Oxford Nanopore Technolo... Share Discussion Threads

[p1nkfish] 23/9/2023 23:17

The new way to test for life on Mars, may well be used on the asteroid samples being gathered. Idea being to see if an asteroid could have helped seed planet earth on ancient impact, if they might carry minute amount of DNA of any type.

Would be interesting if asteroids were like fungal spores in the universe.

[p1nkfish] 23/9/2023 23:14

Probably nothing new bb2. Light shield helps accuracy. Looks like incident light adds noise, something along the lines of a noise voltage or current due to photo sensitivity. Shielding reduces that uncertainty (noise) and helps accuracy. At least that's my interpretation.

[bamboo2] 21/9/2023 12:33

A new way to test for life on Mars
20 September 2023
2023-09-20

The University of Aberdeen

Space scientists have discovered a new process to test for life on Mars and on Earth, using cutting-edge technology to sequence DNA using the tiniest possible sample of DNA mass.

The researchers from the University of Aberdeen’s Department of Planetary Sciences used a MinION DNA sequencer developed by Oxford Nanopore Technologies to detect microorganisms present in tiny amounts of terrestrial soils, and to investigate how they replicate in ambient conditions.

As a result, they have designed a procedure that can detect and characterise soil DNA with as little as 2 picogram of DNA mass (the genome of a single cell of a hummingbird has one picogram of DNA).

The discovery has important implications for studying rock and soil samples taken from Martian and terrestrial landscapes to see if they contain traces of DNA needed to support microbial life.

PhD student Jyothi Basapathi Raghavendra produced the research under the supervision of Professors Javier Martin-Torres and Maria-Paz Zorzano. The research has been published in the journal Scientific Reports.

Professor Martin-Torres said: “There is a slim chance that microbial life exists on Mars today but to find it we need to operate at the sample scale, and that’s where the size and power of the hardware that’s used in space exploration is a crucial factor.

“Using the MinION which offers portability with state-of-the-art technology, we carried out experiments in our clean lab which ensures that testing isn’t affected by background contamination.

“In doing so we successfully found the lowest DNA detection limit of the MinION which proves its value as a powerful tool for searching for microbial life in samples taken from planetary environments.

“This creates exciting possibilities for Martian research, as the size and power of the MinION makes it an ideal candidate for deployment in future exploration missions, using the process we have developed.

“In addition, it could be used in inhospitable environments on Earth such as desert or polar regions, as well as for applications in medicine, pharmacy and chemistry where biological contamination is undesirable.”

Clive Brown, Chief Technology Officer, of Oxford Nanopore said: “Space science offers an important landscape for pushing the capabilities of the Oxford Nanopore platform. This work builds evidence for ultra-low inputs, an important step forward. Sequencing technology could be adapted for extreme applications such as Mars — and beyond — providing the tools needed to study the extra-terrestrial samples. We aim to push the technology even further for when the Mars Sample Return mission returns in 2033.”

[bamboo2] 21/9/2023 12:11

The University of Queensland and Oxford Nanopore Technologies Team up to Accelerate Research Into Quality Control Testing for mRNA Vaccines

"...“Currently, mRNA vaccines and therapies are analysed using a range of different methods that are time-consuming, complicated, and costly, and often outdated,” said BASE mRNA technologies researcher Dr Helen Gunter.

BASE researchers showed how nanopore sequencing can analyse the quality of mRNA vaccines and therapies, in a study published today in Nature Communications.

“By using Oxford Nanopore Technologies sequencing, we can directly analyse each individual mRNA vaccine molecule as it passes through a protein nanopore, providing a real-time measurement of the mRNA sequence identity and integrity,” Dr Gunter said.

This approach could also provide a useful research tool to better understand how mRNA vaccines work by studying how they behave within cells, Dr Gunter said.

Crucially, Dr Gunter said in the future, mRNA vaccines could be analysed in real-time, providing testing within hours of mRNA manufacture so quality control issues could be quickly detected. Such rapid analysis is critical during the rapid manufacture of mRNA vaccines needed during a pandemic — or to support the future development of personalised therapies..."

