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

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

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ENE sequencing team Oxford Nanopore has raised £195 million in new money in the lead-up to its extremely expected London float.

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

IP Team was amongst existing shareholders to pour in a even more £70 million.

The hottest funding spherical sites a value of all-around £2.5 billion on the team whose moveable DNA and RNA sequencing equipment are applied in the study of infectious health conditions, most cancers investigate, viral surveillance, food protection and environmental scientific tests.

The handheld machines are also being deployed to detect mutant strains of Covid-19.

It has announced it will go community in London in the 2nd 50 % of this yr, with founder Dr Gordon Sanghera indicating that though 2020 was a ‘pivotal year’, the firm is: “still only in the foothills of what is possible.”

The float will also carry a opportunity payday for buyers in Neil Woodford’s collapsed Affected person Cash fund now staying managed by Schroders: Nanopore is the next most significant holding in the Schroder Uk Public Private trust at 13.7% of the portfolio.

But the positive aspects will be skipped by those in the significantly greater Woodford Equity Earnings Fund, whose stake was bought last yr by administrator Connection to Acacia Analysis, a US-centered fund getting encouraged by Woodford.

Acacia acquired the 6% stake in Nanopore from for £97.8 million in June. Latest estimates propose it is now worthy of approximately double that sum.