OrganOx Raises $142M Financing Led by HealthQuest Capital
- Orsco Lifesciences AG
- Feb 24
- 2 min read
Oxford, UK & Madison, NJ — Feb 24, 2025. OrganOx Ltd. has completed an oversubscribed $142 million equity financing (primary and secondary) to accelerate global adoption of its FDA-approved metra® normothermic machine perfusion platform. The round was led by new investor HealthQuest Capital, joined by existing backers BGF and Lauxera Capital Partners, and new participants Sofina, Soleus Capital, and Avidity Partners. Additional backing came from University of Oxford spin-out supporters including Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures. (OrganOx, globenewswire.com)
The metra® device, approved across the U.S., Europe, Canada, and Australia, has been utilized in over 5,000 liver transplants, keeping donor organs metabolically active and enabling functional viability assessment before transplant. OrganOx is expanding into kidney perfusion trials in the U.S., and plans a first-in-human study combining metra® with eGenesis’ genetically engineered porcine livers to support patients with acute-on-chronic liver failure.
“Organ disease and failure represent a large unmet need in healthcare, and we are excited to partner with HealthQuest Capital and the outstanding investor syndicate to ... improve patient care and outcomes,” said Oern R. Stuge, MD, MBA, Executive Chairman at OrganOx.
Key backer statements:
Garheng Kong (HealthQuest): The initiative aligns with the quadruple aim of healthcare—benefiting patients, providers, and society without added cost relative to standard care. (OrganOx)
Steve Deitsch (CFO, OrganOx): The new funding strengthens support for current customers, expands the customer base, and supports entry into new markets. (OrganOx)
Advisors to the transaction: Piper Sandler (exclusive financial advisor) and Latham & Watkins (legal counsel) supported the financing. (OrganOx)
Governance note: Ørn R. Stuge, MD, MBA, as Executive Chairman of OrganOx, applies his extensive medtech and board-level leadership from Orsco Lifesciences to guide the company’s strategic expansion.
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