The CEO and finance director have been ousted from the board of listed MedTech ANGLE plc.
The Surrey-based firm specialises in liquid biopsies – blood tests that can detect and analyse cancer cells – and recently reported falling revenue and widening losses in its latest half-year results.
For the six months ended 30th June 2025, turnover dropped to £800,000 from £1m in the prior year, while losses grew from £7.7m to £9.3m. The firm’s cash runway will last into Q1 2026.
Now it has emerged that following discussions with a ‘significant’ shareholder, chief executive Andrew Newland and FD Ian Griffiths have agreed to step down from their positions on the board.
“They remain committed and supportive of the company and intend to support the company with an orderly handover,” read a notice posted to the London Stock Exchange.
The board now comprises Dr Jan Groen, non-executive chairman, and Dr Joseph Eid, a non-executive director. “It is proposed that the board be expanded in due course,” the firm continued.
Dr Groen did not respond to a BusinessCloud email requesting clarification of whether Newland and Griffiths would be leaving the company, or continuing in their operational positions without a seat on the board; why the shareholder in question has pushed for the change; and the company’s next steps.
ANGLE said prior to the development that it had completed three contracts with large pharma companies Eisai and AstraZeneca, while claiming that discussions are ongoing with AstraZeneca, Eisai and other large pharma regarding other new projects.
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It admitted that customer delays caused by challenging external conditions – including limited access to capital, US policy volatility, and uncertainty over tariffs for both pharma and MedTech companies – were continuing to cause significant delays to new projects and collaborations.
“If these delays continue throughout H2 then 2025 revenues will be constrained significantly and are expected to be in excess of £1.5m, with revenues shifting into 2026,” it added.
Newland said before he left the board: “We have acted decisively to build a strategy for long-term growth whilst maintaining a sharp focus on cost discipline and operational efficiency and successfully delivered on our contracts with large pharma.
“Notwithstanding the continued challenging external conditions, we remain confident in ANGLE’s ability to deliver long-term value, advancing cancer diagnostics and treatment worldwide.”
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