Oxford NanoLabs Ltd secures £10m investment 28 Mar 2008
Note: Oxford NanoLabs changed its name to Oxford Nanopore Technologies in May 2008.
28 March 2008, Oxford, UK. Oxford NanoLabs Ltd announces that it has
secured £10m ($20.1m) in new investment from institutional and private
investors. The Company is developing nanopore technology for use in DNA
sequencing. Nanopore technology has the potential to offer significant
advantages in cost and speed over existing technologies, meeting an
expanding need for DNA analysis.
Dr Gordon Sanghera, CEO said: "Oxford NanoLabs has made strong progress
in the past year towards our goal of developing a nanopore-based DNA
sequencing system. This investment will enable the acceleration of our
research and development programme. We are proud to have the support of
excellent investors, who share our vision of nanopores as a disruptive
technology that would enable a new era of genomics."
In contrast to current technologies, nanopore-based DNA analysis has
the potential to measure single molecules without the need for chemical
labels, therefore avoiding the use of expensive reagents and
time-consuming amplification steps. Direct electrical measurement of
the DNA sequence allows simpler instrumentation and data processing.
These advantages mean that nanopore technology is positioned to deliver
a step-change in cost and power of DNA analysis tools.
28 March 2008
