Skip to main content
Premium Trial:

Request an Annual Quote

Oxford Nanopore Technologies to File for IPO in Second Half of 2021

NEW YORK – Oxford Nanopore Technologies said on Tuesday that it is preparing for an initial public offering later this year on the London Stock Exchange.

According to IP Group, which holds a 15 percent stake in UK-based Oxford Nanopore, the firm currently expects to go public on the London Stock Exchange in the second half of 2021, but the timing will depend on market conditions and "other matters not fully within its control."

IP Group said its stake in Oxford Nanopore is currently valued at £340.3 million ($467 million), putting the total company value at £2.27 billion ($3.11 billion).

In 2019, the most recent year for which financial results are available, Oxford Nanopore reported £52.1 million in revenues, driven by sales of sequencing devices and flow cells, and an after-tax loss of £72.2 million. That year, the company invested heavily in its commercial and operational growth and opened a new manufacturing facility, and its headcount grew to nearly 470 employees.

Oxford Nanopore has raised £613 million to date, starting with two rounds of seed funding from IP Group in 2005. Last year, the company raised a total of £162.8 million in three tranches from global investors. These included £29.3 million recorded in January, a £48.4 million round in May, and an £84.4 million round in October. Investors included International Holdings Company (IHC) in the United Arab Emirates and UK pension fund RPMI Railpen.

An announcement about the IPO plans posted on the nanopore sequencing firm's website was unavailable to viewers in the US and other jurisdictions, and Oxford Nanopore declined to provide a copy of its announcement or additional comment.

The Scan

Call for a Different Tack

Experts weigh the value of recent experiments testing genetically modified pig kidneys using brain-dead individuals, according to Nature News.

Wastewater Warning

The New York Times reports that wastewater surveillance in some parts of the US point to a possible surge.

Can't Get in the Program

Due to the Northern Ireland protocol dispute, the European Union is preventing UK researchers from joining the Horizon Europe research program, the Times of London reports.

Science Paper on Spatial-Controlled Genome Editing

In Science this week: approach to enable a CRISPR-Cas13a-based system to be used as a cancer therapy.