TransMedics adds $13m to $51m funding round

TransMedics said yesterday that it added $12.5 million to the $51.2 million equity round it closed in May, taking its total raise to more than $63.7 million. Andover, Mass.-based TransMedics developed the Organ Care System, which 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 back in May, when the company announced the funding. 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 a July 11 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. 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...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Funding Roundup Transmedics Inc. Source Type: news