Commercial-stage organ technology company OrganOx announced it has completed a $142 million primary and secondary equity financing.
New investor HealthQuest Capital led the oversubscribed round with participation from existing investors BGF and Lauxera Capital Partners and new investors Sofina, Soleus Capital and Avidity Partners.
Existing investors also include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures.
WHAT IT DOES
OrganOx, which came out of the University of Oxford in 2008, develops technologies aimed at improving outcomes for patients with acute or chronic organ failure. The OrganOx metra is a normothermic machine perfusion platform approved in the U.S., Europe, Canada and Australia.
OrganOx is also working on an investigational metra technology for kidney transplants, which will be undergoing clinical trials in the U.S. shortly.
The company will use the new funds to accelerate growth opportunities for its metra platform.
“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,” Dr. Oern Stuge, executive chairman at OrganOx, said in a statement.
MARKET SNAPSHOT
Other companies in the organ disease and transplant space include Ubie. In 2024, Ubie and the American Kidney Fund collaborated to fine-tune Ubie’s AI-enabled symptom checker for kidney disease detection with the aim of accelerating a patient’s time to treatment.
Through the partnership, AKF would provide 25 to 30 patients who know the cause of their kidney disease to assist Ubie in refining its symptom checker, specifically pertaining to diagnosing kidney disease.
In 2023, Strive Health announced it signed a multiyear deal with Oak Street Health, a chain of primary care clinics geared toward the Medicare population to provide care to patients suffering from stage 4 chronic kidney disease to end-stage kidney disease. Strive Health’s platform integrates chronic kidney disease and end-stage renal disease patient data from various systems into one. The platform evaluates disease progression and generates predictions about a patient’s condition.
In 2021, tech-enabled transplant company CareDx acquired Transplant Hero, the maker of an app that helps people receiving new organs remember to take their medication.
CareDx’s app, AlloCare, is designed to help patients manage their health post-transplant. According to the company, Transplant Hero’s tool aims to build out CareDx’s cloud-based products, which cater to patients, dialysis providers and transplant centers.