A speculative buy begininng to pay off........

Angle plc is a company I've held in my portfolio since the back-end of 2012 where I was picking up shares at around 27p a pop. This was a speculative investment which I mentioned in the blog below:-

http://michae1mouse.blogspot.co.uk/2012/12/a-new-angle.html

I have written several times about my investment since the original blog, and I have so far been mightily impressed with their progress.

The big money for Angle will come from demonstrating the utility of it's liquid biopsy system Parsortix for clinical use in ovarian, breast and prostate cancer.

However, as mentioned back in December 2012, funding is always required for these types of companies as they progress towards meaningful cash generation and profitability.

Today the company announced a placing to raise just over £10m to further fund progress. This doesn't come as a surprise given the excellent results that they are achieving with Parsortix, and it was pleasing that the placing price of 64.5p per share wasn't discounted.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AGL/12828416.html

Further news released this morning came in the announcement of a contract with Cancer Research UK.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AGL/12828426.html

"ANGLE plc (AIM:AGL OTCQX:ANPCY), the specialist medtech company, is delighted to announce that it has signed a contract with The University of Manchester, acting in this instance, through the Cancer Research UK Manchester Institute which will allow incorporation of ANGLE's Parsortix system in the Clinical and Experimental Pharmacology group for routine use in clinical trials and for research purposes."

It appears that Angle's patient and sensible approach working alongside their key opinion leaders is now paying dividends, and all the evidence suggests that the Parsortix device will prove invaluable in the fight against cancer. For shareholders, I believe that patience will soon be realised as the focus of the company begins to slowly but surely shift towards revenue generation.

From today's announcement's:-

"Since 1 November 2015, the Company has continued to trade in line with Directors' expectations with revenues expected to be within the range of analysts' forecasts for the 12 months to 30 April 2016.  Together with the net proceeds of the Placing, the Company's cash resources on Admission will be approximately £13.1 million."

The speculative nature of my investment here continues to diminish with each RNS issued, and I am becoming quietly confident that the company will ultimately deliver on it's early promise. I remain a strong holder of my shares.