Oxford Nanopore, the UK-based DNA sequencing technology spinout of University of Oxford, has secured software producer Oracle as a cornerstone investor for its initial public offering on the London Stock Exchange.
Oracle will invest £150m ($205m), a commitment representing half of the $410m target Oxford Nanopore has set for the offering.
The companies have also entered into a partnership to explore potential applications for genomic sequencing running on Oracle’s cloud. They expect to tackle large-scale projects spanning drug discovery, healthcare, epidemiology and whole-genome sequencing.
Oxford Nanopore has created DNA and RNA sequencing technology that generated deal analytics in real time. Its technology is fully scalable from handheld devices for use in the field through to benchtop products and population-scale platforms.
Mike Sicilia, executive vice-president of Oracle Vertical Industries, said: “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.
“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.”
The company has raised more than $1bn in funding and was valued at $3.4bn in a $270m round in May this year, when imaging technology producer Nikon, IP Group, Temasek, Wellington Management and M&G Investment all invested alongside unnamed existing backers.
Amadeus Capital Partners had bought $24m of shares in a secondary transaction three months earlier. Oxford Nanopore pocketed $108m from RPMI Railpen and new and existing investors including diversified holding group International Holdings Company in October 2020.
Internet group Tencent reportedly took part in a $98.1m round the company closed in May 2020. Pharmaceutical firm Amgen, genomics technology provider Illumina, China Construction Bank, GIC, GT Healthcare, Hostplus, Invesco Perpetual, Lansdowne Partners, Odey Asset Management and Top Technology Ventures are also investors.
BofASecurities, Citigroup Global Markets, and JP Morgan Securities are the joint global coordinators for the proposed offering, while Barclays, Berenberg, Guggenheim Securities, Numis Securities and RBC Europe are the joint bookrunners.
The original version of this article appeared on our sister site, Global University Venturing.
