Oxford Nanopore strikes collaboration and contract expansion with Plasmidsaurus

Oxford Nanopore said on Tuesday that it has struck a new strategic collaboration to advance plasmid sequencing beyond legacy methods, and an expanded multi-year, multi-million dollar global contract.

The FTSE 250-listed group stated the extension of the existing contract will see the collaboration continue to take a share of "a fast-growing" estimated $1.5bn market opportunity in synthetic biology as nanopore-based sequencing continues to displace traditional methods.

Oxford Nanopore said as strategic collaborators going forward, both it and Plasmidsaurus also intend to co-develop new technologies, reagents, and applications beyond plasmid sequencing.

Chief executive Gordon Sanghera said: "By collaborating with Plasmidsaurus, we are advancing the fields of synthetic biology and biotechnology through the unique capabilities of nanopore technology that are not possible with legacy methods. Our joint efforts will drive significant market growth and deliver best-in-class sequencing services to a global audience."

As of 0915 BST, Oxford Nanopore shares were down 1.83% at 118.20p.

Reporting by Iain Gilbert at Sharecast.com