Oxford Nanopore Technologies听has revealed plans to听float on the London Stock Exchange听later this year while appointing a CFO and General Counsel.听
The firm, spun out of Professor Hagan Bayley鈥檚 University of Oxford lab, has developed a real-time DNA/RNA sequencer and can assist with accurate, rapid testing in cancer and infectious disease.听
Oxford Nanopore’s sequencing devices are being used in scientific research worldwide, and increasingly in regulated environments such as healthcare and food safety.听听
The technology is being used for epidemiology and research purposes in the听COVID-19 pandemic, helping to track听mutations of听coronavirus听as they spring up around the world.听It has also听developed a听diagnostic test to identify the presence of the virus which causes COVID.听
An announcement signed by CEO听Dr Gordon Sanghera on the firm鈥檚 website听said it plans to IPO in the second half of the year.听
鈥�Oxford Nanopore is driven by a clear ambition: to be a global company that enables the analysis of anything by anyone, anywhere,鈥� it听continued.听鈥�Our disruptive approach is designed to make biological analysis better, faster, and more accessible听and听affordable.听
鈥�Scientists are using our DNA/RNA sequencing technology to answer some of society鈥檚 most urgent and important questions, including those concerned with biomedical, pathogen, plant and animal scientific research, infectious disease, critical viral surveillance, optimising crop efficiency, ensuring food security and understanding how our environment is changing.听
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鈥�We believe that an IPO is the start of the next phase of our journey. Gaining access to deeper, international pools of capital would support our ambitious growth plans, enhancing our ability to innovate and scale our manufacturing and commercial functions.听听
鈥�It would, we believe, provide us with the resources and flexibility to fulfil our long-term potential.鈥�听
The company serves thousands of customers across a wide range of scientific communities, in more than 100 countries around the world. It has around 1,350 patents and applications and has raised more than 拢500m听funding to date.听
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Tim Cowper听will take on the听role of Chief Financial Officer,听while听Jordan Herman has joined as General Counsel.听听
Cowper was interim Finance Director at Oxford Nanopore for several months in 2009, handing over听a stable and well documented finance infrastructure. He then joined Oxford Nanopore as Commercial Operations Director in 2012.听
In his first five years at the company听Cowper听was responsible for setting up and managing operations and infrastructure across the company.听He was听appointed as VP-Finance in 2017.听
Herman听was a partner at Baker Botts L.L.P., where he听served Oxford Nanopore听as听outside counsel for over a decade.听听
鈥淲e鈥檙e delighted to announce that Tim will be taking on the important role of CFO, and to welcome Jordan to the company after working with him for so long as external counsel,鈥� said Sanghera.听听
鈥淭hese new roles add strength to the company鈥檚 corporate team as Oxford Nanopore continues its rapid expansion.鈥�听