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(Alliance News) - IP Group PLC on Tuesday said portfolio company Oxford Nanopore Technologies Ltd has raised GBP195 million.
IP said GBP125 million of the cash has come from new investors, including M&G Investments. Existing investors contributed GBP70 million of the total.
London-based IP Group committed GBP18.7 million during the funding round. It has just shy of a 15% stake in Oxford Nanopore. The holding is valued at GBP359 million.
Oxford Nanopore Technologies was formed in 2005 as a spin-out from Oxford University. It is a technology commercialisation company focused on DNA and RNA strand sequencing.
IP Group shares were 1.1% lower at 127.00 pence each in London on Tuesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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