The new CEO of Oxford Nanopore Technologies has begun work today as he takes over from founder Gordon Sanghera.
Francis Van Parys (pictured) will now lead the FTSE 250 MedTech, which is eyeing profitability after also reporting its results for 2025.
The DNA sequencing specialist reported revenues of £223.9 million, up 22.2% year-on-year, while adjusted EBITDA losses shrank 31.2% to £86.7m. Actual losses shrank 1% to £145.2m.
The firm reaffirmed its commitment to reach adjusted EBITDA breakeven in FY27 and become cash flow positive in FY28.
There was growth across all regions and end markets, with particularly strong performances in clinical (+60%) and BioPharma (+30%) revenues.
Van Parys, who joins from Danaher-owned diagnostics firm Radiometer, brings more than 20 years of senior life sciences leadership experience, while Sanghera will remain in an advisory role through to early 2027 to support the transition.
Sanghera has led the University of Oxford spinout since its founding in 2005, overseeing its 2021 IPO, entry into the FTSE 250 and growth to a market capitalisation of around £1.2 billion today.
The group remains well capitalised with £302.8m in cash, cash equivalents and other liquid investments as at 31st December 2025 (FY24: £403.8m).
“Leading Oxford Nanopore for more than two decades has been an extraordinary privilege,” said Dr Sanghera. “From an idea that single-molecule sensing could be done differently, we’ve built a company that created a new category of multi-omic analysis, with a differentiated platform and expanding global customer base.
“I’m confident Francis will build on these strong foundations of innovation and growth to lead Oxford Nanopore into its next chapter.”
Oxford Nanopore featured in more than 4,000 peer-reviewed papers published in 2025 – making it 20,000 to date – which it says demonstrates the utility of its benefits and traction in scientific research, spanning cancer, human genetics and infectious disease.
“I’m excited to join Oxford Nanopore today at such an important stage in its development,” said Van Parys. “The company is delivering strong growth and making progress on its path to profitability, underpinned by its differentiated sensing platform and expanding global customer base.
“With a substantial market opportunity ahead, I look forward to building on the strong foundations established under Gordon’s leadership, enhancing commercial and operational execution, and driving innovation to deliver value for the company and for all our stakeholders.”
Last year the group launched patent proceedings against MGI Australia: it says MGI has conceded that its Cyclone SEQ WT02 infringes four of Oxford Nanopore’s Australian patents.
A trial has been set for 2027 at which MGI’s remaining defences will be adjudicated.
Separately, in the UK Oxford Nanopore has issued proceedings in the High Court alleging trade secrets infringement, breach of confidence and breach of contract against MGI/ BGI entities.