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Scientists have scooped £ 150m in biotechnology trading: Oxford Nanopore now joins London listing frenzy

Scientists have scooped £ 150m in biotechnology trading: Oxford Nanopore now joins London listing frenzy

A trio of British scientists is about to enter a huge payday after their biotechnology company announces plans for a blockbuster float.

Oxford Nanopore went public in London in late 2021 and will be one of the most anticipated stock market debuts in the last few years.

The company is valued by top investors at around £ 2.3bn, but analysts believe it could easily exceed £ 4bn.

Biotechnology Champion: Oxford Nanopore, which went public in London in late 2021, will be one of the most anticipated stock market debuts in the last few years.Analysts believe it could exceed £ 4 billion

This means that founders Gordon Sangela, Hagan Bailey (70), Spike Wilcock (44) and their families can make as much as £ 150m.

Their company specializes in DNA sequencing and has developed pocket-sized devices that could revolutionize health care.

The service was in strong demand during the pandemic as scientists compete to detect and track Covid-19 mutations.

The timing and location of floats has been the subject of speculation for many years. According to Sangela, Oxford Nanopore’s decision was to pursue an initial public offering (IPO) following the “extremely important year” when the coronavirus demonstrated the importance of life sciences.

He states: “We believe the IPO is the beginning of the next phase of our journey. Access to a deeper international capital pool supports our ambitious growth plans, manufacturing and commerce. Strengthen your ability to innovate and expand functionality.

Payday: Founder Gordon Sangela pockets £ 62m

Payday: Founder Gordon Sangela pockets £ 62m

During the Covid crisis, Oxford Nanopore technology has been used by scientists in 85 countries to identify one-fifth of the viral genome.

We believe that DNA and RNA tracking techniques can be used in many other areas, including rapid detection of other diseases, viral immunoassays, and tumor sequencing.

The IP Group, which owns a 15% stake, suggests that Oxford Nanopore has an overall business value of around £ 2.3 billion.

However, Berenberg analysts believe the company can “comfortably” get a £ 4 billion price tag.

This means that 60-year-old CEO Sanghera could see his 1.6% stake worth more than £ 62m.

Business development director Wilcox was able to make a fortune of £ 34m, and co-founder Biochemistry professor Hagan Bayley was able to make £ 32m.

Bailey’s ex-wife, Orit Braha, will also receive approximately £ 22m, according to filings with Companies House.

The trio launched Oxford Nanopore in 2005 as a spin-out of Oxford University. The technique is based on passing a DNA sample through a small hole called a nanopore and measuring how it reacts to an electric current.

Founder Hagan Bailey puts £ 32m in his pocket

Founder Spike Wilcock puts 34 meters in his pocket

Co-founder: Hagan Bayley (left) pockets £ 32m and Spike Willcocks (right) is set to plunge £ 34m

We provide rapid gene sequencing services to laboratories studying infectious diseases, cancer, crops, food and the environment.

This type of test portable device (minion) is the size of a smartphone, eliminating the need for heavy equipment. It has been used in the field to sequence strains of Ebola virus, Zika fever, and Covid-19.

Disgraceful fund manager Neil Woodford was one of Oxford Nanopore’s backers before he was expelled from the fund, but investors in his flagship fund missed listing profits later this year. I will.

Last year, the manager sold his 12% stake to US company Acacia for £ 20.8m. These stocks are currently believed to be worth at least £ 80m.

Investor eyes are profit

When Oxford Nanopore comes to mind, startup funders IP Group could make a net profit of £ 500m.

Investors who help commercialize ideas from college own a 15% stake, which means it’s worth about £ 340.3 million and Oxford Nanopore is worth about £ 2.3 billion. To do.

Analysts believe the price tag could rise to £ 4 billion. That means IP groups can be as high as £ 516m.

IP claims to own £ 1.2 billion worth of assets and helped establish more than 300 companies.

Previous successes including Ceres Power and Hinge Health.

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Scientists have scooped £ 150m in biotechnology trading: Oxford Nanopore now joins London listing frenzy

Source link Scientists have scooped £ 150m in biotechnology trading: Oxford Nanopore now joins London listing frenzy

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