TIDMONT
RNS Number : 6527Q
Oxford Nanopore Technologies plc
19 October 2023
Oxford Nanopore Technologies plc
Capital Markets Day
19 October 2023
Oxford Nanopore Technologies plc (LSE: ONT) (the "Company" or
"Oxford Nanopore"), the company behind a new generation of
nanopore-based molecular sensing technology, will host a Capital
Markets Day event this afternoon, 19 October 2023.
Chief Executive Officer Dr Gordon Sanghera will be joined by a
diverse range of senior leaders from across the Company to provide
further detail on Oxford Nanopore's short-to-medium and
medium-to-long term growth strategies and the pathway to adjusted
EBITDA breakeven by the end of 2026.
Gordon Sanghera, Chief Executive Officer, commented:
"Since our IPO two years ago, we've delivered strong,
above-market growth relative to our peers, and today we are excited
to talk about our next phase and our long-term vision. Our blend of
highly differentiated technology and unique commercial strategy has
primed us to achieve our objectives in the Life Science Research
Tools sector in the short-to-medium term. We are committed to
ongoing delivery in this important sector.
Today also marks an important transition for Oxford Nanopore as
we introduce our medium-to-long term strategy to meet unmet needs
in the clinical and applied markets. We look forward to sharing our
bold vision to serve healthcare and industrial markets of the
future. "
The presentations will outline:
-- A sustainable high-growth financial strategy , balancing
disciplined financial management alongside ambitious growth goals
to reach adjusted EBITDA breakeven by the end of 2026.
-- Driving growth in the near-to-medium term, with substantial
opportunity in the Life Science Research Tools (LSRT) market.
Combining product innovation with a differentiated commercial
strategy.
-- Clear steps forward into clinical and applied markets for the
medium-to-long term with the right technology, regulatory and
go-to-market strategies. Leadership will contextualise recent
announcements that highlight its push into the clinical and applied
markets (total addressable market of >$150bn) where nanopore
sequencing can meet unmet needs:
o The Company will provide an update on products in Oxford
Nanopore's portfolio to serve regulated markets.
-- Showcase its go-to-market strategy for these emerging target
markets, in particular its partnership approach.
-- Review how its technology is placed to address unmet needs in
clinical, diagnostic and applied markets.
o Today, Mayo Clinic and Oxford Nanopore unveiled a multi-year
joint development collaboration to develop new clinical tests for
diseases and improve patient care.
o The Company announced an investment from bioMérieux to
strengthen the relationship between the two companies, further
aligning with Oxford Nanopore's increasing focus on clinical
markets through a separate partnership announced in April this
year. This investment will support development for products in
Oxford Nanopore's portfolio to serve IVD markets in conjunction
with bioMérieux's commitment to advancing global public health.
-- Product innovation pipeline, showcasing how highly
differentiated nanopore sequencing technology will continue driving
new standards and expectations in DNA/RNA sequencing by providing
richer information, faster and more accessibly and affordably.
-- An operational strategy to meet the demands of sustainable
high growth. Focused on improving manufacturing operations and
in-house processes to improve product quality and assurance and
drive margin expansion. Additionally supported by a clear pathway
to transform the global service function to deliver a world-class
customer experience.
On 6 September 2023 the Company published its half-year results
highlighting strong momentum to round out 2023. The Company
reported that underlying Life Science Research Tools (LSRT) revenue
was up 46% on a constant currency basis driven by high quality,
recurring consumables revenue and new customer acquisition. LSRT
gross margin was up 280 basis points driven by improvements to flow
cell margins from optimised manufacturing techniques and
efficiency.
Capital Markets Day details
The Capital Markets Day is for institutional investors and
sell-side analysts. Presentations will start today at 13:00. Doors
will open at noon for product demonstrations. Places are limited so
if you would like to attend in-person please contact
IR@nanoporetech.com.
There will also be a live webcast for attendees who wish to join
the event virtually, available
https://nanoporetech.com/about-us/investors/reports .
A copy of the presentation will be available on Oxford
Nanopore's website after the event with the on-demand webcast
available on Friday via the same link.
[ENDS]
For further information, please contact:
Oxford Nanopore Technologies plc
Investors: ir@nanoporetech.com
Media: media@nanoporetech.com
Teneo (communications adviser to the Company)
Tom Murray, Olivia Peters
+44 (0) 20 7353 4200
OxfordNanoporeTechnologies@teneo.com
About Oxford Nanopore Technologies plc:
Oxford Nanopore Technologies' goal is to bring the widest
benefits to society through enabling the analysis of anything, by
anyone, anywhere. The company has developed a new generation of
nanopore-based sensing technology that is currently used for
real-time, high-performance, accessible, and scalable analysis of
DNA and RNA. The technology is used in more than 120 countries, to
understand the biology of humans, plants, animals, bacteria,
viruses and environments as well as to understand diseases such as
cancer. Oxford Nanopore's technology also has the potential to
provide broad, high impact, rapid insights in a number of areas
including healthcare, food and agriculture.
For more information please visit: www.nanoporetech.com
Forward-looking statements
This announcement contains certain forward-looking statements.
For example, statements regarding expected revenue growth and
profit margins are forward-looking statements. Phrases such as
"aim", "plan", "expect", "intend", "anticipate", "believe",
"estimate", "target", and similar expressions of a future or
forward-looking nature should also be considered forward-looking
statements. Forward-looking statements address our expected future
business and financial performance and financial condition, and by
definition address matters that are, to different degrees,
uncertain. Our results could be affected by macroeconomic
conditions, the COVID-19 pandemic, delays in our receipt of
components or our delivery of products to our customers,
suspensions of large projects and/or acceleration of large products
or accelerated adoption of pathogen surveillance. These or other
uncertainties may cause our actual future results to be materially
different than those expressed in our forward-looking
statements.
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