TRANSMEDICS, INC. ANNOUNCES CLOSING OF $51.2 MILLION GROWTH FINANCING TO TRANSFORM ORGAN TRANSPLANT THERAPY
TransMedics, Inc., a medical technology company dedicated to improving quality, assessing viability and increasing the utilization of donor organs for transplantation announces today the closing of $51.2 million growth equity financing.
The financing was co-led by global life science investors Fayerweather Fund, Pharmstandard International S.A. represented by InBio Ventures, Ervington Investments, and BioStar Ventures. In addition, existing investors Abrams Capital, Lung Biotechnology PBC, Flagship Ventures and KPCB participated in this financing.
“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,” said Dr. Waleed Hassanein, President and CEO of TransMedics.
TransMedics has developed the Organ Care System (OCS™), a revolutionary first-in-class technology and multi-organ platform with the potential to improve outcomes for transplant patients and to dramatically increase the number of transplantable organs worldwide. The OCS™ is the only fully portable technology that maintains donor organs in a near-physiologic state outside of the human body and addresses the current limitations of cold storage. The OCS™ Heart and OCS™ Lung systems are CE Marked and used by leading transplant centers in Europe, Australia and Canada. The OCS™ Heart, OCS™ Lung, and OCS™ Liver systems are currently in clinical trials in the United States. The results of the OCS™ Lung INSPIRE trial were recently presented at the 2016 annual meeting of The International Society for Heart and Lung Transplantation (ISHLT) in Washington, D.C.
About TransMedics, Inc.
TransMedics, Inc. is the world’s leader in portable ex-vivo warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts, the company was founded to address the unmet need for more and better organs for transplantation, and has developed technologies to improve organ quality, validate organ viability, and increase the utilization of transplant organs for the treatment of end-stage heart, lung, liver and kidney failure. For more information please visit: www.TransMedics.com.