Oxford spin-out OrganOx raises new funding

7th February 2011

OrganOx Ltd, spun-out of the University of Oxford by Oxford University Innovation Ltd in 2008, has completed a Series B investment round of £2.75m. The round, which was over-subscribed, was supported by existing shareholders and a number of new ones, including the Royal Society.

Dr Les Russell, CEO of OrganOx, commented: “We are delighted to have received such strong support from both our current and new investors and we offer a warm welcome to our new investors. These funds will allow us to complete our clinical studies and prepare for market launch in 2012 and also to push forward with further exciting developments aimed at increasing the number of organs available for transplant.”

Tom Hockaday, Managing Director of Oxford University Innovation Ltd., said: “We are delighted that OrganOx is now in a financial position to launch to the market – nothing is more satisfying than seeing the success of a company that is based on the University’s excellent research, and which Isis has managed through to spin-out.”

Stephen Brindle, a partner with major shareholder Technikos, said: “I am pleased for Les and the team that they’ve been able to raise this money, especially in a financial environment which remains challenging for early stage high technology companies. Financing aside, we are keen to support a technology that so clearly addresses an unmet medical need – more than 2,000 livers each year are retrieved but then not transplanted. We are confident that the company’s device, once approved by the regulatory authorities, will enable surgeons to perform significantly more transplants with those organs that today would normally be discarded.”

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