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Oxford Nanopore Technologies Raises £109.5M

NEW YORK – Oxford Nanopore Technologies said Thursday it has raised a total of £109.5 million ($144.4 million) between new capital investments and the sale of secondary shares.

The privately held, UK-based firm said it raised £29.3 million in capital and sold £80.2 million in shares. The investors include both new and existing shareholders from the US, Europe, and Asia/Pacific regions, the firm said in a statement.

Other details, including how the firm plans to use the proceeds, were not disclosed.

Oxford Nanopore said it has raised approximately £480 million to date. In October 2018, the firm announced that Amgen would take a £50 million stake, or approximately 3 percent of the firm at the time, giving it a £1.5 billion valuation.

In July 2019, Oxford Nanopore announced 2018 revenues of $43.7 million, up from $17.8 million in 2017.

In a tweet following the announcement, Oxford Nanopore CTO Clive Brown suggested that the minimum amount needed to invest in the firm is $20 million.