The asset management arm for the UK’s £30bn (€32.8bn) railways pension scheme has funded part of a project that will support the development of Oxford Nanopore Technologies.

The tech company has so far raised £84.4m in new capital to which RPMI Railpen has contributed with an undisclosed amount.

The funds will support Oxford Nanopore’s commercial and manufacturing operations as well as ongoing innovation in the field of nanopore technology, it said.

In a post-pandemic environment, several asset owners are pushed into thinking outside of the box when it comes to diversifying assets with a long-term vision.

Julia Diez, portfolio manager at RPMI Railpen, said: “As long-term investors we are looking forward to sharing its journey and to see it capitalising on many exciting opportunities ahead.”

The firm said its technology is increasingly being used in ‘applied markets’ to generate actionable insights such as in food safety or infectious disease, including COVID-19.

Oxford Nanopore has developed and commercialised a new generation of DNA/RNA sequencing technology that is used by researchers to explore human genetics, cancer, infectious pathogens, plant and animal genomics and environmental science.

Gordon Sanghera, CEO of Oxford Nanopore, said: “Our international investor base reflects the international ambitions of Oxford Nanopore, as our technology is now used to answer important biological questions in more than 100 countries.”

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