The MinION portable sequencer is the size of a stapler and can provide rapid sequence information. Pic: Oxford Nanopore

Oxford firm makes £48.4 million raise for nanopore sequencing innovations

 1 min | By Karen David
 |  | Jun 16th 2020

Oxford Nanopore Technologies has added £48.4 million ($59.2 million) in new capital to the £29.3 million the company raised last year.

With full details pending, the funds are expected to be channelled into developing the company’s nanopore sequencing devices, used worldwide in scientific research, including efforts to address the Covid-19 pandemic, where Oxford Nanopore is developing a new category of Covid test, LamPORE, and in regulated environments such as healthcare and food safety.

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This latest funding comes from new investors and existing shareholders in the EMEA, US and Asia regions and takes total primary investment in the firm to over £500 million. In July 2019, Oxford Nanopore opened its first production facility, and in December raised £80.2 million in secondary shares. This January, two hundred of the firm’s MinION portable devices for DNA/RNA sequencing were shipped to China in January to help with surveillance of the coronavirus outbreak.

About the Author

Karen David

Karen has a long career in writing and communications in technology, finance and creative sectors in Oxfordshire, the UK and internationally.

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