IP Group PLC Amgen invests £50m in Oxford Nanopore Technologies

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 
                                         [phone] 
 Alan Aubrey, Chief Executive Officer 
  Greg Smith, Chief Financial Officer     [phone]/+44 (0) 
  Liz Vaughan-Adams, Communications       7979 853802 
 Charlotte Street Partners 
 Andrew Wilson                           [phone] 
 Martha Walsh                            [phone] 
 Tom Gillingham                          [phone] 
 

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRAFKFDDKBDDBKD

(END) Dow Jones Newswires

October 18, 2018 09:00 ET (13:00 GMT)