Liquid biopsy company Angle said it had agreed a pharmaceutical services contract with a new customer that it didn't name.
Angle said it would develop immunofluorescence assays to detect two specific protein markers expressed by circulating tumour cells and implicated in DNA damage repair.
'The new customer is a well-funded clinical stage development company with established commercialisation agreements with multiple global pharma companies,' it said.
The first phase of work agreed covered an initial assay development and validation contract generating revenues of about $0.4 million over a 12 month period.
'Assuming a successful outcome, the customer expects the assays to be utilised in a clinical trial with study sites in the US and Europe, planned to commence in the second half of 2022,' Angle said.
The clinical trial phase was expected to generate further significant revenues, Angle said.
As part of the contract, Angle would develop the two assays to detect the target proteins in four hard-to-treat cancers: triple negative breast cancer, prostate cancer, ovarian cancer and pancreatic cancer.