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Oxford Nanopore Technologies made an announcement this week , 2017 The company's revenue tripled , This was mainly due to the increased sales of its nanopore sequencers and consumables. |
In a document provided to the House of Commons, which lists annual reports and financial statements of British companies, Oxford Nanopore said its revenue grew 204% in 2017, from 4.5 million pounds in 2016 to 13.8 million pounds ($18.4 million). |
Among the regions, revenue from the United States was approximately 4.5 million pounds, revenue from Europe excluding the UK was 4.1 million pounds, revenue from the UK was 1.3 million pounds, and revenue from other regions was 3.9 million pounds. |
The company said it has seen growth in both customer numbers and consumables usage over the past year. Customers are using nanosequencing technology for a variety of applications, including rapid pathogen analysis, drug resistance identification, brain tumor tissue analysis, soil analysis, plant sequencing, transcriptional analysis, and environmental research. |
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The company said the MinIon sequencer is being evaluated in a study of hospital-acquired pneumonia and is also being used to identify plant pathogens on farms in Tanzania, detect pathogens in food, and analyze wastewater. |
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Oxford Nanopore 2017 received more than 100 indivual GridIon Sequencer orders , GridIon It is the company's medium-sized platform , Can run up to five MinIon flow cell At last month's user conference , The company said , It is twenty four countries have more than 100 name GridIon client. |
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The company also expanded its production and distribution channels last year, grew its commercial team, and expanded into new sectors such as translational medicine and agriculture. The company said its commercial team now serves more than 70 countries. |
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The company's research and development spending fell from £38.1 million in 2016 to £35 million in 2017, while its administrative expenses increased from £23.6 million to £33 million over the same period. |
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The company's net loss narrowed to £56.6 million in 2017 from £59.3 million in 2016, thanks to growth in sales and profit margins, as well as higher research and development tax credits. |
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As of December 31, 2017, Oxford Nanopore had cash and cash equivalents of £57.8 million. |
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The company recently raised £100 million from investors in China, Singapore, Australia, and existing investors. The funds will support its commercial expansion, including the construction of a new 35,000 square foot production facility near Oxford, expected to open in early 2019; the expansion of its commercial team; and the development of new products. |
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In its report, the company listed five wholly owned subsidiaries: Oxford Nanotechnology, founded in Cambridge, Massachusetts, in 2011, provides R&D subcontracting and other services to companies in the United States; Metrichor, founded in the UK in 2013, provides analytical solutions for nanosensing devices; GenomeFoundry, founded in the UK in 2015; KK Oxford Nanotech, established in Tokyo, Japan in 2016, mainly provides services to Japanese companies; and Oxford Nanolabs in the United Kingdom, a defunct company. |
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Oxford Nanopore also stated , It covered the costs of the lawsuit between the University of California and Genia Technologies. |
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The Regents of the University of California filed a lawsuit in 2016 in the Northern District Court of California, alleging that Genia's Chief Technology Officer, Roger Chen, developed patented nanopore technology while an employee of the University of California and licensed it to Genia. Oxford Nanopore stated that the parties have agreed to a settlement and are currently preparing a final settlement agreement, which is subject to approval by the Regents of the University of California and Roger Chen. |
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Reprinted from Dingxiangtong |
