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IP Group plc - Portfolio Company Oxford Nanopore Technologies to Open Registration for Its "MinION" Access Program



10/23/2013 10:51:35 AM

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October 23, 2013 -- IP Group plc (LSE: IPO) (“IP Group” or “the Group”), the developer of intellectual property based businesses, is pleased to note that portfolio company Oxford Nanopore Technologies Limited ("Oxford Nanopore" or “the Company”), has today announced that it is opening registration for its ‘MinION Access Programme’ (“MAP”) in late November.

Oxford Nanopore, a spin-out company from the University of Oxford that specialises in nanopore-based electronic molecular analysis systems, describes the programme as a “substantial but initially controlled programme designed to give life science researchers access to nanopore sequencing technology at no risk and minimal cost.”

The Company comments that a substantial number of selected participants will receive a MinION Access Programme package which will include at least one complete MinION system (device, flowcells and software tools). MAP participants will be asked to pay a refundable $1,000 deposit on the MinION USB device plus shipping and Oxford Nanopore will provide a regular baseline supply of flowcells sufficient to allow frequent usage of the system. MAP participants will ONLY pay shipping costs on these flowcells. Any additional flowcells required at the participants’ discretion may be available for purchase at a MAP-only price of $999 each plus shipping and taxes. Oxford Nanopore will provide Sequencing Preparation Kits. MAP participants may choose to develop their own sample preparation and analysis methods; however, at this stage on an unsupported basis.

Oxford Nanopore, which is currently exhibiting at the American Society of Human Genetics (“ASHG”) conference in Boston, USA, provides further details of the MAP programme on its website at www.nanoporetech.com. (To be kept informed of the opening of the registration programme, visit the contact page and select the box marked 'Keep me informed on the MinION Access Programme'.)

In a statement on its website, Oxford Nanopore comments: “MAP participants will be at the forefront of applying a completely novel, long-read, real-time sequencing system to existing and new application areas. MAP participants will gain hands-on understanding of the MinION technology, its capabilities and features. They will also play an active role in assessing and developing the system over time. Oxford Nanopore believes that any life science researcher can and should be able to exploit MinION in their own work. Accordingly, Oxford Nanopore is accepting applications for MAP participation from all.”

While Oxford Nanopore is not providing any further guidance at this time, interested parties are advised to follow community reaction during the course of the ASHG conference on social media channels.

Earlier this month, Oxford Nanopore announced it had raised £40 million in new funding via a private placement of ordinary shares, bringing the total funds raised by Oxford Nanopore since its foundation to £145 million. IP Group has a 19.6% undiluted beneficial stake in Oxford Nanopore, valued at £104.3 million.

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