OrganOx, the medical technology company behind metra – an automated device for liver transplantation – has raised £25 million.
The growth round was led by Lauxera Capital Partners, with support from existing investors.
The proceeds from the fundraise will enable Oxford-based 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.
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.
“We are thrilled to have Lauxera Capital Partners at the table,” said CEO Craig Marshall. “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 technology to make organs more widely available to patients who need them around the world.”
Executive chairman Oern Stuge added: “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.”