OrganOx secures £4.6m from BGF to fund US commercial expansion
The investment from BGF will support the rollout of the metra liver preservation system in the United States.
OrganOx is a medical technology company that develops automated normothermic machine perfusion devices for liver transplantation. Its flagship product, metra, preserves donor livers and allows surgeons to assess function prior to transplant.
OrganOx has secured £4.6m in funding from BGF to support the commercial rollout of its metra liver preservation device in the United States. The company developed its automated system to maintain human donor livers with warm, oxygenated blood for up to 24 hours outside the body.
The fresh capital will enable the firm to scale its operations internationally, building on existing commercial traction across Europe, Canada and Australia. The metra is currently deployed in the US under an Investigational Device Exemption pending final regulatory review.
From the founder
"This investment is key for 2 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."
Craig Marshall
Chief Executive Officer at OrganOx
Investor perspective
"We are excited to be investing in another thriving business in the UK’s life sciences sector and growing our presence here in Oxford, one of the country’s most dynamic and innovative business communities. As the first company to commercialise a fully automated liver preservation system, OrganOx has radically disrupted the transplant market and we believe that the potential of this ground-breaking technology on global mortality rates could be significant. We are delighted to be supporting Craig and the team as they scale up OrganOx and take advantage of the opportunities to expand their reach and bring this critical technology to even more patients around the world."
Alex Snodgrass
Investor, BGF
Use of funds
- 01Expand into international markets
