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[bamboo2] 05/8/2024 07:34

5 August 2024

Oxford Nanopore Technologies plc

Oxford Nanopore to sequence 10,000 genomes for Singapore's National Precision Medicine (NPM) programme

Oxford Nanopore Technologies plc (LSE: ONT) ("Oxford Nanopore"), the Company delivering a new generation of nanopore-based molecular sensing technology, notes the announcement of a landmark project with Singapore's National Precision Medicine (NPM) programme, led by Precision Health Research, Singapore (PRECISE), to sequence 10,000 genomes representing Singapore's diverse population, including Malay, Indian and Chinese communities.

The project is aimed at developing a catalogue of structural variants that have demonstrated significance in helping clinician scientists and researchers in understanding human genetic diversity and diseases. The Oxford Nanopore platform was selected by the NPM programme through a competitive process because of its scalability and flexibility in sequencing both short and ultra-long DNA/RNA fragments, including detection of methylation, without the need for additional steps and at speeds faster than other platforms.

This initiative underscores Oxford Nanopore's commitment to advancing genetic research and healthcare outcomes on a global scale, particularly for ethnically diverse populations that are typically underrepresented in genomic databases.

The project started mid-2024 and is expected to run for c.12 months. There is no change to the Company's already stated 2024 and medium-term financial guidance.

Gordon Sanghera, CEO of Oxford Nanopore commented:

"We are excited to collaborate with Singapore's National Precision Medicine (NPM) programme to create one of the most extensive and inclusive reference genome datasets globally. This collaboration not only enhances our commitment to precision healthcare but also strategically positions Singapore as a pivotal hub for genomics in the Asia Pacific, fostering significant advancements in medical research and healthcare outcomes."

[steeplejack] 05/8/2024 07:34

I presume that Novo Holdings will take the opportunity to buy at below 120p.

[brucie5] 05/8/2024 06:40

Re today's RNS concerning Singapore: is this a policy to RNS every new collaboration without ref to actual /measurable financial impacts?

[p1nkfish] 05/8/2024 05:05

Having a few very unloved holdings when times are reasonably OK has an upside. If a market sell-off occurs there are very few left to sell. Life goes on.

[apple53] 04/8/2024 21:25

Well unfortunately I have had the opportunity to buy back what I had sold at 138.5.

Haven't really thought about next support. Is 120p too obvious? Need to check where I have sold previous tranches and whether I can justify buying more.

On other ideas, thanks for the suggestions so far. I will continue to own a lot of STB until the PE valuation at least reaches the heady level of 5ish. And lots of private equity investment trusts, even though discounts have shrunk a few percentage points. And MRNA. I would like to buy more SIHL which is running down (but spread too big) and HSBK (but ii have blocked trading for ages).

[bamboo2] 02/8/2024 20:57

This is the future of nanopore, in the clinic!

Asuragen Makes Strides Developing Nanopore Sequencing-Based Carrier Screening Assay
Aug 02, 2024 | Huanjia Zhang


[use link for full article]

NEW YORK – Molecular diagnostics company Asuragen is commercializing a targeted nanopore sequencing assay that promises to analyze multiple genes implicated in high-prevalence carrier screening conditions in a consolidated workflow.

The Austin, Texas-based firm, a brand of Bio-Techne, is slated to launch the test for research use only (RUO) this fiscal year but is staying mum on the exact timeline as well as on plans to further develop the assay into a clinical product.

"We decided to pursue consolidation of genes that are otherwise challenging or intractable by short-read sequencing, using the long-read sequencing platform from Oxford Nanopore," said Asuragen CSO Brian Haynes. "What is fantastic about nanopore sequencing and our approach is that it cannot only address the content that is really challenging by short reads, but it can do everything else that short-read sequencing is already doing."

Dubbed the AmplideX Nanopore Carrier Plus kit, the product, developed in partnership with Oxford Nanopore Technologies, contains all necessary reagents for analyzing 11 genes associated with nine common carrier screening conditions, Haynes said. The assay utilizes short- and long-range PCR to enrich for these target genes, which tend to be difficult to examine by short-read sequencing due to tandem repeats, copy number variations, and structural variations.

