Oxford-based medtech company, OrganOx, has recently secured an impressive £25 million in growth investment, signaling its ambitious plans for expansion. Founded in 2008 as a spin-off from the esteemed Oxford University, the company's latest funding boost serves as a crucial stepping stone towards its ultimate goal of an IPO.
Pioneering the way forward in medical technology, OrganOx is on a mission to revolutionize the availability of organs for transplantation by recreating the intricate conditions of the human body. With an infusion of fresh capital, the company is set to embark on an exciting journey, constructing cutting-edge manufacturing facilities and conducting an extensive array of post-market clinical evaluations. These bold steps firmly establish OrganOx as a trailblazer at the forefront of the industry, poised to reshape the landscape of organ transplantation.
Leading the funding round is Lauxera Capital Partners, demonstrating their confidence in OrganOx's innovative approach. Central to OrganOx's cutting-edge machine is its ability to continuously perfuse livers at physiological pressures using red blood cells that carry oxygen. Remarkably, this core technology has been under development for over 15 years and has already received FDA approval for liver preservation.
The life-saving potential of organ transplantation is nothing short of extraordinary. It has the power to not only save lives but also to profoundly transform them. The demand for organs is staggering, with an astonishing 100,000 individuals in the United States eagerly waiting on the national transplant list. To put it into perspective, a new patient joins this hopeful queue every ten minutes. These staggering numbers highlight the urgent need for innovative solutions and advancements in the field of organ transplantation. OrganOx is steadfast in its dedication to employing its Normothermic Machine Perfusion technology to make organs more readily available to patients worldwide. Craig Marshall, the CEO of OrganOx, expressed excitement about the opportunity to collaborate closely with Lauxera, propelling OrganOx to even greater heights in the United States and beyond.
The £25 million growth investment received by OrganOx represents a pivotal moment for the Oxford-based medtech firm. With its innovative technology, commitment to improving lives, and strategic partnerships, OrganOx is poised to make a profound impact on the organ transplantation landscape. As the company continues to push boundaries and expand its reach, patients in need of life-saving organ transplants can find hope in the progress being made by this dynamic and forward-thinking organization.