The University of Oxford DNA processing spinout tapped a consortium of unnamed investors in a round which also includes $106m in secondary funding.
Oxford Nanopore, a UK-based genetic sequencing technology spinout of University of Oxford, attracted £29.3m ($38.5m) of funding on Thursday from undisclosed new and existing investors in the US, Europe and Asia-Pacific.
Existing investors additionally sold $106m in a secondary transaction, including $28.9m in shares sold by commercialisation firm IP Group, which now owns 16.4% interest at a valuation of around $347m.
According to the Telegraph, the secondary element included 12% disposed by defunct investment firm Woodford Investment Management and its Woodford Patient Capital Trust, now under the stewardship of asset management firm Schroders.
IP Group anticipates a fair value gain of about $15.8m from the transaction compared with its position at Oxford Nanopore’s last funding round in March 2018.
Previous reports suggested Oxford Nanopore hoped to assemble about $2.1bn in a planned private placement, though this was never officially confirmed.
Founded in 2005,…
