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Oxford Nanopore gets $270 million in fresh funding ahead of IPO

By Reuters

LONDON (Reuters) – Oxford Nanopore has raised 195 million pounds($270.72 million)in new investment ahead of its planned initial public offering due later this year, its backer IP Group said in a statement on Tuesday.

IP Group, which holds a 14.5% stake in Oxford Nanopore, said Singapore state investor Temasek, Wellington Management, M&G Investments and Nikon had put in 125 million pounds in fresh investment into the life sciences company with existing investors contributing 70 million pounds.

Oxford Nanopore is expected to list on the London stock market in the second half of this year, with sources telling Reuters last month it had appointed banks to manage the process.

IP Group said its stake in Oxford Nanopore is now worth 359 million pounds, giving the company an overall valuation of 2.48 billion pounds.

($1 = 0.7203 pounds)

(Reporting by Rachel Armstrong; editing by John O’Donnell)