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Oxford Nanopore raises £84.4M in new capital

Oxford Nanopore raises £84.4M in new capital

Oxford Nanopore Technologies has raised £84.4M in new capital from existing investors and new investors, including International Holdings Company (IHC) and RPMI Railpen. The company had previously raised £29.3m of new capital in January and £48.4m in May.

The funds will support the rapid acceleration of Oxford Nanopore’s commercial and manufacturing operations as well as ongoing innovation in the field of nanopore technology.

Oxford Nanopore has developed and commercialised a new generation of DNA/RNA sequencing technology that is used by researchers to explore human genetics, cancer, infectious pathogens, plant and animal genomics and environmental science.

Oxford Nanopore devices include the hand-held MinION Mk1C, the desktop GridION and ultra-high throughput PromethION, which is now being used in population-scale sequencing.

Oxford Nanopore’s technology is increasingly being used in 'applied markets' to generate actionable insights such as in food safety or infectious disease, including COVID-19.

The Company is currently investing in the scaleup of its new COVID-19 test, LamPORE - a rapid and scalable test to detect the SARS-CoV-2 virus.

In 2019, Oxford Nanopore opened a new high-tech factory in Oxford, to cater to the accelerating demand for its sequencing products.

"We are delighted to welcome our new shareholders,” said Dr Gordon Sanghera, CEO of Oxford Nanopore. “Our international investor base reflects the international ambitions of Oxford Nanopore, as our technology is now used to answer important biological questions in more than 100 countries."