Capital Markets Day - ONT expands into clinical
Oxford Nanopore Technologies plc
Capital Markets Day
19 October 2023
Oxford Nanopore Technologies plc (LSE: ONT) (the "Company" or "Oxford Nanopore"), the company behind a new generation of nanopore-based molecular sensing technology, will host a Capital Markets Day event this afternoon,19 October 2023.
Chief Executive Officer Dr Gordon Sanghera will be joined by a diverse range of senior leaders from across the Company to provide further detail on Oxford Nanopore's short-to-medium and medium-to-long term growth strategies and the pathway to adjusted EBITDA breakeven by the end of 2026.
Gordon Sanghera, Chief Executive Officer, commented:
"Since our IPO two years ago, we've delivered strong, above-market growth relative to our peers, and today we are excited to talk about our next phase and our long-term vision. Our blend of highly differentiated technology and unique commercial strategy has primed us to achieve our objectives in the Life Science Research Tools sector in the short-to-medium term. We are committed to ongoing delivery in this important sector.
Today also marks an important transition for Oxford Nanopore as we introduce our medium-to-long term strategy to meet unmet needs in the clinical and applied markets. We look forward to sharing our bold vision to serve healthcare and industrial markets of the future."
The presentations will outline:
· A sustainable high-growth financial strategy, balancing disciplined financial management alongside ambitious growth goals to reach adjusted EBITDA breakeven by the end of 2026.
· Driving growth in the near-to-medium term, with substantial opportunity in the Life Science Research Tools (LSRT) market. Combining product innovation with a differentiated commercial strategy.
· Clear steps forward into clinical and applied markets for the medium-to-long term with the right technology, regulatory and go-to-market strategies. Leadership will contextualise recent announcements that highlight its push into the clinical and applied markets (total addressable market of >$150bn) where nanopore sequencing can meet unmet needs:
o The Company will provide an update on products in Oxford Nanopore's portfolio to serve regulated markets.
§ Showcase its go-to-market strategy for these emerging target markets, in particular its partnership approach.
§ Review how its technology is placed to address unmet needs in clinical, diagnostic and applied markets.
o Today, Mayo Clinic and Oxford Nanopore unveiled a multi-year joint development collaboration to develop new clinical tests for diseases and improve patient care.
o The Company announced an investment from bioMérieux to strengthen the relationship between the two companies, further aligning with Oxford Nanopore's increasing focus on clinical markets through a separate partnership announced in April this year. This investment will support development for products in Oxford Nanopore's portfolio to serve IVD markets in conjunction with bioMérieux's commitment to advancing global public health.
· Product innovation pipeline, showcasing how highly differentiated nanopore sequencing technology will continue driving new standards and expectations in DNA/RNA sequencing by providing richer information, faster and more accessibly and affordably.
· An operational strategy to meet the demands of sustainable high growth. Focused on improving manufacturing operations and in-house processes to improve product quality and assurance and drive margin expansion. Additionally supported by a clear pathway to transform the global service function to deliver a world-class customer experience.
On 6 September 2023 the Company published its half-year results highlighting strong momentum to round out 2023. The Company reported that underlying Life Science Research Tools (LSRT) revenue was up 46% on a constant currency basis driven by high quality, recurring consumables revenue and new customer acquisition. LSRT gross margin was up 280 basis points driven by improvements to flow cell margins from optimised manufacturing techniques and efficiency.
Capital Markets Day details
The Capital Markets Day is for institutional investors and sell-side analysts. Presentations will start today at 13:00. Doors will open at noon for product demonstrations. Places are limited so if you would like to attend in-person please contact IR@nanoporetech.com.
There will also be a live webcast for attendees who wish to join the event virtually, available https://nanoporetech.com/about-us/investors/reports.
A copy of the presentation will be available on Oxford Nanopore's website after the event with the on-demand webcast available on Friday via the same link.
[ENDS]
For further information, please contact:
Oxford Nanopore Technologies plc
Investors: ir@nanoporetech.com
Media: media@nanoporetech.com
Teneo (communications adviser to the Company)
Tom Murray, Olivia Peters
+44 (0) 20 7353 4200
OxfordNanoporeTechnologies@teneo.com
About Oxford Nanopore Technologies plc:
Oxford Nanopore Technologies' goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere. The company has developed a new generation of nanopore-based sensing technology that is currently used for real-time, high-performance, accessible, and scalable analysis of DNA and RNA. The technology is used in more than 120 countries, to understand the biology of humans, plants, animals, bacteria, viruses and environments as well as to understand diseases such as cancer. Oxford Nanopore's technology also has the potential to provide broad, high impact, rapid insights in a number of areas including healthcare, food and agriculture.
For more information please visit: www.nanoporetech.com
Forward-looking statements
This announcement contains certain forward-looking statements. For example, statements regarding expected revenue growth and profit margins are forward-looking statements. Phrases such as "aim", "plan", "expect", "intend", "anticipate", "believe", "estimate", "target", and similar expressions of a future or forward-looking nature should also be considered forward-looking statements. Forward-looking statements address our expected future business and financial performance and financial condition, and by definition address matters that are, to different degrees, uncertain. Our results could be affected by macroeconomic conditions, the COVID-19 pandemic, delays in our receipt of components or our delivery of products to our customers, suspensions of large projects and/or acceleration of large products or accelerated adoption of pathogen surveillance. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements.
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