IP Group PLC Amgen invests £50m in Oxford Nanopore Technologies
19 October 2018 - 12:00AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
18 October 2018
FOR RELEASE ON 18 October 2018
IP Group plc - Amgen invests GBP50m in Oxford Nanopore
Technologies
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes that
Amgen (NASDAQ:AMGN) has announced an equity investment of GBP50
million into portfolio company Oxford Nanopore Technologies Limited
("Oxford Nanopore" or "the Company").
The investment will be effected through the purchase of GBP50
million of existing ordinary shares in Oxford Nanopore at the same
price as the Company's primary GBP100 million fundraising announced
in March 2018 that saw new investment from GIC (Singapore), China
Construction Bank International (CCBI, China) and Hostplus
(Australia).
Amgen noted that the investment in Oxford Nanopore aligns with
its strategic focus on using human genetics to deliver new
medicines to patients. Amgen subsidiary deCODE Genetics, a world
leader in human genetics, uses Oxford Nanopore's sequencing
technologies to conduct genome research, including the
identification and validation of new targets.
Alan Aubrey, Chief Executive of IP Group plc, said: "Amgen is a
world leader in using genetic data to inform drug discovery so it
is encouraging to hear how Oxford Nanopore's technology is helping
enable this. This investment is a tremendous validation of nanopore
sequencing and reflects the significant progress that has been made
by Oxford Nanopore over the last year."
Kári Stefánsson, founder of deCODE Genetics, noted that Oxford
Nanopore's long-read sequencing capability "creates a window into
parts of the genome that have been out of reach, as well as giving
us a much better handle on structural variants that confer risk of
a wide variety of diseases". He noted that deCODE Genetics has used
Oxford Nanopore technology to sequence "several hundred human
genomes".
IP Group holds an undiluted beneficial stake of 18.3%, valued at
GBP274.1 million, in Oxford Nanopore.
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Alan Aubrey, Chief Executive Officer
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
Andrew Wilson +44 (0) 7810 636995
Martha Walsh +44 (0) 7876 245962
Tom Gillingham +44 (0) 7741 659021
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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END
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