AmplideX Nanopore Carrier Plus is compatible with several sample types, including whole blood, cheek swabs, and saliva samples, according to Asuragen’s website. ​​After nucleic acid extraction, 40 ng to 100 ng of DNA is used for the PCR reactions.

Haynes said the company has distributed the 11 genes over four PCR mixes, giving users the flexibility to combine their desired gene targets in one experiment. The first PCR mix targets CFTR, a gene responsible for cystic fibrosis, as well as SMN1/2, which are linked to spinal muscular atrophy (SMA). The second mix aims for FMR1, mutations in which can lead to fragile X syndrome. The third mix looks at HBA1/HBA 2 as well as HBB, which are responsible for alpha thalassemia and sickle cell disease, respectively. The final PCR mix interrogates gene inversions in F8, which are associated with hemophilia A; GBA, which is linked to Gaucher disease; and CYP21A2/TNXB, which are implicated in 21-hydroxylase deficient congenital adrenal hyperplasia (CAH) and Ehlers-Danlos syndrome (EDS).

Each mix undergoes a two-stage PCR reaction, Haynes said, and the amplicons can subsequently be pooled for sequencing and analysis. The company also harmonized the PCR conditions for the first three mixes, enabling their reactions to be carried out in the same thermal cycler.

Haynes said the AmplideX Nanopore Carrier Plus assay is optimized for the Oxford Nanopore GridIon platform using R10.4.1 flow cells and chemistry. The workflow allows for flexible batching of 12 to 96 samples per flow cell. The estimated hands-on time for a 24-sample batch, for instance, is four hours, he noted.

In addition to the reagent kit, the company will also launch a companion analysis software for data analysis and reporting. Named the AmplideX Reporter, the software will take in nanopore sequencing data to help conduct automated summary QC and variant calls, Haynes said.

Currently, the sample-to-report turnaround time for the assay, if all 11 genes are analyzed, is about three days. Its list price is still being determined, he added.

To demonstrate the technology’s feasibility and utility for analyzing SMN1 and SMN2 variants, Asuragen has collaborated with researchers at Al Jalila Children’s Specialty Hospital in the United Arab Emirates.

In a preprint posted on MedRxiv earlier this year, researchers from Al Jalila Children’s and their collaborators described testing a prototype of Asuragen’s assay for SMN1 and SMN2 profiling on 750 samples, including presumed normal samples and patients with known SMN1 and SMN2 genotypes.

The study, which has not been peer-reviewed, concluded that the workflow could detect SNVs, indels, and CNVs with more than 98 percent accuracy across all samples. The authors also noted that the turnaround time for the assay is less than 48 hours for a 24-sample batch, using an Oxford Nanopore Mk1B flow cell connected to a computer with a recommended GPU.

"We really wanted to have a comprehensive assay that [for instance] can do copy number variants, any rearrangements, but at the same time being cost-effective," said Ahmad Abou Tayoun, director of the Genomics Center of Excellence at Al Jalila Children’s Hospital and the corresponding author of the study. Tayoun noted that for screening applications, throughput, accuracy, and cost are important attributes of a test.

Tayoun’s team estimated that the per-sample material costs for the SMN1/2 assay were less than $20, excluding the PCR enrichment costs, which were still not finalized. The calculation also did not include instrument costs, but Tayoun noted that one potential advantage of nanopore sequencing is the sequencer’s accessibility and lower upfront investment.

In addition to the study from Al Jalila Children’s Hospital, Haynes said Asuragen has also partnered with external collaborators from other institutions to further evaluate the company’s product in "many different geographies."

With its assay, Asuragen is eyeing an increasingly crowded carrier screening market, where many NGS-based assays have already been commercialized. Natera’s Horizon genetic carrier screening test, Myriad Genetics’ Foresight carrier screening test, and Quest Diagnostics’ QHerit expanded carrier screening test, for example, all tap sequencing to help screen for a slew of conditions including cystic fibrosis, spinal muscular atrophy, fragile X syndrome, and sickle cell anemia.

