolation.

The aim is to develop applications that integrate existing proteomics and genomic assays, providing complementary insights to circulating tumor DNA. The name change is anticipated to take effect in mid-October, with the AIM ticker changing to CLBX.

ANGLE plc has a cash runway extending into Q1 2026. However, the company anticipates the need to raise funds in the coming months.

Andrew Newland, Chief Executive, and Ian Griffiths, Finance Director, will be transitioning out of the business, with their contractual entitlements honored over the next 12 months. The company has stated that these costs will not accelerate and affect their cash runway.