24th Jan 2014 11:22
LONDON (Alliance News) - Intellectual property business IP Group PLC Friday said the MinION Access Programme carried out by its portfolio firm Nanopore Technologies Limited was heavily oversubscribed.
The MinION Access Programme is a substantial but initially controlled programme designed to give life science researchers access to nanopore sequencing technology at no risk and minimal cost.
IP Group has a 19.6% stake in Oxford Nanopore, which is a spin-out company from the University of Oxford that specialises in nanopore-based electronic molecular analysis systems.
"The programme was heavily oversubscribed and Oxford Nanopore will now review these applications and subsequently issue invitations to a number of applicants to join the first wave of MAP," Oxford Nanopore said in a statement on its website, the firm said in a statement.
The stock was trading at 168.21 pence Friday morning, down 6.79 pence or 3.9%.
By Anthony Tshibangu; [email protected];
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