TIDMIPO TIDMTTM
RNS Number : 5098R
IP Group PLC
12 December 2016
FOR RELEASE ON 12 December 2016
IP Group plc - Portfolio company Oxford Nanopore announces
GBP100m fundraising
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
note that its portfolio company, Oxford Nanopore Technologies
Limited ("Oxford Nanopore" or "the Company"), has raised GBP100
million in a new financing round via a private placement of
ordinary shares.
Oxford Nanopore, a technology company that has designed and
sells the world's only portable DNA/RNA sequencer, plans to use the
funds to expand its commercial operations across a range of
territories, including in Asia.
Following completion of the financing round, IP Group's
undiluted beneficial stake of 19.7% in Oxford Nanopore will be
valued at GBP246.3 million, representing an unrealised fair value
gain to the Group of GBP32.5 million. IP Group has committed a
further GBP14.0 million to Oxford Nanopore as part of this funding
round which, combined with secondary shares acquired during the
year, results in an aggregate investment of GBP19.5m in 2016.
The investment round was led by new investor GT Healthcare, a
pan-Asian fund with special reach in China, and existing investor
Woodford Investment Management on behalf of its clients. Other new
and existing investors also participated in the round.
The transaction brings the total funds raised by Oxford Nanopore
since its formation in 2005 to GBP351.0 million.
The information contained within this announcement constitutes
inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014.
The full announcement follows.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer +44 (0) 20 7444 0050
Greg Smith, Chief Financial
Officer +44 (0) 20 7444 0062/+44
Liz Vaughan-Adams, Communications (0) 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiary IP Capital), networks, recruitment and business support.
IP Group has a strong track record of success and its portfolio
comprises holdings in approximately 80 early-stage to mature
businesses across four main sectors -- Biotech, Cleantech,
Healthcare and Technology. The Company is listed on the Main Market
of the London Stock Exchange under the code IPO.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
Oxford Nanopore announces GBP100M / $126M fundraising
12(th) December 2016, Oxford, UK. Oxford Nanopore Technologies
Ltd, the UK-based technology company that has designed and sells
the world's only portable DNA/RNA sequencer, has raised GBP100
million ($126 million) in new funding through a private placement
of ordinary shares. The investment round was led by new investor GT
Healthcare, a pan-Asian fund with special reach in China, and
existing investor Woodford Investment Management on behalf of its
clients. Other new and existing investors including IP Group plc
also participated in the round.
"We will be using these funds to expand our commercial
operations across a range of territories, including in Asia," said
Gordon Sanghera, CEO of Oxford Nanopore. "The active community of
scientists using the MinION has shown that there are myriad
possibilities for real time, scalable DNA sequencing with nanopore
devices. We are looking forward to accelerating the development and
adoption of those applications, towards our goal of enabling the
analysis of any living thing, by anyone, anywhere."
Oxford Nanopore will add resource to production and sales &
marketing for its novel products including MinION (portable DNA
sequencer), PromethION (high-throughput, on-demand sequencer) and
VolTRAX (automated sample/library preparation device). The Company
will also continue to invest in rapid improvement of its existing
products and to further develop and expand its innovative pipeline,
including the mobile-phone compatible SmidgION sequencer.
"We are very excited to be a part of Oxford Nanopore's
revolutionary platform, which fundamentally changes - and shapes -
the landscape of DNA/single molecule sequencing" said Alan Au,
Founder and Managing Partner of GT Healthcare Capital Partners. "We
are thrilled to collaborate with Oxford Nanopore's management team,
with whom we share the same strategic vision; to extend the reach
and accessibility of Nanopore-based sequencing solutions into
emerging markets. We are confident that GT Healthcare and Oxford
Nanopore will work very well collectively to accelerate our
expansion in new markets, particularly the Greater China
markets."
This transaction brings the total funds raised by the company to
GBP351 million.
-ends-
Note: The placement of ordinary shares in the Company under this
fundraising does not constitute an offer of the Company's shares to
the public. No shares in the Company will be offered or sold to any
person except in circumstances which have not resulted and will not
result in an offer to the public.
About Oxford Nanopore
Oxford Nanopore Technologies has developed the world's first and
only nanopore DNA sequencer, the MinION. The MinION is a portable,
real time, long-read, low cost device that has been designed to
bring easy biological analyses to anyone, whether in scientific
research, education or a range of real world applications such as
disease/pathogen surveillance, environmental monitoring, food chain
surveillance, self-quantification or even microgravity biology.
Commercially available since 2015, the MinION is in use by a
thriving community in more than 50 countries, enabling myriad
applications within the traditional laboratory environment and in
the field.
Nanopore sensing technology is fully scalable and the
high-throughput, high-sample number PromethION is currently being
prepared for release in the PromethION Early Access Programme
(PEAP). Oxford Nanopore is focused on making DNA/RNA based analyses
easy enough for any user and so we are working to simplify the
sample preparation and data analysis processes. For sample
preparation this includes a 5-10 minute sample prep kit, and
VolTRAX. VolTRAX, now shipping to early users, is a rapid,
programmable, portable, disposable sample preparation device
designed to convert complex samples (eg samples may come from
blood, saliva, the environment) into a form ready for nanopore
analysis.
Metrichor Ltd offers analysis solutions coupled with nanopore
sensing devices, with the goal of making analyses accessible to
industries or people without bioinformatics skills or even biology
qualifications. 'Applied' markets may include healthcare,
agriculture or the food or environmental industries.
Nanopore devices can be adapted for the analysis of a range of
biological molecules including DNA, RNA and proteins. Supported by
a broad patent portfolio, the Oxford Nanopore pipeline includes
multiple generations of nanopore-based sensing technologies,
including those based on both biological and solid-state
nanopores.
About GT Healthcare
GT Healthcare Capital Partners ("GT") is an Asian based private
investment partnership that specialises in fundamentally-driven
life science investments around the globe that aim to change
technology landscapes.
GT Healthcare strives to help our partners explore and extend
their businesses to the Asian and Chinese markets.
Contact
Zoe McDougall, Communications media@nanoporetech.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 12, 2016 02:00 ET (07:00 GMT)
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