Molecular detection and analysis firm Oxford Nanopore Technologies has raised £40m ($64m) in private equity funding from new and existing backers.
Founded in 2005, the firm is commercialising a DNA sequencing system which utilises nanopores originally developed at the University of Oxford. Its technologies can be used in DNA sequencing, diagnostics, drug development, biomolecular interaction, and defence applications.
The latest round of funding brings the total amount raised by the company to £145m. Investors in the company include venture firm Lansdowne Partners, commercialisation firm the IP Group (which holds a 19.6% stake valued at £104.3m) and Invesco, the largest shareholder in Imperial College London’s tech transfer unit Imperial Innovations.
The funds will be used to further develop Nanopore’s manufacturing structure, to support its on-going research, and to add to the company’s intellectual property portfolio.
