Oxford Nanopore Technologies Ltd, an Oxford, UK-based developer of nanopore-based electronic molecular analysis systems, raised £35m ($59m) in funding.
Both new and existing investors in the UK, US and mainland Europe subscribed to the fundraising. New investors include The CF Woodford Equity Income Fund managed by Woodford Investment Management LLP.
The company intends to use the funds to further develop its commercial and manufacturing infrastructure including scaling up the production and logistics and expanding customer support and application development functions.
In addition the funds will support the R&D operation including its pipeline of scalable nanopore-sensing products to address all parts of the market.
Founded in 2005 and led by Gordon Sanghera, Chief Executive, Oxford Nanopore Technologies is developing nanopore-based electronic systems (The GridION™ system and miniaturised MinION™ device) for analysis of single molecules including DNA, RNA and proteins.
The devices may be used use in scientific research, personalized medicine, crop science, security & defence and environmental applications.
This transaction brings the total funds raised by Oxford Nanopore since its foundation in 2005 to £180m.