Oxford-based medtech startup OrganOx revealed that it has successfully raised £25M (around €22.30M) in a growth round of funding. The funding was led by Lauxera Capital Partners, with participation from existing investors.
The UK-based company aims to maximize the impact of donated organs through its revolutionary technology called metra. This advanced normothermic machine perfusion (NMP) technology is designed for liver transplantation and offers a fully automated solution.
According to Oern Stuge, MD, MBA, Executive Chairman of OrganOx, the investment from Lauxera marks an important milestone in the company’s journey towards diversifying its capital structure and preparing for a potential future IPO.
As a response to the strong interest and adoption of OrganOx technology, the company plans to expand its customer-facing team in the United States. This growth aims to meet the increasing demand for OrganOx technology and serve a larger customer base.
To support and accelerate research and development activities, new infrastructure will be established in both the UK and the US in the coming months. This investment will enable OrganOx to address underserved markets related to liver transplantation.
Craig Marshall, CEO of OrganOx, expresses excitement about the involvement of Lauxera Capital Partners, emphasizing the invaluable expertise they bring to the table. Marshall highlights the importance of executing the company’s commercial strategy across Europe, North America, and Australia.
With a commitment to using NMP technology, OrganOx strives to make organs more accessible to patients in need worldwide.
Established in 2008, OrganOx has positioned itself as a trailblazer in normothermic machine perfusion, dedicated to saving lives by ensuring the significance of every organ donation.
Using OrganOx’s patented NMP technology, the metra device maintains the functional state of donor livers for up to 24 hours prior to transplantation. This automated NMP device enables continuous monitoring and evaluation of the liver, enabling surgeons to make informed decisions regarding the suitability of donor organs. It has also facilitated the testing and transplantation of previously rejected organs.
The rapid adoption of metra can be attributed to its ability to preserve livers for extended periods, surpassing the current gold standard. Additionally, metra allows for transplant procedures to be scheduled during regular business hours, eliminating the need for nighttime surgeries and enhancing the surgical team’s ability to maintain a regular schedule.
According to OrganOx, more than 2,500 successful liver transplants supported by metra have been conducted in Europe, the US, and Australia. The metra technology has obtained a CE Mark and FDA approval in Europe and the United States, respectively. Moreover, OrganOx’s kidney perfusion device is currently undergoing human clinical trials.
About Lauxera Capital Partners
Established in 2020, Lauxera Capital Partners is a privately held asset management firm operating out of Paris, France, and San Francisco, California. With a specific focus on healthcare, the firm serves as an investor dedicated to supporting the growth and expansion of healthtech companies across Europe.
Lauxera’s inaugural fund, Lauxera Growth I, was designed for professional investors and earned the prestigious “Tibi” label from the French government. This recognition is part of the institutional investors’ charter for financing technology businesses.
The primary objective of Lauxera is to facilitate the international commercialization of promising healthtech innovations emerging from Europe. By providing strategic support and investment, Lauxera aims to propel the growth and success of these innovative companies on a global scale.