OrganOx Completes $142M Equity Financing Led by HealthQuest Capital

OrganOx Ltd., a leading organ medical technology company, has completed a $142 million primary and secondary equity financing to accelerate growth opportunities for its metra platform technology in the large and high-growth organ technology global market. 

The oversubscribed round was led by new investor HealthQuest Capital with support from existing OrganOx investors BGF and Lauxera Capital Partners, and new investors Sofina, Soleus Capital, and Avidity Partners. Existing OrganOx investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures.

“OrganOx’s financial profile is unparalleled, and partnering with leading investors in this transaction – new and existing – further strengthens us to support the success of our current customers, to expand our customer base, and to enter new markets,” said Steve Deitsch, Chief Financial Officer at OrganOx.

OrganOx metra is a normothermic machine perfusion (NMP) platform technology that has been approved in the U.S., Canada, Europe, and Australia. OrganOx metra keeps donor livers in a metabolically active state outside the body, providing transplant teams the opportunity for functional assessment of the organ before transplant and leading to an increased number of organs available for transplant. 

The company also has an investigational metra technology for kidney transplants, which is expected to soon begin U.S. clinical trials. In partnership with eGenesis, Inc., OrganOx expects to begin a first-in-human clinical study of the use of its metra technology combined with eGenesis’ genetically engineered porcine livers to support patients with acute-on-chronic liver failure.

“We’re thrilled to back OrganOx as they advance a technology platform that successfully addresses the quadruple aim of healthcare, benefitting patients, healthcare providers, and global societal health, in a manner that is cost-neutral to the standard of care,” said Garheng Kong, MD, PHD, and Founder/Managing Partner at HealthQuest Capital.

Piper Sandler acted as exclusive financial advisor and Latham & Watkins acted as legal counsel to OrganOx in this transaction.