Tech Transfer eNews Blog

Gene sequencing spinout from Oxford, valued at £2.3B, is going public


By Jesse Schwartz
Published: April 7th, 2021

A gene sequencing company with roots at Oxford University is going public, and its three founders stand to pocket up to £150M (over $207M US) between them.

Oxford Nanopore has developed a DNA and RNA tracking technology that can be used for rapid detection of diseases, virus immunity checks and tumor sequencing. The company has also created a portable device, Minion, to carry out the testing. It’s the size of a smartphone, eliminating the need for heavy equipment.

During the COVID-19 crisis, Oxford Nanopore’s technology was used by scientists in 85 countries, enabling them to identify one fifth of virus genomes.

Oxford Nanopore has an overall business value of $2.3 billion, according to IP Group, which owns a 15% stake in the company. But analysts believe that number could easily reach up to £4 billion (over $5.54B US).

“We believe an IPO is the start of the next phase of our journey,” says co-founder Gordon Sanghera. “Access to deeper, international pools of capital would support our ambitious growth plans, enhancing our ability to innovate and scale our manufacturing and commercial functions.”

Source: Brinkwire

Posted under: Tech Transfer e-News

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