Oxford Nanopore Technologies Ltd., an Oxford, UK-based developer of a technology platform for direct, electrical detection and analysis of single molecules, has raised £17.4m (approximately $28m) 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 capital infusion will be used to accelerate the 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, the proceeds will be directed to the Oxford Nanopore’s lead project in DNA sequencing and to start early work in protein analysis. Both projects utilise common elements of this modular platform.