UK medtech startup OrganOx bag €22.3M as it prepares for a “potential future IPO”

Oxford-based OrganOx, a medtech startup, announced on Monday, that it has secured £25M (approximately €22.30M) in a growth round of funding led by Lauxera Capital Partners with support from existing investors.

The UK-based company claims to make every donated organ count with metra, a fully automated normothermic machine perfusion (NMP) technology for liver transplantation.

Oern Stuge, MD, MBA, Executive Chairman of OrganOx says, “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.”

Capital utilisation

This includes expanding the customer-facing team in the United States due to high interest and adoption of the OrganOx technology. This involves growing the customer-facing workforce in the US because of the demand and adoption of the OrganOx technology.

Additionally, new infrastructure will be built in both the UK and the US in the next months to support and speed up the R&D activities, some of which will address underserved markets adjacent to liver transplantation.

Craig Marshall, CEO of OrganOx says, “We are thrilled to have Lauxera Capital Partners at the table. 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 NMP technology to make organs more widely available to patients who need them around the world,” adds Marshall.

Saving lives by making every donated organ count

Founded in 2008, OrganOx claims to be a pioneer in normothermic machine perfusion and is committed to saving lives by making every organ donation matter.

Prior to transplant, the donor’s livers are kept in a functional state for up to 24 hours using the OrganOx metra’s patented NMP technology.

metra is an automated NMP device that allows continuous monitoring and evaluation of the liver, permitting surgeons to make informed judgements on the viability of donor organs and allowing for the testing and transplant of previously rejected organs.

The rapid expansion in the use of metra has been fueled by its ability to preserve livers for longer periods of time than the current gold standard.

The metra technology also makes it possible to arrange transplants on a regular basis during business hours, eliminating nighttime surgery, which enhances the surgical team’s ability to maintain a regular schedule.

According to the company, over 2,500 OrganOx-supported liver transplants have been successfully completed in Europe, the US, and Australia.

metra has a CE Mark and the FDA’s approval in Europe and the US, respectively. OrganOx’s kidney perfusion device is currently in human clinical trials.

About Lauxera Capital Partners

Founded in 2020, Lauxera Capital Partners is a privately held asset management firm with offices in Paris, France, and San Francisco, California. The firm is a healthcare-focused investor that supports the expansion of European healthtech companies.

Lauxera’s first fund, Lauxera Growth I, was designated for professional investors and received the French government’s “Tibi” label as part of the charter for institutional investors financing technology businesses. 

Lauxera aims to help the international commercialisation of Europe’s promising healthtech innovations.