[brucie5] 19/9/2023 16:19

Second that! Keep up the good work!

[johnwig] 19/9/2023 15:41

You are a good and a diligent poster bamboo! Many thanks.

[bamboo2] 19/9/2023 15:36

Marco, There are some useful projected sales in the recent company figures from 6 Sept. In order to see the company beat these we will need to see adoption of the tech beyond the lab into wider clinical and commercial use.

There are a very large number of ongoing trials with commercial partners and in hospitals in UK, EU and US.

Some of these are now being extended, and it appears at last that the co. is leveraging one of it's greatest advantages, that of real-time base calling. In some cases we have seen acutely unwell patients in ICU's have their infections diagnosed in two to three hours, which for some is life saving.

There are numerous economic benefits to using Nanopore, such as reduced time in ICU beds, and reduction in AMR. Evidence is building very quickly, that the old methods of culture based pathogen ID are a waste of time and resources. Once the concept of using ONT based sequencing for diagnosis becomes accepted, we should see sales start to beat current forecasts.

Genomics England has announced today that ONT has been chosen to run the sequencing for their Rare disease project.

[bamboo2] 19/9/2023 12:56

September 19, 2023 07:32 AM Eastern Daylight Time

OXFORD, England--(BUSINESS WIRE)--Oxford Nanopore sequencing technology has been used by a team led by researchers at the National Institutes of Health Center for Alzheimer's and Related Dementias (CARD), the University of California, Santa Cruz and the National Cancer Institute, to develop a protocol for highly accurate whole human genome sequencing, at scale, that provides a comprehensive view of haplotype-resolved variation and methylation. In a new Nature Methods paper, the team describe how this makes large-scale, long, native DNA sequencing projects feasible due to the lower cost and higher throughput of Oxford Nanopore’s PromethION when compared with alternative sequencing methods.


According to the paper, “cost and scalability have remained prohibitive barriers to the use of long-read sequencing in population-scale studies...Here, we show that it is possible to achieve state-of-the-art small and structural calling performance using only [Oxford Nanopore] reads produced by a single flow cell at high throughput.”

The results with Oxford Nanopore’s Q20+ chemistry included a SNP F1-score of 0.998, and an SV F1-score of 0.978.

The study showed that the latest R10.4.1 flow cells significantly improve reference-based indel calling, which is vital for small variant calling, achieving an F1-score of 0.996 in regions not containing homopolymers or tandem repeats. The paper also describes how with nanopore-based phasing, it is possible to combine and phase small and structural variants at megabase scales, all of which combines to give the clearest picture yet of the whole genome. The study protocol is currently being used to sequence thousands of brain-based human genomes as a part of the NIH CARD initiative.

Base modifications provide critical insights into many biological questions and the paper states how methylation calls “were highly concordant with the standard bisulfite sequencing”, but in addition they could produce reliable haplotype-resolved methylation calls for even greater insight. The methylation data is produced during a standard sequencing run and not as the result of a separate process.

The team used Oxford Nanopore’s high-throughput sequencing device, the PromethION 48, which is capable of sequencing over 49001 genomes per year delivering scalability for large projects. Combined with the latest chemistry, Kit 14 and R10.4.1 flow cells, Oxford Nanopore now delivers the most complete and accurate genomic data, at scale. This combines very high single-molecule accuracy with the ability to reach all parts of the genome and characterise all types of genetic variation, through the ability to sequence any length fragments of native DNA/RNA.

The CARD initiative supports basic, translational, and clinical research on Alzheimer’s disease and related dementias. The CARD project aims to address the significant unmet needs in Alzheimer’s research by identifying the underlying mechanisms of disease and ageing, and to support the development of new interventions to delay or prevent disease progression.

Gordon Sanghera, CEO, Oxford Nanopore Technologies, commented:

“We are delighted to see this latest work from the NIH CARD team, whose approach demonstrates breakthrough accuracy with Oxford Nanopore’s newest Q20+ chemistry and the R10 nanopore, whilst using the same device. This shows that Oxford Nanopore now delivers comprehensive and accurate genomic data, at scale. We congratulate all the fantastic scientists that have contributed a huge amount to this significant project.

