Oxford Nanopore Technologies, a UK-based developer of human genome technology, has raised £25m ($41m) from a consortium including its DNA sequencing marketing partner, Illumina UK. The other investors in Oxford Nanopore, which is valued in the round at £155m, included hedge fund Lansdowne Partners, London-listed developer of intellectual property-based businesses IP Group, mutual fund manager Invesco Perpetual and venture capital firm Redmile Group. IP Group said its 21.5% beneficial stake in Oxford Nanopore was valued at £33.4m after the latest round. Oxford Nanopore, which provides electronic measurement of current through small holes (nanopores) to identify molecules and holds more than 250 patents, previously raised £17.4m in February last year to take its then total to £32m since its formation in 2005. In October, Pacific Biosciences, a US-based gene sequencing company, hit the mid-point of its flotation price range to raise $186m after fees, according to a regulatory filing that said Oxford Nanopore was an "emerging potential competitor".

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