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Oxford Nanopore Technologies to Raise £300M in IPO, Including £150M Investment by Oracle

NEW YORK ­– Oxford Nanopore Technologies said on Thursday that it intends to raise gross proceeds of approximately £300 million ($413.1 million) in its planned initial public offering.

In a filing with the London Stock Exchange notifying its intention to float, Oxford Nanopore said that in addition to new shares, it will have a secondary offering of existing shares to be sold by certain current shareholders.

The company also said that it has signed a strategic partnership and cornerstone investment agreement with software giant Oracle, which will subscribe for £150 million in new shares at the yet-to-be-determined offering price.

Oxford Nanopore said it expects admission of its shares early next month. The company filed a registration document for its IPO with the LSE last week.

"Oxford Nanopore's innovative sequencing technology is unparalleled in the market for its ability to generate rich, accurate genomic data at any scale, from handheld devices to ultra-high output installations," Mike Sicilia, executive VP of Oracle Vertical Industries, said in a statement. "By integrating genomic data into our existing applications and cloud infrastructure solutions, we can get these powerful tools into the hands of more people to solve critical health issues faster and improve patient outcomes to usher in a new era of genomic breakthrough."

Oracle and Oxford Nanopore have launched a collaboration to explore the use of Oracle cloud infrastructure with genomic sequencing in epidemiology, whole-genome sequencing, healthcare, and drug discovery.

Moreover, they will integrate Oxford Nanopore's sequencing capabilities and data into Oracle's portfolio of healthcare and life sciences applications, including clinical trial data services.

Oxford Nanopore first announced its intention to go public in March, targeting an IPO in the second half of this year. In May, the company raised £195 million from new and existing investors. IP Group, its largest shareholder, said this week that as of June 30, it valued its 14.4 percent stake in Oxford Nanopore at £359 million, suggesting a total valuation of £2.49 billion for the company.

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