It’s fantastic to see this protocol being used in the CARD programme’s work in Alzheimer’s disease. As the paper states, a substantial part of the variation in the human genome is not accessible with short-reads, so we know that what’s missing matters. We look forward to seeing the outcomes and impact of the CARD programme in due course.”

[p1nkfish] 19/9/2023 12:26

Right products (simple to use) at right price (cheaper) and market pull will be substantial imho and easier to push too. CAGR could well be higher for market as a whole than the 14.7% (that's too precise) and long read is coming from a low base, hence the 30%.

[p1nkfish] 19/9/2023 12:23

Long read was about 455$M in 2022 with expected 30% CAGR.

There is market pull and reduced cost will help push so 2022 figures are a moving target. Expect easily able to support Ox Nano at a higher valuation in 5 yrs.

"According to Precedence Research, the global DNA sequencing market size is expected to be worth around US$ 37.99 billion by 2032 and was valued US$ 9.69 billion in 2022. What is the CAGR of DNA sequencing market? The global DNA sequencing market is growing at a CAGR of 14.7% over forecast period 2023 to 2032."

[marcosspam] 19/9/2023 10:57

Thanks very much for your informed and useful inputs Bamboo. I'm wholly bought-into ONT having world-class technology and products [your insights most valuable here!]. What I'm unable to get a handle on is the size of the business opportunity they are chasing ie is there a big enough potential market to justify the current valuation and the hoped-for growth in the share price?? Have you seen any metrics anywhere [simple market share or product times price stuff] that helps us to understand potential growth?

[bamboo2] 19/9/2023 10:23

Twittex just now...

chris_wigley

Excited that we’re announcing today our Genomics England partnership with nanopore to Long-Read sequence 7,500 rare disease participants in order to increase diagnostic rates and treatment opportunities

[bamboo2] 18/9/2023 19:32

ONT is strongly represented in many of the talks at Genomics England Research Summit, all day tomorrow, 19/9/23

[...] h ttps://www.genomicsresearchsummit.co.uk/

They will likely be on youtube later on.

[bamboo2] 15/9/2023 08:23

Market doesn't see the news about the new protocol as significant, yet this directly addresses the larger S3 type users.

=============================

New High Duplex 10.4 Flowcells are being shipped out to early adopters.

Expectations are high, for example, on twittex Taco Jesse saying...

"First focus for a max DuplexRead output in the ~18 to 30 Kb range with the aim to make PacBio obsolete."

While Albert Vilella offers the following economic justification...

"Based on the Revio numbers “on the field” and the P24 PromethION instrument with R10.4HD flowcells (currently in early access), a Revio produces 240Gb at Q30+, compared to the 480Gb at Q30+ on the ONT P24 machine. The Revio is at $19.90/Gb of Q30+ data, whereas given the new pricing by ONT introduced a few months ago, the P2/P24/P48 PromethION flowcells produce Q30+ data at a cost of $10/Gb, so half the price of the Q30+ PacBio data."

Use link for whole post...

[bamboo2] 15/9/2023 07:46

This new set of protocols and pipelines will enable other labs around the world to make a much more straight forward transition to using ONT gear.

============================================

New protocols make long-read sequencing feasible on larger scale



September 14, 2023

By Rose Miyatsu

Researchers at UC Santa Cruz’s Computational Genomics Lab and their collaborators have released new wet-lab and computational protocols that will make long-read sequencing feasible for large genomics projects. These protocols, which they have already implemented in a National Institute of Health project for Alzheimer’s research, will allow researchers to characterize regions of the genome that were previously inaccessible with short-read technology. This could have major implications for future studies on human health, as a number of these unexplored regions can contain medically relevant variations.

In a paper published in Nature Methods today, the researchers have made their data, sequencing pipelines, and informatics pipelines freely available for others to use for the benefit of future large-scale genomics projects.

The importance of long reads

In projects that involve DNA and RNA sequencing, researchers have a choice between a number of methods for reading the genetic material that all have their advantages and disadvantages. These methods are categorized into “short read” and “long read” technologies.

