Oxford Nanopore launches £3.4 billion IPO on London Stock Exchange

Oxford Nanopore Minion

Oxford Nanopore, which has developed a new generation of sensing technology that uses nanopores – nano-scale holes – embedded in high-tech electronics, to perform precise molecular analyses, has launched its highly anticipated IPO on the London Stock Exchange, pricing the company at £3.4 billion.

Following the confirmation of intention to float announcement on 16 September 2021, Oxford Nanopore announced the successful pricing of its initial public offering at 425 pence per share. The Company’s market capitalisation will be approximately £3.4 billion at the commencement of conditional dealings on the main market of the London Stock Exchange.

Oxford Nanopore’s first products enable the real-time, high-performance, scalable analysis of DNA and RNA and it offers the only sequencing technology to combine scalability from portable to ultra-high throughput formats with real-time data delivery and the ability to elucidate rich biological data through the analysis of short to ultra-long fragments of native DNA or RNA. The sensing platform has the potential to be adapted for the analysis of other types of molecules, for example proteins.

Dr. Gordon Sanghera, Chief of Executive Officer of Oxford Nanopore, said:“Today is a very proud day for the entire Oxford Nanopore team, but we believe we are only in the foothills of a long and exciting journey.We are living on the cusp of the genomic era. I believe that our unique technology will open up many new possibilities for positive impact, both through enabling new discoveries in scientific research, and through more accessible, faster, richer biologicalinsights in health, agriculture, food and understanding environments. I would like to thank all the scientists in our user community, who are performing ground-breaking work in so many places and disciplines, and am hugelyexcited about what is to come.We are delighted by the positive response we have received from investors around the world during this process and look forward to welcoming our new shareholders. Our focus remains on continuing to innovate, grow, and working towards our goal of enabling the analysis of anything, by anyone, anywhere. This IPO bringsus a step closer to being able to fulfil that ambition.”

Alan Aubrey, Chief Executive of IP Group, said: “We’re delighted to see such continued strong global interest in and support for Oxford Nanopore. Since IP Group helped found Oxford Nanopore in 2005, the Company has gone from strength to strength. It is a great example of how IP Group has helped nurture a world-leading company based on scientific research and we’re immensely proud of the team’s achievements.”

Conditional dealings in the shares are expected to commence on the London Stock Exchange at 8:00 am (UK time) on 30 September 2021 under the ticker “ONT”.

Scientists across the world are using its DNA/RNA sequencing technology to answer some of society’s most urgent and important questions, including those concerned with biomedical, pathogen, plant and animal scientific research, infectious disease, critical viral surveillance, optimising crop efficiency, ensuring food security and understanding how our environment is changing.

Oxford Nanopore’s factory at Harwell CampusIn 2019 Oxford Nanopore opened a high-tech manufacturing facility at Harwell Campus designed to scale up high quality production capacity for the coming years.

Gaining access to deeper, international pools of capital will, it says, support its ambitious growth plans, enhancing its ability to innovate and scale our manufacturing and commercial functions.

In 2015, Oxford Nanopore started to sell its first commercial device, the MinION portable DNA/RNA sequencer. Since then, it has expanded its product range to include both even smaller formats and larger high throughput sequencing devices suitable for population-scale human genomics.

The last year has been transformative for Oxford Nanopore Technologies, and includes key highlighters including supporting users around the world to sequence the virus that causes COVID-19, facilitating continual surveillance of the virus. Around a fifth (~170,000) of the SARS-CoV-2 virus genomes in the global database GISAID were generated on one of its devices, with nanopore data uploaded by scientists from more than 85 countries. The role of genomics in infectious disease is now better understood.