In a show of confidence in the biotech sector, Oracle has made a significant investment of £150m in the upcoming London float of British biotech company, Oxford Nanopore. This move solidifies Oracle’s role as a cornerstone investor and sets the stage for a promising partnership.
Founded in 2005, Oxford Nanopore specializes in the development of portable kits for DNA sample analysis, with a particular focus on tracking new diseases. With its technology already responsible for approximately 20% of global coronavirus sequencing, the company has been recognized as a key supplier of Covid testing kits to the NHS.
Analysts estimate that Oxford Nanopore could be valued at around £3bn or potentially higher, up to £4.5bn. This reflects the company’s growing influence and potential within the biotech industry. Notably, the top executives of Oxford Nanopore are expected to hold shares worth over £100m as a result of this deal.
As part of the agreement, Oracle will provide digital infrastructure and data services to support Oxford Nanopore’s operations. This investment of £150m will play a significant role in the company’s plan to raise £300m through its upcoming listing in the London stock market.
During the listing, Oxford Nanopore aims to achieve a free float of approximately 25% of its shares, allowing existing investors to sell a portion of their holdings. This move not only facilitates liquidity but also showcases the company’s commitment to openness and collaboration.
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