IP Group PLC Oxford Nanopore funding round and contract win
13 Ottobre 2020 - 8:00AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
13 October 2020
FOR RELEASE ON 13 October 2020
IP Group plc - Portfolio company Oxford Nanopore Technologies
announces GBP84.4m of additional funding
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes that its
portfolio company Oxford Nanopore Technologies Ltd ("Oxford
Nanopore" or "the Company") has announced that it has raised an
additional GBP84.4 million of new capital from existing and new
investors including International Holdings Company (IHC) and RPMI
Railpen.
The funds will be used to support the rapid acceleration of
Oxford Nanopore's commercial and manufacturing operations as well
as ongoing innovation in the field of nanopore technology. The
round takes the amount raised this year by Oxford Nanopore to
GBP162.1 million, following fund raisings in January and May of
GBP29.3 million and GBP48.4 million respectively.
Following the capital raise, IP Group has a 15.0% undiluted
beneficial stake in Oxford Nanopore, valued at GBP257.7 million.
The directors will review the carrying value of Oxford Nanopore, as
usual, as part of the Group's Annual Results for 2020 in light of
this funding round and all other relevant information.
Last week, Oxford Nanopore announced that its LamPORE test is
now CE marked for in vitro diagnostic use for the detection of the
SARS-CoV-2 virus that causes COVID-19, using its GridION device.
Its LamPORE test is now in the process of initial rollouts in the
UK, Germany, Switzerland and the United Arab Emirates.
The Company previously announced that it had partnered with the
UK's Department of Health and Social Care with an initial order of
450,000 LamPORE SARS-CoV-2 tests and the potential to increase to
millions of tests per month as indicated by the recent publication
of a contract award notice of GBP112.6m on the TED (Tenders
Electronic Daily) website. Further regulatory approvals are being
pursued in other countries, including Emergency Use Authorisation
in the United States, and with its partner G42 in the United Arab
Emirates.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
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
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com .
ENDS
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