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Oxford Nanopore Technologies announces £17.4 million ($28 million) fundraising
- proceeds to fund further development of platform technology, for DNA sequencing and initial work in protein analysis -
1st February 2010, Oxford, UK. Oxford
Nanopore Technologies Ltd., a privately held company that is developing
a disruptive technology platform for the electronic, label-free analysis
of single molecules, today announced that it has raised £17.4 million ($28
million) in new funding. The round was funded by existing investors including
Lansdowne Partners, IP Group and Invesco Perpetual, new undisclosed US
institutions and the Company’s DNA sequencing marketing partner Illumina UK
Ltd. The Company has previously raised £32 million since its
formation in 2005. The proceeds will be used for accelerated development of the
Company’s proprietary platform technology, which uses real-time electronic
measurement of current through small holes (nanopores) to identify molecules of
interest as they interact with the nanopore. In addition to the development of the core platform
technology, funding will be directed to the Company’s lead project in DNA
sequencing and to start early work in protein analysis. Both projects utilise
common elements of this modular platform. “This new investment recognises our progress in 2009 and
highlights the potential impact of our nanopore-based sensing platform. We are
delighted to have strong support from our existing shareholders and this
important vote of confidence from new ones,” said Dr Gordon Sanghera, CEO
of Oxford Nanopore. “The common elements of our technology platform are now
developed enough to merit exploring new applications. In addition to
our lead programme in DNA sequencing we are now initiating a project in
nanopore protein analysis. This exploits the value of a platform
technology; we are aiming to add substantial shareholder value with only
incremental investment.” -ends- About Oxford Nanopore Technologies Oxford Nanopore Technologies Ltd is developing a
revolutionary technology for direct, electrical detection and
analysis of single molecules. The platform is designed to offer market-disrupting
benefits in a variety of applications. Oxford Nanopore was founded in 2005 on the science of
Professor Hagan Bayley of the University of Oxford. The Company has
built additional collaborations with world leading nanopore researchers and has
a robust IP position for nanopore sensing. The Company’s lead application is DNA sequencing,
but the platform is also adaptable for protein
analysis for diagnostics and drug development and identification of a
range of other molecules for security & defence
and environmental monitoring. The technology is modular and
highly scalable, driven by electronics rather than optics. Oxford Nanopore’s first generation of DNA sequencing
technology uses a protein nanopore combined with a processive enzyme,
multiplexed on a silicon chip. In contrast to current optical DNA
sequencing systems, this method is electronic and label-free. This
eliminates the need for fluorescent labels and optical hardware for a potential
step-change in speed, cost and versatility.Future generations of nanopore sequencing
may interrogate single strands of DNA and may use 'solid-state' nanopores for
further improvements in speed and cost. The Company will now start to exploit the modular nature of
its nanopore technology platform by exploring its application to protein analysis. Current
methods of protein analysis may be complex or expensive and may not deliver all
the required information about the analyte. Technologies typically
used in research and in the clinic may include mass spectrometry or immunoassays. The
use of nanopores in combination with ligands (molecules that can bind
specifically to a site on a target protein) for protein analysis has the
potential to provide rich, real-time information to the user.
For more information visit www.nanoporetech.com.
