ABU DHABI, (Pakistan Point News - 13th Oct, 2020) International Holding Company, IHC, a publicly listed company on the ADX, has announced it invested ₤39 million in Oxford Nanopore Technologies as part of an ₤84.4 million equity raising exercise by the UK firm, which is a pioneered in DNA sequencing technology.
The funds will support the group’s commercial and manufacturing operations, including supporting Oxford Nanopore as it scales up its COVID-19 testing capability.
"IHC has a strong track record in the healthcare device sector in the middle East and we are pleased to be expanding our interests globally," said Syed Basar Shueb, CEO and Managing Director of IHC, which now owns a diverse portfolio of assets from real estate to financial services and manufacturing.
"Oxford Nanopore has developed distinctive and proven technology and has been highly effective in taking products from innovation to market within tight timeframes."
For his part, Dr. Gordon Sanghera, CEO of Oxford NanoporeDr Gordon Sanghera, CEO of Oxford Nanopore, said, "We are delighted to welcome IHC as an investor in Oxford Nanopore."
He added, "Our international shareholder base reflects the international ambitions of Oxford Nanopore, as our technology is now used to answer important biological questions in more than 100 countries."
