Liver transplant device maker OrganOx has raised £25m in a financing round led by Lauxera Capital Partners ahead of a possible IPO.
Oxford-based OrganOx has created an automated normothermic machine perfusion device to transport livers to patients in need of a transplant. The device can take care of transplant livers for up to 24 hours.
“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,” said Oern Stuge, MD, MBA, executive chairman of OrganOx.
Its transplant device has been used to move over 2,500 livers across Europe, the US and Australia.
Keeping the liver out of the body for longer lets surgeons evaluate liver function beforehand and means surgery doesn’t have to take place at night.
The £25m raised by the medtech will be spent on UK and US R&D infrastructure in “markets adjacent to liver transplantation”. The company added it will build out its customer team in the US.
Craig Marshall, CEO of OrganOx, said: “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.”
The company also received investment from its previous backers.