Biotech unicorn Oxford Nanopore raises £195million in operate-up to London float

 

 

GENE sequencing group Oxford Nanopore has raised £195 million in new capital within the direct-up to its remarkably predicted London float.

The biotech “unicorn” has raised £125 million from Singapore sovereign prosperity fund Temasek, M&G Investments, Wellington and Nikon.

IP Group was amid current shareholders to pour in a extra £70 million.

The newest funding spherical locations a price of all-around £2.5 billion on the group whose transportable DNA and RNA sequencing items are utilised within the analysis of infectious illnesses, most cancers analysis, viral surveillance, foodstuff safety and environmental scientific research.

The hand-held units are additionally remaining deployed to detect mutant strains of Covid-19.

It has launched it should go public in London within the second 50 % of this calendar 12 months, with founder Dr Gordon Sanghera saying that regardless that 2020 was a ‘pivotal 12 months’, the company is: “nonetheless solely within the foothills of what’s achievable.”

The float will even carry a potential payday for merchants in Neil Woodford’s collapsed Affected person Money fund now changing into managed by Schroders: Nanopore is the subsequent most important holding within the Schroder Uk Common public Personal think about at 13.7% of the portfolio.

However the added advantages will likely be missed by folks within the considerably even bigger Woodford Equity Money circulate Fund, whose stake was marketed final calendar 12 months by administrator Connection to Acacia Examine, a US-primarily based mostly fund remaining really helpful by Woodford.

Acacia purchased the 6% stake in Nanopore from for £97.eight million in June. Present estimates advise it’s now nicely price about double that sum.

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