|[August 12, 2014]
Oxford Nanopore announces £35 million ($59 million) fundraising
OXFORD, England --(Business Wire)--
Oxford Nanopore Technologies Ltd, the UK-based technology company
specialising in nanopore-based electronic molecular analysis systems,
has raised £35 million ($59 million) in new funding through a private
placement of ordinary shares. Both new and existing investors in the UK,
US and mainland Europe subscribed to the fundraising. New investors
include The CF Woodford Equity Income Fund managed by Woodford
Investment Management LLP.
Funds will be used to further develop the Company's commercial and
manufacturing infrastructure that has been serving early customers
through the Company's MinION Access Programme (MAP); this includes
scaling up of production and logistics and expansion of customer support
and application development functions. In addition the funds will
support the Company's significant R&D operation including its pipeline
of scalable nanopore-sensing products to address all parts of the
market. Oxford Nanopore is committed to the development and protection
of its leading intellectual property portfolio.
Gordon Sanghera, Chief Executive, said: "
This transaction brings the total funds raised by Oxford Nanopore since
its foundation in 2005 to £180 million.
Note: The placement of ordinary shares in the Company under this
fundraising does not constitute an offer of the Company's shares to the
public. No shares in the Company will be offered or sold to any person
except in circumstances which have not resulted and will not result in
an offer to the public.
About Oxford Nanopore
Oxford Nanopore Technologies™ is developing a new generation of
nanopore-based electronic systems for analysis of single molecules
including DNA, RNA and proteins. The GridION™ system and miniaturised
MinION™ device are designed to provide novel qualities in molecular
sensing such as real-time data streaming, improved simplicity,
efficiency and scalability of workflows and direct analysis of the
molecule of interest . The devices may be used use in scientific
research, personalised medicine, crop science, security & defence and
Oxford Nanopore has licensed or owns more than 350 patents and patent
applications that relate to many aspects of nanopore sensing from
protein nanopores to solid state nanopores and for the analysis of DNA,
proteins and other molecules. This includes the use of functionalised
solid-state nanopores for molecular characterisation, methods of
fabricating solid-state nanopores and modifications of solid-state
nanopores to adjust sensitivity or other parameters.
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