Haynes said one reason the company bets on nanopore sequencing is the technology’s flexibility and accessibility. Moreover, he pointed out that it can sequence molecules of all sizes and enable comprehensive analysis of the target genes.

With the Nanopore Carrier Plus kit still undergoing commercialization, it remains to be seen how the product will perform in the real world and how it will stack up against competing offers.

Haynes also declined to comment on if or when Asuragen plans to validate the AmplideX Nanopore Carrier Plus assay for clinical use. "We are definitely looking at a regulatory strategy across our entire [product] portfolio," he said.

[brucie5] 02/8/2024 13:01

p1nkfish1 Aug '24 - 16:26 - 1534 of 1535
0 1 0
Daren't share mine that haven't already started to move, risky, but 2 have 3-5x written all over them.
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No probs- my invitation was partly tongue-in-cheek. Like several investors here, I suspect, I run my own stable of ideas, which includes ONT, and I switch in and out of some, while others I simply keep.

I think with the chart now re-emerging into the light of day - to mix metaphors- and the sizeable competing (or should that be 'complementary' interest from Novo, this share is now one I'd want to hold at least for the medium term until we see it return to the £200s, where BioMer took its interest.

"Foundational stand alone" is not a descriptor I'm familiar but I'm obviously happier if it can grow to multiples rather then being taken out early. The analogy with CWR is strong in this respect also, with large complementary interests already being staked out between Weichei and Bosch, with large additional partnerships among corporates/OEMs, while forecast B/E in 2/3 years time.

[p1nkfish] 01/8/2024 15:31

"Foundational stand alone" is where I see Ox Nano. In time becoming more of an acquirer than an acquired.

TBD.

[p1nkfish] 01/8/2024 15:26

Daren't share mine that haven't already started to move, risky, but 2 have 3-5x written all over them. Hated but management doing all the right things to turn the ship. Always takes patience to see results from those types, sentiment is currently awful.

ONT, good to see them spreading support. I dont think they will be bought out, too many with a vested interest in seeing them develop into a foundational stand alone.

[steeplejack] 01/8/2024 14:53

In my experience,'best ideas' are invariably shared once the race is almost run!Molten Ventures (GROW) is worth a look.Finds itself in a not dissimilar situation to ONT and CWR.

[brucie5] 01/8/2024 13:25

This has all the chart indications of a fast bowl reversal back to £2. I bought in two tranches back in the year when it first fell below £1, then sold, for it to fall below again. At that time I decided to hang back; hindsight is a wonderful thing!

Also analogous on the 5 year is CWR, purely from a chart pov; but the news there has also been good and we still await the unveiling of their latest partner from the FE, which could add some new momentum.

The markets are undoubtedly bullish right now; so I expect some degree of rotation from value (by which I imply dividend and a low PE) towards momentum.

If any of you geniuses care to share your best ideas going forward into this market, I'd love to hear them. TiA.
;)

[seball] 01/8/2024 11:13

“Oxford Nanopore has made impressive ongoing progress to advance its technology platform and gain commercial traction,” said Daniel Mahony at Novo Growth Investments.

“This investment underscores our belief in Oxford Nanopore’s platform and its expanding opportunity in biopharmaceuticals, where rapid sequencing, richer data and a streamlined platform can support discovery and delivery of new drug therapies.

“We are confident in Oxford Nanopore’s long-term value proposition after extensive due diligence within the biopharma community and analysis of their robust and extensive IP portfolio.”

Strong BUY

[apple53] 01/8/2024 10:18

Thanks Bamboo. They will be borderline 5% I guess.
It might get reported anyway due to the strategic nature.

[p1nkfish] 01/8/2024 10:13

Yes bb2, everyone should be treated the same and if not then even tighter for foreign.

[steeplejack] 01/8/2024 09:42

Positive news other than the placing price is a gift.Looking at the inverse,Novo and Merieux's interest could make it more complicated for another interested party to acquire ONT but bids in the pharma sector are ordinarily agreed.This is a choppy ride but looking for two quid here in due course.

