Oxford Nanopore has continued its funding streak with another $108m, bringing this year's haul to more than $208m and its overall total to around $800m.
Oxford Nanopore, a UK-based genetic sequencing technology spinout of University of Oxford, obtained £84.4m ($108m) in funding today from a consortium including pension fund manager RPMI Railpen.
The deal was backed by a group of new and existing investors including diversified holding group International Holdings Company.
Founded in 2005, Oxford Nanopore produces DNA and RNA sequencing technologies used for medical research and diagnostics in addition to applications in environmental, plant and animal science.
The offering includes a rapid test for detecting Sars-Cov-2, the coronavirus that leads to covid-19.
Oxford Nanopore’s technology is able to sequence nucleic acid samples of any length by passing ionic currents through protein nanopores.
The approach limits the need to manually stitch together shorter samples that conventional sequencers produce – a process known as variant calling.
Oxford Nanopore will use the funding to promote R&D and to expand its manufacturing…
