Oxford’s OrganOx completes $142m equity financing round
Oxford-based medtech OrganOx has completed a $142 million primary and secondary equity financing round, opening up new global growth opportunities for its metra platform.
Approved in the US, Europe, Canada and Australia, OrganOx metra is a normothermic machine perfusion (NMP) platform technology that’s been used in more than 5,000 liver transplants to date.
It keeps donor livers in a metabolically active state outside the body, giving medical teams the opportunity for functional assessment of the organ prior to transplant – ultimately making a greater number of organs available.
This latest oversubscribed round was led by new investor HealthQuest Capital, with support from existing OrganOx investors BGF and Lauxera Capital Partners – plus new investors Sofina, Soleus Capital and Avidity Partners.
Existing investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund and Longwall Ventures.
Oern R. Stuge, executive chair at OrganOx, said: “Organ disease and failure represent a large unmet need in healthcare.
“We’re excited to partner with HealthQuest Capital and the outstanding investor syndicate, to work together to improve patient care and outcomes.”
Steve Deitsch, chief financial officer at OrganOx, added: “OrganOx’s financial profile is unparalleled.
“Partnering with leading investors in this transaction – new and existing – further strengthens us to support the success of our current customers, expand our customer base and enter new markets.”
OrganOx also has an investigational metra technology for kidney transplants, which is expected to soon begin US clinical trials.
And it’s partnered with eGenesis with the aim to begin a first-in-human clinical study regarding the use of its metra technology with eGenesis’s genetically engineered porcine livers to support patients with acute-on-chronic liver failure.
Garheng Kong, founder of HealthQuest Capital, said:“We’re thrilled to back OrganOx as they advance a technology platform that successfully addresses the quadruple aim of healthcare, benefitting patients, healthcare providers and global societal health in a manner that’s cost-neutral to the standard of care.”
Tim Rea, co-head of early stage at BGF, added: “BGF is proud of our investment in OrganOx and its tremendous performance since our first investment in 2019.
“We’re pleased to invest in the company again together with the impressive group of assembled investors.”
Piper Sandler acted as exclusive financial adviser and Latham & Watkins as legal counsel to OrganOx in the transaction.
