Oxford Nanopore's LamPORE test gains CE-IVD mark

RNS Number : 6442B

IP Group PLC

09 October 2020

 

FOR RELEASE ON

9 October 2020

THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.

Portfolio company Oxford Nanopore Technologies announces LamPORE test, for the detection of SARS-CoV-2, gains CE-IVD mark with initial roll out in Europe and the UAE

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, notes that its portfolio company Oxford Nanopore Technologies Ltd ("Oxford Nanopore" or "the Company") has announced that its LamPORE test is now CE marked for in vitro diagnostic use for the detection of the SARS-CoV-2 virus that causes COVID-19, using its GridION device.

Oxford Nanopore noted that the LamPORE test is now in the process of initial rollouts in the UK, Germany, Switzerland and the United Arab Emirates. The Company previously announced that it had partnered with the UK's Department of Health and Social Care with an initial order of 450,000 LamPORE SARS-CoV-2 tests and the potential to increase to millions of tests per month. Further regulatory approvals are being pursued in other countries, including Emergency Use Authorisation in the United States, and with its partner G42 in the United Arab Emirates.

Oxford Nanopore's LamPORE test has been found to show a sensitivity of 99.1% [96.9-99.9] and specificity of 99.6% [98.0-100] after scientists from the University of Oxford's Nuffield Department of Medicine, Public Health England Porton Down (PHE) and the University of Sheffield, Sheffield Teaching Hospitals NHS Foundation Trust published their evaluation. The results indicate that LamPORE has a similar performance to RT-PCR for the diagnosis of SARS-CoV-2 infection in symptomatic patients.

Alan Aubrey, Chief Executive of IP Group, said: "Oxford Nanopore has made exceptional technical progress this year while playing a critical role to help support the response to the pandemic. The team at Oxford Nanopore has done an incredible job of bringing this innovative testing platform to market in such a short space of time. Oxford Nanopore is a great example of the kind of world-changing innovation that IP Group backs and supports from the beginning and we are delighted to see the Company go from strength to strength."

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Notes for editors

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IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

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