Sales are expected to have almost hit £200 million at Oxford Nanopore Technologies plc in 2022.
The molecular sensing technology company, seventh on our sister publication BusinessCloud’s MedTech 50 ranking, reported total revenue of £133.7 million in 2021.
It said the 2022 figure of £199m includes non-recurring revenue of £51.8m following the conclusion of the group’s COVID-19 testing contract with the Department of Health and Social Care.
Oxford Nanopore, which launched a £3.4 billion IPO in London in September 2021, said its Life Science Research Tools arm expects to report revenue for the year of approximately £147m compared to £127m in the prior 12 months.
“Oxford Nanopore continues to demonstrate strength and resilience with strong core revenues driven by growth across all customer groups in 2022,” said CEO Gordon Sanghera.
“This reflects an increase in global demand for our DNA/RNA sequencing technology across many areas of scientific research.
“Our latest technology improvements have propelled this growth, enabling our customers to generate highly accurate, high-yield, information-rich data, in real time and from any length fragments of DNA/RNA, from short to ultra-long.
“The 2022 launch of the high-yield, highly accessible palm-sized PromethION 2 (P2) Solo device was well received and is further expanding our growing PromethION2 user base. This launch coupled with our Q20+ chemistry continues to establish Nanopore as a highly accessible, accurate, information rich platform at any scale.
“With a single high-performance technology for all users’ sequencing needs, we enter 2023 with good momentum as we continue to invest in our operational expansion alongside our innovation.”