Each week, Medical Device Network selects a deal that illustrates the themes driving change in our sector. It may not always be the largest deal in value, or the highest profile, but it will tell us where the leading investors are focusing their efforts, and why. This new, thematic deal coverage is driven by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
The deal
Organ transplantation company OrganOx has raised £25 million ($32 million) in a growth round led by Lauxera Capital Partners.
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Why it matters
OrganOx is the developer of a normothermic machine perfusion (NMP) device that preserves donor livers in a functioning state for up to 24 hours prior to transplant.
The system, named Metra, is fully automated and enables continuous monitoring and evaluation of the liver, so surgeons can assess whether to transplant a donor organ. The device is commercially available in Europe and the US.
With more than 2,500 OrganOx supported liver transplants successfully performed in Europe, the US and Australia, the rapid growth of Metra is being driven by its ability to preserve livers for longer periods than the current gold standard. The company’s latest investment will enable a commercial scale up. The technology is attracting significant interest as it allows transplants to be routinely scheduled during the working day, avoiding overnight surgery which in turn improves the working schedule of surgical teams.
The detail
OrganOx said the funds will be used to expand key areas of the business including expanding the company’s US customer team. In addition, the financing will be used for new infrastructure in the UK and the US to accelerate a complementary R&D pipeline.
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