Dr Gordon Sanghera of Nanopore Technologies with machines used to purify proteins produced by specially-programmed bacteria Richard Cannon for The TimesA technology business that makes innovative gene-reading devices appears to have increased its valuation by up to £200 million to £1.7 billion in an unusual capital-raising announced yesterday. Oxford Nanopore Technologies has been hailed as one of Britain’s most promising unicorns, a private company worth more than $1 billion. It said it raised £29.3 million in new capital as well as facilitating secondary sales of £80.2 million of its shares. The funding round gave a partial exit to at least one of the funds formerly managed by Neil Woodford, who was a major backer of Nanopore. His old Equity Income fund, which is in the process of being liquidated, used it to sell down part of its holding, according to sources familiar with the deal.

Source: The Times January 03, 2020 00:00 UTC