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Oxford Nanopore’s chief executive and co-founder, Gordon Sanghera, will step down by the end of 2026 after more than two decades leading the UK genetic sequencing tools company. Founded in 2005 as a spin-out from the University of Oxford, Nanopore pioneered handheld DNA sequencing technology and was hailed as a win for the London Stock Exchange when it chose to list there in 2021 instead of following the typical biotech route to Nasdaq. Sanghera said the company has “strong foundations” for future success, while the board has begun a formal search for a successor.
Despite its early promise, Oxford Nanopore has faced challenges in recent years. Its shares have fallen nearly 70% from their 2021 peak amid slowing demand for genetic sequencing devices, as funding pressures hit biotech firms and research institutions. In response, the company has sought to diversify its revenue streams, expanding into clinical practice and drug manufacturing. Nonetheless, shares have rebounded 75% in the past year, buoyed by major investments from figures such as Oracle billionaire Larry Ellison and Novo Holdings, which injected £50mn into the company last summer.
Sanghera has acknowledged that the company has been in a period of slow but steady transformation, likening the process to “turning a tanker.” Chair Duncan Tatton-Brown praised his leadership, crediting him with building a highly differentiated technology platform and fostering a culture of innovation and collaboration that helped the business grow faster than the wider market. The board is now looking for a leader who can execute on its growth strategy and create long-term value.
With Sanghera’s departure on the horizon, industry speculation has grown about potential acquisitions. Sanghera himself has admitted the company is “exposed” to takeover bids since his veto rights expired, and has indicated openness to a deal with the right buyer. Potential suitors named by bankers include US life sciences giants Thermo Fisher Scientific and Danaher, although both have declined to comment.
