NEW YORK (GenomeWeb News) – Oxford NanoLabs has changed its name to Oxford Nanopore Technologies, which the company said better reflects its ambition to develop nanopore technology into molecular detection and analysis products.
The UK-based company said its nanopore technology is “a revolutionary method” that could be used for DNA sequencing, diagnostics, drug development, and defense applications.
The company, founded by University of Oxford professor Hagan Bayley, raised £10 million ($19.6 million) in private financing earlier this year to speed its R&D program, which is focused on developing a nanopore-based DNA sequencing method that is label-free and measures DNA bases at the single-molecule level.
“This is groundbreaking science that requires a multidisciplinary approach to transform it into working products,” Oxford Nanopore CEO Gordon Sanghera said in a statement.
The company said that the nanopore system has potential applications beyond DNA sequencing, include detecting “a wide range of molecules, including other nucleic acids, proteins, small organic molecules and ionic species.”