San Diego Business Journal

Illumina's 13.5% Stake in Oxford Nanopore Technologies Is Sold

Monday, November 18, 2013

San Diego-based Illumina Inc.’s 13.5 percent stake in its rival Oxford Nanopore Technologies Ltd. has been sold to other investors.

Oxford, a British company that develops DNA sequencing equipment, said it coordinated a sale of Illumina’s share of stock to other investors for about 56.4 million pounds, or $90.7 million, it said in a statement.

The companies are competing in the race to lower the cost of sequencing the human genome, and their relationship has reportedly been contentious since Illumina’s initial 2009 investment of 11.9 million pounds into the British company.

Meghana Keshavan