23rd Oct 2013 13:03
LONDON (Alliance News) - IP Group PLC Wednesday said one of its portfolio companies, Oxford Nanopore Technologies Limited, is to allow science researchers to test its new DNA, RNA and Protein sequencing device, in a move that will help to assess and develop the system over time.
IP Group shares were Wednesday quoted up 9.2% at 154.59 pence at 1355 BST, making it the second biggest gainer on the FTSE 250.
Analysts at Numis said the news is an important milestone for Oxford Nanopore, lifting the valuation of the company to USD2.0 billion from USD1.5 billion.
Oxford Nanopore, which earlier in October raised GBP40 million in new funding through a private placement of shares, said a substantial number of selected participants will receive a MinION Access Programme package.
Scientists will be able to register to receive the sequencer starting in late November at minimal cost, with Oxford Nanopore. The scientists will pay a USD1,000 deposit, as well as shipping costs, which Oxford Nanopore will refund after the equipment is returned.
IP Group has a 19.6% undiluted beneficial stake in Oxford Nanopore, valued at GBP104.3 million.
By Samuel Agini; [email protected]; @samuelagini
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