Short reads sequence multiple small sections of DNA strands from the same sample, which then get pieced together using computational tools that identify where these small bits overlap in order to reconstruct a full sequence. This method is usually highly accurate, but has limitations. For example, short reads don’t work for regions of DNA that have a lot of repetition, and are not very good at identifying the large variations between sequences, known as structural variations, that are longer than the total length of the short reads.

Long read sequencing, like nanopore sequencing, is a newer innovation that sequences longer sections of DNA or RNA at once. This allows researchers to detect more variation and sequence sections of the genome with heavy repeats that are inaccessible with short reads.

Projects such as the Telomere-to-Telomere (T2T) Consortium’s completion of a human genome and the assembly of a Human Pangenome reference have showcased how effective long reads can be for assembling sections of the genome that had previously been inaccessible with short-read technology, and how they could help us learn more about genetic disease and human variation. This has created a strong desire among the scientific community to use long reads in more large-scale projects to study medically relevant portions of the genome.

However, there have been a number of barriers to doing so. For one, the current method for preparing DNA for long reads has lower yields, which means researchers have to set up multiple costly flow cells to get the same output. Additionally, long reads are slightly less accurate than short reads and need to be repeated for higher accuracy, although the technology is constantly increasing in accuracy. Projects such as T2T have overcome these problems by using multiple techniques to get full coverage, but this is laborious and expensive, so researchers have been looking for ways to make studies using just nanopore long-read sequencing feasible.

“It may sound simple, but creating scalable protocols to make them practical for large cohorts is a big deal,” said Benedict Paten, associate professor of biomolecular engineering and senior author on the paper. “Many groups are working on this, and I believe our paper is the first to establish a protocol that we have demonstrated is cost-efficient and practical enough to be used for large-scale genomic studies.”

Creating open-source resources

The new protocols and pipelines outlined in the Nature Methods paper make it possible to detect variations using only ONT reads at a cost similar to that of short read experiments. They can also accurately detect methylation, a chemical modification of DNA that can alter gene expression, which will also be important for medical studies.

The protocol has already been applied to cell lines and brain tissue samples in a pilot project for NIH Center for Alzheimer’s and Related Dementias (CARD) and has been found to be more effective than short read sequencing at identifying structural variants that could be important to understanding disease.

The authors hope that the new protocols will be quickly adopted by the larger genomics community to make new discoveries. To better facilitate their use, they have worked to make the new resources as open as possible. In line with the mission of their parent organizations — the UC Santa Cruz Genomics Institute and Baskin School of Engineering — to promote open science, the Computational Genomics Lab has made the informatics pipeline available as an easy-to-run open-source software package. The cell line data is also available through the Terra workspace on the AnVIL platform.

The UC Santa Cruz Genomics Institute is housed under the Baskin School of Engineering and is one of the premier public institutions for storing, cataloging, assembling, validating, and analyzing huge volumes of genomic data. Its mission is to use genomics to positively impact health and nature. It creates advanced technologies and open-source genomics platforms to unravel evolutionary patterns, molecular processes, and the underpinnings of disease. The Genomics Institute is dedicated to openly and responsibly sharing what it learns and creates in order to contribute to creating a healthier world.

[bamboo2] 13/9/2023 07:21

New Approach to ‘Liquid Biopsy’ Relies on Repetitive RNA in the Bloodstream
Posted on September 12th, 2023



It’s always best to diagnose cancer at an early stage when treatment is most likely to succeed. Unfortunately, far too many cancers are still detected only after cancer cells have escaped from a primary tumor and spread to distant parts of the body. This explains why there’s been so much effort in recent years to develop liquid biopsies, which are tests that can pick up on circulating cancer cells or molecular signs of cancer in blood or other bodily fluids and reliably trace them back to the organ in which a potentially life-threatening tumor is growing.

Earlier methods to develop liquid biopsies for detecting cancers often have relied on the presence of cancer-related proteins and/or DNA in the bloodstream. Now, an NIH-supported research team has encouraging evidence to suggest that this general approach to detecting cancers—including aggressive pancreatic cancers—may work even better by taking advantage of signals from a lesser-known form of genetic material called noncoding RNA.

