Business
Oxford Nanopore announces £100m fundraising
Oxford Nanopore announces £100m fundraising.
About this update from Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 2136I IP Group PLC 20 March 2018 \n\n\n\n\n\nFOR RELEASE ON\n\n\n20 March 2018\n\n\n\n\n \n \nTHIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.\n \n \nIP Group plc - Portfolio company Oxford Nanopore Technologies announces £100m fundraising from global investors\n \nIP Group plc (LSE: IPO) (\"IP Group\" or \"the Group\"), the developer of intellectual property-based businesses, is pleased to note that its portfolio company Oxford Nanopore Technologies Limited (\"Oxford Nanopore\" or \"the Company\"), has announced a £100 million fundraising, including new investment from GIC (Singapore), China Construction Bank International (CCBI, China), Hostplus (Australia) and existing investors.\n \nOxford Nanopore, the company behind the only portable, real-time DNA/RNA sequencer, MinION, plans to use the funds to support its next phase of commercial expansion including a new, high-volume manufacturing facility in Oxford to meet accelerating demand for Oxford Nanopore's sequencing technology as well as increasing its commercial team.\n \nIP Group holds an undiluted beneficial stake of 18.3% in Oxford Nanopore, valued at £274.1 million. This represents an unrealised fair value gain to the Group of £27.8 million compared with the last financing round in 2016.\n \nAlan Aubrey, Chief Executive of IP Group plc, said: \"We're delighted that Oxford Nanopore has successfully completed another substantial fundraising and are particularly pleased to see the quality and breadth of new investors. In this context we were pleased to introduce both CCBI and Hostplus to the round who both share our belief in and ambitions for the company. Oxford Nanopore has achieved significant growth over the last year and we look forward to further progress this year.\"\n \nOxford Nanopore will also use the funds to support R&D as it expands its suite of analysis devices. The currently available pocket MinION and desktop GridION are being joined by high-throughput modular sequencing with PromethION and small, single-test sequencing with Flongle.\n \nThe full announcement follows. \n \nFor more information, please contact:\n \n\n\n\n\nIP Group plc\n\n\nwww.ipgroupplc.com\n\n\n\n\nAlan Aubrey, Chief Execut...