M&G has invested £35m ($48.6m) in Oxford Nanopore Technologies, which raised a total of £195m in a round of funding.
The company was founded in 2005 as a spin-out from the University of Oxford. It researches biomedical science, particularly investigating pathogens in microbiology and public health.
The investment was made by the Catalyst team, which looks to identify and invest in privately-owned innovative enterprises working to create a sustainable world. The mandate was awarded in February by the £143bn Prudential With-Profits Fund.