The findings reported in Nature Biomedical Engineering suggest that the new liquid biopsy approach may aid in the diagnosis of many forms of cancer [1]. The studies show that the sensitivity of the tests varies—a highly sensitive test is one that rarely misses cases of disease. However, they already have evidence that millions of circulating RNA molecules may hold promise for detecting cancers of the liver, esophagus, colon, stomach, and lung.

How does it work? The human genome contains about 3 billion paired DNA letters. Most of those letters are transcribed, or copied, into single-stranded RNA molecules. While RNA is best known for encoding proteins that do the work of the cell, most RNA never gets translated into proteins at all. This noncoding RNA includes repetitive RNA that can be transcribed from millions of repeat elements—patterns of the same few DNA letters occurring multiple times in the genome.

Common approaches to studying RNA don’t analyze repetitive RNA, so its usefulness as a diagnostic tool has been unclear—until recently. Last year, the lab of Daniel Kim at the University of California, Santa Cruz reported [2] that a key genetic mutation that occurs early on in some cancers causes repetitive RNA molecules to be secreted in large quantities from cancer cells, even at the earliest stages of cancer. Non-cancerous cells, by comparison, release much less repetitive RNA.

The findings suggested that liquid biopsy tests that look for this repetitive, noncoding RNA might offer a powerful new way to detect cancers sooner, according to the authors. But first they needed a method capable of measuring it. Due to its oftentimes uncertain functions, the researchers have referred to repetitive, noncoding RNA as “dark matter.”

Using a liquid biopsy platform they developed called COMPLETE-seq, Kim’s team trained computers to detect cancers by looking for patterns in RNA data. The platform enables sequencing and analysis of all protein coding and noncoding RNAs—including any RNA from more than 5 million repeat elements—present in a blood sample. They found that their classifiers worked better when repetitive RNAs were included. The findings lend support to the idea that repetitive, noncoding RNA in the bloodstream is a rich source of information for detecting cancers, which has previously been overlooked.

In a study comparing blood samples from healthy people to those with pancreatic cancer, the COMPLETE-seq technology showed that nearly all people in the study with pancreatic cancer had more repetitive, noncoding RNA in their blood samples compared to healthy people, according to the researchers. They used the COMPLETE-seq test on blood samples from people with other types of cancer as well. For example, their test accurately detected 91% of colorectal cancer samples and 93% of lung cancer samples.

They now plan to look at many more cancer types with samples from additional patients representing a broad range of cancer stages. The goal is to develop a single RNA liquid biopsy test that could detect multiple forms of cancer with a high degree of accuracy and specificity. They note that such a test might also be used to guide treatment decisions and more readily detect a cancer’s recurrence. The hope is that one day a comprehensive liquid biopsy test including coding and noncoding RNA will catch many more cancers sooner, when treatment can be most successful.

[bamboo2] 13/9/2023 07:15

Oxford Nanopore Technologies plc

12 September 2023

Oxford Nanopore Technologies plc

Oxford Nanopore to present at the Morgan Stanley Healthcare Conference

12 September 2023

Oxford Nanopore Technologies plc (LSE: ONT) ("Oxford Nanopore"), the company delivering a new generation of nanopore-based molecular sensing technology, will participate in a fireside chat at the Morgan Stanley Annual Global Healthcare Conference today, Tuesday 12 September, at 4:55pm EDT/ 9:55pm BST.

A live webcast of the fireside chat will be accessible through Oxford Nanopore's Investor Relations website . The webcast will be archived and available for replay for at least 30 days after the event.

Available now...

[bamboo2] 08/9/2023 07:57

Hi Tom, I certainly get the gist of what you are saying, and it makes sense, but company structure is not an area of knowledge for me. Btw, still no reply on the anti-takeover shares question.

[p1nkfish] 07/9/2023 13:49

Makes sense to me and don't see a problem with the logic behind that.

