Oxford nanopore’s revenues triple in 2017

Oxford Nanopore Technologies reported this week that is revenues tripled in 2017, driven by an increase in customers for its nanopore sequencing tools and sales of consumables. In an annual report and financial statements filed with Companies House, a government agency that collects information about UK companies, Oxford Nanopore said that its revenues grew 204 percent in 2017 to £13.8 million ($18.4 million) from £4.5 million in 2016.

About £4.5 million of revenues came from the US, £4.1 million from Europe excluding the UK, £1.3 million from the UK, and £3.9 million from other countries.
The company said that the number of customers and their rate of consumables use grew during the year. Customers, the firm noted, have been using the nanopore sequencing technology for a variety of applications including rapid pathogen analysis, drug resistance characterization, brain tumor tissue analysis, soil analysis, plant sequencing, transcriptome analysis, and environmental studies.
In addition, the firm pointed out that the MinIon sequencer is being evaluated in a study of hospital-acquired pneumonia, has been used to identify plant pathogens on farms in Tanzania, to test food for pathogens by a multinational food company, and to analyze waste water.
Oxford Nanopore also said it received more than 100 orders in 2017 for the GridIon, its medium-size platform that can run up to five MinIon flow cells. At its user meeting last month, the firm said that it has more than 100 GridIon customers in 24 countries.
The company also expanded its production and its distribution channels last year, as well as its commercial team, which is covering new territories and specialties, such as translational science and agriculture. The commercial team currently serves more than 70 countries, the firm noted.

Source:https://www.genomeweb.com/