Oxford University’s transplantation spinout OrganOx acquired by Terumo Corporation in $1.5 billion deal
Oxford University has agreed a deal to sell its OrganOx spinout to global medical technology company Terumo Corporation for $1.5 billion, subject to regulatory approvals.
Founded in 2008 by Professor Constantin Coussios and Transplant Surgeon Professor Peter Friend, OrganOx has become a leader in organ preservation technology, specializing in devices that keep donor organs functioning outside the human body. Its devices have been used in more than 6,000 transplants across the world.
Using a technique called Normothermic Machine Perfusion, OrganOx’s devices circulate warm, oxygenated fluid through the organs during transit, replicating conditions inside the human body. This gives clinicians time to assess organ function in real time and make better informed decisions around transplantation.
The technology has also increased the number of viable organs available for transplant, including those from marginal donors and reducing the need for emergency and overnight procedures.
Oxford University was an early investor in OrganOx through the University Challenge Seed Fund and further funding through the Spinout Equity Management Fund.
The transaction is said to be the largest acquisition of an Oxford University spinout to date.
“This technology was born from a deep collaboration between engineering and clinical science within the Institute of Biomedical Engineering, uniquely enabled by Oxford’s unparalleled cross-disciplinary innovation ecosystem,” comments Professor Coussios, Director of Oxford University's Institute of Biomedical Engineering and co-founder at OrganOx.
“From the outset our aim was to solve one of transplantation’s greatest challenges: preserving organs in a viable state for longer, so at to make it possible to assess and potentially transplant what was previously thought untransplantable. Seeing that vision realised for the benefit of patients across four continents has been incredibly rewarding, and this acquisition will further enhance the global reach and impact of Oxford’s innovative science.”
Adam Workman, Head of Investments and Ventures at Oxford University Innovation, adds: “OrganOx’s acquisition is a landmark moment for Oxford University’s innovation ecosystem. It reflects the strength of our spinout model and the long-term value of investing in transformative science from the earliest stages.”
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