NEW YORK (GenomeWeb) – Oxford Nanopore Technologies has raised £70 million ($109 million) through a private placement of ordinary shares.
The new funding comes from new and existing investors in the UK, the US, and mainland Europe, though the firm didn't name them. Proceeds from the financing round will support the development and commercialization of the firm's electronic molecular analysis systems.
Oxford Nanopore plans to use the additional capital to improve existing products and services, develop and broaden its pipeline, and expand manufacturing and commercial activities.
A year ago, the company raised £35 million from existing and new investors. Including the latest round, it has now raised £251 million in total.