[bamboo2] 01/8/2024 09:32

Re Novo size of stake. Foreign entities only have to notify when they go above 5%, then it's in 1% increments up or down. UK notification limit is 3%. I'm not sure the system is policed in any way!

I don't know why the UK and International notification limits are different. Personally I think everyone should be treated the same, and anything above or below 1% would be useful to know.

[apple53] 01/8/2024 09:27

Brucie there was another trade at an identical price (138.56) shortly after. Total value of both £32k.
If so then I've come off better, so far, but I very much hope you are in the black by market close, and confident you will be by October.

Next buying opportunity might be the day Novo reports they have their full stake (will they tell anyone?).

[stamford hill] 01/8/2024 09:24

Thanks Apple. Yes I've been buying this week. Picked up a few more this morning on the gap fill. Wish all my trades would work out like this. If only....

[apple53] 01/8/2024 09:22

Steeplejack I also think that the 120p was too cheap for a strategic placing, and given the massive demand there should have been wiggle room (Dutch auction?) to share more with long-suffering shareholders, including Biomerieux.
Very recent history makes 120p look OK-ish but any other historic price reference makes it look almost desperate. Novo's pockets are presumably deep (not sure how much of NVO it has cashed in) and management time is more valuable than an extra couple of million. But yes they hold most of the cards in any negotiation.

Having said all that it is hard not to see it as immensely positive. Next resistance c. 160p? Buy below 130p?

[brucie5] 01/8/2024 09:10

I think you must have sold them to me then.
;)

[apple53] 01/8/2024 09:08

Thanks for all the info everyone.
First I really hope Stamford managed to pick some up, even with the pullback of the last few days, though I imagine your original idea had been closer to 110.
Bamboo interesting that it appeared to fill the gap you mentioned on the day, but still decided to come back and do it again! As you say I saw it generally as testing old resistance now being support.
I sold maybe 10% of my position above 130p but bought back average 122p (barely worth it given stamp and spread).

Cautionary tale: I hadn't had chance to analyse the news, but received an ii sms price alert and jumped on the app to sell a chunk. ii showed me a 144p indicative price which sounded pretty good so I clicked. 5 mins later it showed as executed but at 138.5. A REMINDER TO USE LIMITS AT VOLATILE TIMES. In the past they have told me that the delay in the 'executed' word appearing is not a delay in the execution, but in the report. However, time stamp on the app was 0808 (when trades were 144-145) while execution was 0810:44 by which time other trades were 140. So that was quite a delay and doesn't feel like 'best execution'. I hope this is a helpful story - the difference vs the indication was 2 weeks of summer childcare.

[steeplejack] 01/8/2024 08:52

I suppose having Novo Holdings as a shareholder is an accolade of sorts.Arguably,it enables Novo to negotiate a very competitive price when taking a stake.The reality is that Novo will be a great deal more knowledge when it comes to evaluating the worth of Oxford Nanopore than a pharmaceutical analyst covering a clutch of drug companies.Not a criticism,just a simple observation.

[brucie5] 01/8/2024 08:43

seball1 Aug '24 - 08:43 - 1517 of 1519
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Yes, and to think it went down as far as 90p in June. The stars seem to be aligning now, though you could argue that the chart is still not yet wholly unambiguous. Nut I think Novo's interest puts paid to many lingering doubts about the value attributed by likely buyers.

[steeplejack] 01/8/2024 08:07

I'm surprised that ONT was prepared to issue stock to Novo Holdings at 120p.Its not usual to pay a healthy premium to the market price when buying such a substantial stake in a company.Further intended market purchases should support the price.Not for the first time,industry protagonists are making strategic stakes in biopharmas in a disinterested,stale UK stockmarket. "Novo Holdings currently intends, subject, inter alia, to availability and price, to add over time to their initial primary investment through further market purchases up to the amount scaled back.Novo Holdings has made this investment after evaluating the long-term growth opportunities for Oxford Nanopore, in particular those within the Biopharma industry, and after a thorough review of Oxford Nanopore's broad patent portfolio."

[bamboo2] 01/8/2024 08:06

seball the LAT shares expire 5 October 2024

GS has been quoted as saying there is no plan to extend their duration.