27 November 2024

Oxford Nanopore Technologies plc

Oxford Nanopore and UK Biobank to create world's largest epigenetic dataset targeting the causes of cancer, dementia, complex disease

-     The project will utilise Oxford Nanopore's technology to map the epigenome using 50,000 UK Biobank participant samples, to unlock crucial insights into disease mechanisms

-     The initiative builds upon a new strategic partnership between UK Biobank, Genomics England and NHS England to drive biomedical research forward and improve patient outcomes in the UK and beyond

Oxford Nanopore Technologies plc (LSE: ONT) ("Oxford Nanopore" or "the Group"), the company delivering a new generation of nanopore-based molecular sensing technology, today announces a new collaboration with UK Biobank to create the world's first comprehensive, large-scale epigenetic dataset.

Oxford Nanopore technology will be utilised to analyse the epigenome using 50,000 participant samples to unlock crucial insights into disease mechanisms. This research project is expected to run for up to 24 months, deploying 15-30x coverage of epigenetic sequencing to characterise potential causes of diseases including cancer, neurological diseases and other common complex diseases.

Epigenetics is the study of how external factors and lifestyle choices can modify an individual's DNA. Epigenetic changes play a critical role in how genes are expressed and influence risk in diseases such as cancer and neurodegeneration. Oxford Nanopore's technology provides a comprehensive view of up to 98% of the epigenetic methylation markers, enabling richer insights than traditional sequencing technologies, without the need for additional complex chemical processes, such as bilsufite conversion.

This epigenetics programme follows the previously announced strategic partnership with the UK Government, including the creation of the first real-time, pathogen-agnostic biosurveillance system across as many as 30 hospitals in NHS England-creating an early warning framework to detect and respond to emerging pandemics and biological threats.

These partnerships will not result in a change to the Group's already stated 2024 and medium-term financial guidance, with the incremental revenues supporting the Group's previously stated revenue target of more than 30% constant currency growth on a compound annual growth rate between FY24 and FY27. 

Gordon Sanghera, Chief Executive Officer of Oxford Nanopore, commented:

"This project represents a significant leap forward in epigenetics research, an increasingly important area of study related to causes of disease, disease progression and response to treatment. Working with UK Biobank to create the world's largest epigenetic dataset aligns with our commitment to drive discovery in healthcare and genomics. By capturing comprehensive methylation data, we aim to open new doors for understanding disease, especially cancer and dementia, and ultimately enable more personalised, effective treatments for patients."

-ENDS-

For further information, please contact:

Oxford Nanopore Technologies plc

Investors:         ir@nanoporetech.com

Media:              media@nanoporetech.com

Teneo (communications adviser to the Company)

Tom Murray, Olivia Peters

+44 (0) 20 7353 4200

OxfordNanoporeTechnologies@teneo.com  

About Oxford Nanopore Technologies plc:

Oxford Nanopore Technologies' goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere. The Group has developed a new generation of nanopore-based sensing technology that is currently used for real-time, high-performance, accessible, and scalable analysis of DNA and RNA. The technology is used in more than 125 countries, to understand the biology of humans, plants, animals, bacteria, viruses and environments as well as to understand diseases such as cancer.  Oxford Nanopore's technology also has the potential to provide broad, high impact, rapid insights in a number of areas including healthcare, food and agriculture.

For more information please visit: www.nanoporetech.com

Forward-looking statements

This announcement contains certain forward-looking statements. For example, statements regarding expected revenue growth and profit margins are forward-looking statements. Phrases such as "aim", "plan", "expect", "intend", "anticipate", "believe", "estimate", "target", and similar expressions of a future or forward-looking nature should also be considered forward-looking statements. Forward-looking statements address our expected future business and financial performance and financial condition, and by definition address matters that are, to different degrees, uncertain. Our results could be affected by macroeconomic conditions, delays or challenges in manufacturing or delivering of products to our customers, suspensions of large projects and/or acceleration of large products or accelerated adoption of pathogen surveillance or applied uses of our products. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements.