An agreement has been reached for the acquisition of OrganOx, a University of Oxford spin-out company transforming kidney and liver transplantation, by the Japanese medical technology company Terumo Corporation for US$1.5 billion.
The transaction, which is subject to regulatory and other approvals, would be the largest acquisition of an Oxford University spin-out to date, and one of the most significant venture capital exits in UK university spin-out history.
Founded in 2008 by engineering professor Constantin Coussios and transplant surgery professor Peter Friend, OrganOx originated from Oxford’s Institute of Biomedical Engineering and the Nuffield Department of Surgical Sciences, with support from the NIHR Oxford Biomedical Research Centre (BRC).
The company has since become a leader in advanced organ preservation technology.
OrganOx specialises in organ preservation devices that keep donor organs functioning outside the body for significantly longer than traditional methods. Using a technique known as Normothermic Machine Perfusion (NMP), its devices circulate warm, oxygenated fluid through the organ, replicating conditions inside the human body. This enables clinicians to assess organ function in real time and make better-informed decisions about transplantation.
The technology, which has been used in more than 6,000 transplants worldwide, has increased the number of viable organs available for transplant, including those from marginal donors, while reducing the need for emergency and night-time procedures.
The OrganOx systems are playing a key role in the Oxford BRC’s Surgery sub-theme focused on organ assessment and repair.