Penningtons Manches Cooper advises world-leading medical technology company OrganOx on £25 million fundraise

Posted: 04/08/2023

The corporate team at Penningtons Manches Cooper has advised OrganOx on a £25 million growth round led by Lauxera Capital Partners, with support from existing investors.

OrganOx is a world-leading medical technology company committed to making every donated organ count with metra, a fully automated normothermic machine perfusion device for liver transplantation. With more than 2,500 OrganOx supported liver transplants successfully performed in Europe, the US and Australia, the rapid growth in the use of metra has been driven by the ability to preserve livers for longer periods than the current gold standard, enabling surgeons to assess liver function prior to transplantation.

The proceeds from the fundraise will enable OrganOx to significantly expand its commercial footprint across strategically key areas of the business. This includes expanding the customer-facing team in the United States due to high interest and adoption of the OrganOx technology. In addition, investment will be made in new infrastructure in both the UK and the US over the coming months to facilitate and accelerate programmes within the R&D pipeline, some of which will address large and underserved markets adjacent to liver transplantation.

The team advising OrganOx was led by corporate partner James Went, with support from senior associate Lindsay Chadwick and corporate tax partner Kathy Hills. James commented: “We’ve worked with OrganOx from day one of their journey - it is such a fantastic company and team, making a real difference to patients. It was great working with them on this round and we look forward to seeing them continue to expand the use of their exciting technology across the world.”

Craig Marshall, chief executive officer at OrganOx, commented: “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. I’d also like to thank James Went and Lindsay Chadwick and the rest of the Penningtons Manches Cooper team for their hard work, insights and advice on this transaction and helping us continue to deliver on our vision to make organs more widely available to patients who need them around the world.”

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