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15 August 2014

Oxford Nanopore secures $58m in fundraising

Oversubscribed, the fundraising via private placement brings in £35m.

Author: Thierry Heles, reporter

Oxford Nanopore, a spin-out of Oxford University, has secured £35m ($58m) in a fundraising via private placement of ordinary shares. The fundraising was oversubscribed and included both existing and new investors in the US, the UK and the rest of Europe.

Oxford Nanopore’s total funding since its incorporation in 2005 stands at £180m ($300m). It has held 9 rounds, including 5 private equity rounds as well as a series A, B, C and D.

 IP Group purchased ordinary shares for £5m ($8.34m) and now holds an undiluted beneficial stake of 19.9%. It has a value of £128.3m ($214m) – up by £17.8m ($29.7m).

Oxford Nanopore Technologies is working on nanopore-based electronics. Nanopores are tiny holes which are commonly used in synthetic materials such as silicone or graphene. The spin-out is using the technology to analyse single molecules, including DNA, RNA and proteins. Its devices have wide-ranging applications in scientific research, personalised medicine, crop science, security and defense, and environmental applications.

The company has more than 350 patents and patent applications.

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