OrganOx, an Oxford University spinout which has developed a way of keeping organs ready to be transplanted alive and healthy outside the body, has secured £4.6m ($6.4m) in its latest fundraising round.
Focused at present on preserving livers, the funds will be used to further build its commercial roll out of its primary product, the Metra, across the UK, EU, US, Canadian and Australian markets.
The Metra works by simulating conditions within the human body, keeping the liver warm and well supplied with oxygenated blood and other nutrients until it is ready to be transplanted.
Craig Marshall, CEO of OrganOx, said: “This investment is key for two reasons. First, the funding will be critical in allowing us to execute our commercial plans in the US. Secondly, having BGF at the board table will ensure we leverage its impressive track record of successfully guiding growing businesses to achieve their full potential. Ultimately this is great news for all our stakeholders including current investors, employees and patients requiring a lifesaving organ transplant.”