Portfolio Update

RNS Number : 5029E

Woodford Patient Capital Trust PLC

18 October 2018

 

Woodford Patient Capital Trust plc

Portfolio update: Oxford Nanopore secures £50m investment from Amgen

18 October 2018

Oxford Nanopore Technologies, a privately-owned DNA sequencing company held in the portfolio of Woodford Patient Capital Trust (WPCT), has today announced an equity investment of £50 million from Amgen (NASDAQ: AMGN), a world leader in using strategic human genetics to deliver new medicines to patients. Amgen's subsidiary deCODE Genetics uses Oxford Nanopore's sequencing technologies to conduct genome research.

Oxford Nanopore, which is currently valued at £1.5 billion, noted in March that its order book has been tripling year on year. With a rapidly growing customer base, it is now expanding its commercial and manufacturing operations as well as continuing to invest in innovation.

The pocket-size MinION, introduced in 2014, has been successfully used in labs and in the field, in a variety of projects including: sequencing human and crop genomes, real-time tracking of pathogen outbreaks including Zika, Lassa and Ebola, to research cancer genetics, and to understand the complex biological composition of wastewater, seawater and ice. Its newly launched PromethION - a benchtop, on-demand, very high-throughput device - is designed for very large projects or large numbers of samples.

WPCT first invested in Oxford Nanopore in July 2015 and currently holds an undiluted stake of 4.9%, valued at £73.1 million. As at the end of August, the sequencing company represented an 8.09% position in the WPCT portfolio.

Amgen's investment will be effected through the purchase of £50 million of ordinary shares in Oxford Nanopore at the same price per share as the primary fundraising announced in March 2018 that saw new investment from GIC (Singapore), China Construction Bank International (CCBI, China) and Hostplus (Australia).

For further information please contact:

For Woodford
FourBroadgate

Roland Cross / Jonathan Atkins

020 3697 4200

[e-mail]

Notes to editors:

For further information go to: woodfordfunds.com

About Woodford Investment Management:

Woodford Investment Management Limited is an asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, the company has more than £11 billion assets under management and advice. Further information can be found at https://woodfordfunds.com

 

END

 

 

PFULVLFFVBFBFBL