Oxford Nanopore Receives £70M Strategic Investment from bioMérieux; Signs New Research Collaboration with Mayo Clinic
Oxford Nanopore Technologies has secured a strategic investment of £70 million from bioMérieux SA, a leader in the field of in vitro diagnostics (IVD). Additionally, bioMérieux has the option to make further market purchases of up to 3.5% of Oxford Nanopore’s shares.
This significant investment strengthens the partnership between the two companies and aligns with Oxford Nanopore’s growing focus on clinical markets. The collaboration aims to support the development of products within Oxford Nanopore’s portfolio to serve the IVD markets.
The partnership between Oxford Nanopore and bioMérieux seeks to harness Oxford Nanopore’s nanopore-based IVD sequencing technology and combine it with bioMérieux’s IVD expertise in research and development, regulatory matters, medical expertise, and market access. To facilitate this, the two firms will establish an IVD Advisory Board dedicated to advancing nanopore technology for routine clinical use.
Nanopore-based sequencing represents a cutting-edge technology that allows the analysis of long DNA or RNA fragments. It operates by monitoring electrical current changes as nucleic acids pass through a protein nanopore, with the resulting signal decoded to provide the specific DNA or RNA sequence. The real-time, scalable nature of this technology, combined with its advancements in single-nucleotide sequencing accuracy, make it useful for the rapid and cost-effective characterization of pathogens in clinical samples. Together, Oxford Nanopore and bioMérieux aim to address a substantial unmet need in the clinical and diagnostic markets. This collaboration targets situations where nanopore sequencing is uniquely positioned to deliver significant benefits in cases where information-rich, rapid, accessible, and cost-effective sequencing is crucial.
Pierre Boulud, CEO of bioMérieux, emphasized the potential of the collaboration, saying, “We consider that the new generation of sequencing technology developed by Oxford Nanopore holds promise to answer future diagnostic needs and will further improve patient care, particularly against the ever-growing infectious diseases threat.”
The company also announced a multi-year joint development collaboration between Mayo Clinic and Oxford Nanopore encompasses a diverse range of applications, spanning from translational research in human genetics to the detection of genetic predisposition to cancer.
Gordon Sanghera, CEO of Oxford Nanopore Technologies, expressed his pride in working with Mayo Clinic, stating, “We are proud to work with Mayo Clinic to support the development of new tests that will assist clinical decision-making and improve patient lives. This collaboration shows that Oxford Nanopore’s technology is ready to support development and validation of assays for clinical care, and it underscores our maturity and long-term vision to transform this space. We have long held the ambition to become a utility player in world-renowned, global clinical centers of excellence, and this is our first step toward achieving that vision.”
Oxford Nanopore also announced a goal to achieve adjusted EBITDA breakeven by the end of 2026 ahead of its capital markets day.