Biotech unicorn Oxford Nanopore raises £195M ahead of London IPO; valued at £2.48B
Based out of Oxford, Oxford Nanopore Technologies is the next-generation DNA/RNA sequencing technology company. Recently, the company has raised £195 million in new capital in a private transaction, valuing the company at £2.48 billion.
As per the press release, £125 million of the investment comes from new investors Temasek, Wellington Management, M&G Investments, and Nikon.
Existing investors including the IP Group, contributed £70 million as well. Notably, the company is also planning to list on the London stock market in the second half of this year as well.
DNA/RNA sequencing technology
Founded by Hagan Bayley in 2005, Oxford Nanopore has developed and commercialises a novel generation of DNA/RNA sequencing technology that provides rich data, is fast, accessible, and easy to use in any location.
The company’s goal is to disrupt the way that biological analyses are currently performed; to enable the analysis of anything, by anyone, anywhere.
Used in 80 countries
The electronics-based DNA/RNA sequencing technology is being used in more than 80 countries, for a range of biological research applications. These include large-scale human genomics, cancer research, microbiology, plant science, and environmental research.
The University of Oxford spin-off now employs more than 600 people from multiple disciplines including nanopore science, molecular biology, and applications, informatics, engineering, electronics, manufacturing, and commercialisation.
Developed COVID-19 test
The palm-sized portable MinION device, and desktop GridION and PromethION devices, are used in a broad range of scientific analyses, across human genetics, cancer research, agriculture, food safety, healthcare, and environmental insights.
Most recently, Oxford Nanopore has launched the MinION Mk1C, a fully connected sequencer with screen and compute, and has also developed the LamPORE COVID-19 test.