The company, which aims to build on the 2.4 billion pound valuation it achieved in its latest funding round, has recently entered into a memorandum of understanding with Oracle Corporation,whereby the two companies will explore a number of potential new solutions to address opportunities in the applied and clinical markets, and related go-to-market strategies.
As part of this collaboration the Group intends to migrate its EPI2ME data analysis platform to Oracle’s cloud infrastructure for customers in the applied and clinical markets. The collaboration is intended to draw on the Group’s strengths in sequencing and genetic analysis, together with Oracle’ss trengths in database and cloud technologies.
Separately, the company and a vehicle controlled by Oracle have entered into a cornerstone investment agreement to subscribe for £150 million of New Shares at the Offer Price.
Nanopore has said the offer will comprise a primary offer of new shares to be issued by the company, which is expected to raise gross proceeds of approximately £300 million, and a secondary offer of existing shares to be sold by certain existing shareholders. The company is targeting a free float of at least 25 per cent of its issued share capital at Admission.
The Directors believe that the Group remains only in the early stages of what is possible and believe that the Offer and Admission will position the Group for the next stage of its development and support its ambitious growth plans, driven by the desire to be a global company that enables the analysis of anything, by anyone, anywhere.