TransMedics closes $51.2m round to support its Organ Care System

TransMedics said today it closed a $51.2 million round of equity financing to support its Organ Care System organ preservation device. The company’s flagship Organ Care System is designed to perfuse donor organs with warm, oxygenated blood and monitor its status until transplantation. “We are thankful and excited to be supported by a world-class syndicate of new and existing life science investors. This financing strongly positions TransMedics to capitalize on the significant market opportunity in front of us,” CEO Dr. Waleed Hassanein said in a press release. The round was co-led by the Fayerweather Fund and Pharmstandard International S.A., represented by InBio Ventures, Ervington Investments and BioStar ventures, Transmedics reported. Existing investors Abrams Capital, Lung Biotechnology PBC, Flagship Ventures and KPCB joined the round. A total of 20 investors joined the round, according to an SEC filing. In February, TransMedics said it launched a pivotal study of its OCS Liver device, which is designed to keep donated human liver warm and perfused until transplantation. Andover, Mass.-based TransMedics said the 1st liver transplantation using OCS Liver was performed at Mass. General Hospital by Dr. James Markmann, a lead investigator for the 300-patient OCS Liver Protect trial and chairman of its steering committee. Last November, the FDA told MassDevice.com that it decided it didn’t need to hold an advisory panel meeting to review the T...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Surgical Transmedics Inc. Source Type: news