Oxford Nanopore MinION programme oversubscribed

RNS Number : 4681Y

IP Group PLC

24 January 2014

 

FOR RELEASE ON

24 January 2014

IP Group - Portfolio company Oxford Nanopore's 'MinION' Access Programme is "heavily oversubscribed"

IP Group plc (LSE: IPO) ("IP Group"), the developer of intellectual property based businesses, is pleased to note that portfolio company Oxford Nanopore Technologies Limited ("Oxford Nanopore"), has announced that its 'MinION Access Programme' ("MAP") has been "heavily oversubscribed".

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

"The programme was heavily oversubscribed and Oxford Nanopore will now review these applications and subsequently issue invitations to a number of applicants to join the first wave of MAP," Oxford Nanopore said in a statement on its website.

The programme will be conducted in cycles with the first cycle taking place over a six week period comprising "a configuration phase (installation of hardware and software), burn-in phase (test experiments using control samples provided by Oxford Nanopore) and the user's own experiments."

More detail on the programme is available at https://www.nanoporetech.com//technology/the-minion-device-a-miniaturised-sensing-system/minion-access-programme.

IP Group has a 19.6% undiluted beneficial stake in Oxford Nanopore, valued at £104.3 million.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[phone] / [phone] [e-mail]
FTI Consulting (for IP Group)
Ben  Atwell, John Dineen	[phone]

Notes for editors

About IP Group

IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

The Company's portfolio comprises holdings in over 70 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials.

For more information, please visit our website at www.ipgroupplc.com.

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