Funds raised will be used to develop the firm’s technology which maintains donor livers in a metabolically active state outside the body to make transplants easier.
OrganOx, a commercial-stage organ technology company spun out of the University of Oxford, has raised $142 million (£112.3 million) in equity financing to help grow the company’s platform technology in the large and high-growth organ technology global market.
The oversubscribed round was led by new investor California-based private equity firm HealthQuest Capital with support from existing OrganOx investors BGF and Lauxera Capital Partners, along with additional new investors Sofina, Soleus Capital, and Avidity Partners.
Existing OrganOx investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures also participated.
Approved in the US, Europe, Canada, and Australia, OrganOx’s main product is normothermic machine perfusion (NMP) platform technology. It keeps donor livers in a metabolically active state outside the body and provides transplant teams the opportunity for functional assessment of the organ before transplant.
“Organ disease and failure represent a large unmet need in healthcare, and we are excited to partner with HealthQuest Capital and the outstanding investor syndicate to work together to improve patient care and outcomes,” said executive chairman Oern Stuge.
The company is also investigating the use of its technology for kidney transplants which is expected to begin US clinical trials soon. In partnership with eGenesis, the company also expects to begin a first-in-human clinical study of the use of genetically engineered porcine livers to support patients with acute-on-chronic liver failure.
