Oxford Nanopore Technologies has raised £195 million.
The firm, spun out of Professor Hagan Bayley’s University of Oxford lab, has developed a real-time DNA/RNA sequencer and can assist with accurate, rapid testing in cancer and infectious disease.
Oxford Nanopore’s sequencing devices are being used in scientific research worldwide, and increasingly in regulated environments such as healthcare and food safety.
The technology is being used for epidemiology and research purposes in the COVID-19 pandemic, helping to track mutations of coronavirus as they spring up around the world. It has also developed a diagnostic test to identify the presence of the virus which causes COVID.
In March, the company revealed plans to float on the London Stock Exchange later this year while appointing a CFO and General Counsel.
New investors Temasek, Wellington Management, M&G Investments and Nikon have invested £125m, with existing shareholders investing £70m.