OXFORD, United Kingdom, July 17, 2023 (GLOBE NEWSWIRE) -- OrganOx Ltd ("OrganOx" or the "Company"), a world-leading medical technology company committed to making every donated organ count with metra®, a fully automated normothermic machine perfusion (NMP) device for liver transplantation, today announces that it has raised £25 million in a growth round led by Lauxera Capital Partners ("Lauxera") with support from existing investors.
The proceeds from the fundraise will enable OrganOx to significantly expand its commercial footprint across strategically key areas of the business. This includes expanding the customer-facing team in the United States due to high interest and adoption of the OrganOx technology. In addition, investment will be made in new infrastructure in both the UK and the US over the coming months to facilitate and accelerate programmes within the R&D pipeline, some of which will address large and underserved markets adjacent to liver transplantation.
With more than 2,500 OrganOx supported liver transplants successfully performed in Europe, the US and Australia, the rapid growth in the use of metra has been driven by the ability to preserve livers for longer periods than the current gold standard, enabling surgeons to assess liver function prior to transplantation. The metra technology also enables transplants to be routinely scheduled during the working day, avoiding overnight surgery which in turn improves the working schedule for the surgical team.
Sam Levy, MD, Lauxera Capital Partners, added: "Lauxera is proud and honoured to back the OrganOx team and its global commercial scale-up. This is the ninth investment made by Lauxera Growth I, a growth buy-out fund dedicated to investing in commercial-stage European and North American HealthTech businesses."
Craig Marshall, Chief Executive Officer, OrganOx said: "We are thrilled to have Lauxera Capital Partners at the table. Their collective experiences will be invaluable to OrganOx as we execute our commercial strategy in Europe, North America and Australia. OrganOx is committed to using our NMP technology to make organs more widely available to patients who need them around the world."
Oern Stuge, MD, MBA, Executive Chairman, OrganOx said: "This investment from Lauxera represents a diversification of the Company's cap table and is an important step in the direction of getting ready for a potential future IPO."
For more information about OrganOx, please contact:
| OrganOx | |
| Joanna Bright | T: +44 (0) 1865 504024 |
| E: marketing@organox.com (mailto:marketing@organox.com) |
About OrganOx and metra
Based in Oxford, UK, OrganOx is a world leader in normothermic machine perfusion dedicated to saving lives by making every donated organ count. The multi-award winning OrganOx metra uses proprietary NMP technology to preserve donor livers in a functioning state for up to 24 hours prior to transplant.
metra is a fully automated NMP device that enables continuous monitoring and evaluation of the liver, empowering surgeons to make evidence-based decisions on whether to transplant a donor organ, enabling viability testing and transplant of previously declined organs. metra is commercially available in Europe
(CE Mark) and the United States (FDA Approved: P200035).
OrganOx's kidney perfusion device is currently in human clinical trials.
For more information, please visit our website: organox.com.
About Lauxera Capital Partners
Founded in January 2020, Lauxera Capital Partners is an independent asset management company based in France (Paris) and in the United States (San Francisco). Lauxera is a healthcare specialist investor working to promote the growth of European HealthTech companies.
Its first fund, Lauxera Growth I, was reserved for professional investors and obtained the French government's "Tibi" label within the framework of the institutional investor's charter for the financing of technology companies. Led by a team of life sciences business builders and professional healthcare investors with more than 50 years' experience, Lauxera aims to support the international commercial expansion of Europe's most promising HealthTech innovations.
For more information, please visit: lauxera.com
