Oxford Nanopore readies itself for float in London | Business

One of Britain’s most promising biotechnology companies is preparing to launch an initial public offering in the coming weeks.

Oxford Nanopore, a gene sequencing company, is working with banks on a float on the London Stock Exchange and is targeting a valuation above the £2.5 billion it was valued at during a fundraising in May.

The potential listing is a boost for the London market because biotech companies often look to the Nasdaq in New York to attract higher valuations.

Vaccitech, an Oxford University spin-out whose technology is behind the AstraZeneca Covid-19 vaccine, and Immunocore, an Oxford biotech company, opted for US floats this year.

Oxford Nanopore said in March that it was preparing for a float and expected to list in the