[74tom] 07/9/2023 12:37

100% agree, however the current incumbents will push back against change because they'll be frightened of it making them redundant. Once they realise the benefits outweigh the threat will it become mainstream - I'd say it's inevitable in the next 5-10 years, but these things move in slow motion.

Ps. On the corporate front, I've been looking through the prospectus and spotted that ONT did a 1 for 1 bonus issue right before IPO;

"On 23 August 2021, the Company completed a bonus issue (one-for-one) and a subsequent share split (10-for-one) which resulted in share capital increasing from £35,000 to £71,000, with a corresponding decrease in accumulated income reserves. There was no cash or other financial impact."

Had they IPO'd at £4.25 with the previously issued share capital of 356m, plus 82m shares then the market cap at IPO would have been ~£1.8b, instead they had 712m shares so it was it was £3.6b... It meant that existing holders weren't diluted as much & were rewarded for their support, but it undoubtedly created a huge overhang.

Is it a coincidence that the share price has gravitated towards support at £2.10, at which point the market cap is equal to the pre bonus issue price?

Have I got this right? Not saying it isn't undervalued, but the continued weakness starts to make a bit more sense...

[bamboo2] 07/9/2023 12:09

We have to persuade many Pathology departments to look beyond their electron microscopes. The overhead heavy centralised approach to disease ID needs to start changing.

It's way too slow and in many cases, not fit for purpose.

ONT will diagnose in a few hours, while pathology take weeks.

For example,

Classification of Brain Tumors by Nanopore Sequencing of Cell-Free DNA from Cerebrospinal Fluid

25/8/2023

Abstract

Background: Molecular brain tumor diagnosis is usually dependent on tissue biopsies or resections. This can pose several risks associated with anesthesia or neurosurgery, especially for lesions in the brain stem or other difficult-to-reach anatomical sites. Apart from initial diagnosis, tumor progression, recurrence, or the acquisition of novel genetic alterations can only be proven by re-biopsies.

Methods: We employed Nanopore sequencing on cell-free DNA (cfDNA) from cerebrospinal fluid (CSF) and analyzed copy number variations (CNV) and global DNA methylation using a random forest classifier. We sequenced 129 samples with sufficient DNA. These samples came from 99 patients and encompassed 22 entities. Results were compared to clinical diagnosis and molecular analysis of tumor tissue, if available.

Results: 110/129 samples were technically successful, and 50 of these contained detectable circulating tumor DNA (ctDNA) by CNV or methylation profiling. ctDNA was detected in samples from patients with progressive disease but also from patients without known residual disease. CNV plots showed diagnostic and prognostic alterations, such as C19MC amplifications in embryonal tumors with multilayered rosettes or Chr.1q gains and Chr.6q losses in posterior fossa group A ependymoma, respectively. Most CNV profiles mirrored the profiles of the respective tumor tissue. DNA methylation allowed exact classification of the tumor in 22/110 cases and led to incorrect classification in 2/110 cases. Only 5/50 samples with detected ctDNA contained tumor cells detectable through microscopy.

Conclusions: Our results suggest that Nanopore sequencing data of cfDNA from CSF samples may be a promising approach for initial brain tumor diagnostics and an important tool for disease monitoring.

[bamboo2] 07/9/2023 07:29

Yesterday test on historical support at approx 208-210 passed ok.
Eod close above this level required to avoid setting a lower line.

50/100/200smas flat, bunched together above share price at approx 237-242
When they are bunched together support and resistance effect is reduced making it easier for share price to move across their zone. We have just seen this to the downside, but it works both ways. The stock is oversold.

Could see a bounce here?

[bamboo2] 06/9/2023 20:39

Just picking at a few things this evening.



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use link for whole article.

NEW YORK – Oxford Nanopore Technologies reported on Wednesday morning that its revenues for the first half of 2023 declined 30 percent year over year as COVID testing dried up. Revenues from life science research tools (LSRT) grew 22 percent, meanwhile, and 16 percent on a constant currency basis, in line with expectations announced in July.

For the six months ended June 30, the UK nanopore sequencing firm booked £86.0 million ($107.9 million) in revenues, all from LSRT, compared to £122.3 million in H1 2022, which included £70.6 million from LSRT and £51.8 million from a COVID testing contract with the UK's Department of Health and Social Care.

Of the company’s total revenues, £64.3 million, or about 75 percent, came from consumable sales, and £21.7 million came from sales of devices and services.

LSRT revenue growth was primarily driven by new customers, Oxford Nanopore said, and was partially offset by a £9.9 million decline in COVID sequencing and a £900,000 decrease in revenue from the Emirati Genome Program (EGP), the company’s largest customer.

Excluding revenues from COVID sequencing and the EGP, Oxford Nanopore’s so-called underlying LSRT revenues totaled £75.6 million, up 53 percent year over year, or 46 percent on a constant currency basis, from £49.4 million in H1 2022. Meanwhile, Oxford Nanopore’s revenue from EGP declined 15 percent to £4.9 million from £5.8 million in H1 2022.

At a regional level, LSRT revenues in the Americas were £32.8 million, representing 41 percent growth from £23.3 million in 2022, driven by demand for PromethIon devices and consumables in human disease research from the US and Canada, including projects looking at cancer and neurological diseases.

"We see the commercial opportunities in the North America region as one of the key drivers of future growth," Oxford Nanopore CFO Tim Cowper told investors in a conference call on Wednesday to discuss the company's financial results.

LSRT revenues in Europe, the Middle East, and Africa were £35.6 million, a 16 percent increase from £30.6 million in the prior-year period. Growth in this region was driven by PromethIon device and consumable sales in the UK and Germany for human genetics and cancer research.

LSRT revenues in Asia-Pacific were £17.6 million, up 6 percent year over year from £16.6 million, with business in the region "dominated by China," Oxford Nanopore said.

"We have seen a growth rate in China approaching 20 percent, but we remain pretty cautious about China in [that] the environment is undoubtedly a challenging one," Cowper said. "We are not placing too much reliance on that [Chinese] market."

"The last couple of years, everything has been shrouded by COVID sequencing, but as that [declines], we are clearly seeing growth in service providers and distributors in pushing towards diagnostics," CEO Gordon Sanghera commented on China. "At the same time, there is an economic slowdown and the macroeconomic, geopolitical considerations, so we are cautiously optimistic about China."

The firm's H1 R&D spending rose 69 percent to £48.2 million from £28.6 million in H1 of 2022, while SG&A spending grew 5 percent to £76.1 million from £72.3 million. Spending in both categories increased primarily a result of a workforce expansion, the company said.

For H1, the company reported an average headcount of 1,049full-time employees, compared to 866 in H1 2022. This included 445 staff members in R&D, a 24 percent increase from 358 in H1 2022; 455 in SG&A, a 27 percent risefrom 358 during the prior-year period; and 150 in production, the same number as last year.

In an email, an Oxford Nanopore spokesperson said the company carried out a "significant expansion" of its commercial team in the US and EMEA, which included sales, marketing, technical and customer service, and digital personnel.

During the call, Sanghera told investors that the company plans to establish customer excellence centers in Houston, Dubai, and Singapore. The company spokesperson said the creation of these centers is "in response to robust regional growth" and "an appetite by our users to explore the possibilities of nanopore sequencing in more depth."

Oxford Nanopore's H1 net loss swelled to £75.4 million, or £.08 per share, compared to a net loss of £25.9 million, or £.04 per share, in H1 2022.

The company ended the first half of the year with £334.8 million in cash and cash equivalents as well as £149.8 million in other liquid investments.

For full-year 2023, Oxford Nanopore now expects LSRT revenues to grow between 18 percent and 25 percent on a constant currency basis. Previously, the company had said it expected LSRT revenues to grow 16 percent to 30 percent.

The updated range includes an anticipated decrease of approximately £18.0 million from COVID sequencing, Cowper said, and the company now expects EGP revenue for 2023 to be lower than last year, when it was £13.2 million.

In Wednesday afternoon trading on the London Stock Exchange, Oxford Nanopore shares were down more than 5 percent to £218.9.