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Oxford Nanopore announces £70 million ($109 million) fundraising
Begbroke alumni: 21 July, 2015. Oxford Nanopore Technologies Ltd, the UK-based technology company that has designed and produced the world’s first DNA sequencer based on nanopore sensing, making it commercially available in 2014, has raised £70 million ($109 million) in new funding through a private placement of ordinary shares. Both new and existing investors in the UK, US and mainland Europe subscribed to the fundraising to support the Company’s development and commercialisation of electronic molecular analysis systems.
Funds will be used to support improvements to the Company’s existing range of products and services and to further develop and expand its innovative pipeline. Manufacturing and commercial activities will be expanded.
This transaction brings the total funds raised by the company to £251 million.
Oxford Nanopore was founded on the science of Professor Hagan Bayley of the University of Oxford in 2005, and was based at Begbroke Science Park from 2007-2009. The company now employs a team of more than 150 people including scientists, engineers, informaticians, manufacturing and commercial specialists. Headquartered in Oxford, UK, the Company also has employees in Cambridge (UK), New York and Boston.
For more information visit their website.