Isis Innovation, the University of Oxford’s technology transfer company
announced on the 15th December 2008 that OrganOx Ltd, a spin out from the University’s Institute of Biomedical Engineering
and Nuffield Department of Surgery has raised £1.5m in equity financing. This Series A round was led by Oxford Technology
Management Ltd and Technikos LLP. The Oxford University Challenge Seed Fund also participated in the round.
OrganOx is developing a device for sustaining organs outside the body using
blood at normal body temperatures. The device was developed by Professor Peter Friend, Director of the Oxford Transplant
Centre and President of the British Transplantation Society, and Dr Constantin Coussios, a Reader in Biomedical Engineering
at the University of Oxford. The device is capable of sustaining an organ in a functioning state outside the body for periods
of 3 days, using whole blood at normal body temperature. In the first instance, the technology will be used for improved preservation
and repair of livers prior to transplantation, and is expected to result in a significant increase in the number and quality
of transplantable organs.
In Europe and the US, around 11,500 liver transplants are undertaken each
year. However, there is a combined waiting list of around 30,000 patients and up to 25 per cent of these patients die whilst
awaiting transplantation. Over 2000 livers are discarded annually because they are either damaged by oxygen deprivation or
by intracellular fat. The OrganOx technology allows livers to be preserved for up to three days, more than three times
longer than is possible by conventional cold storage and the company expects that it will also allow livers currently deemed
unsuitable for transplantation, to recover to an acceptable standard for transplant.
“We are delighted to have concluded this financing round and to have
a syndicate of highly experienced life science investors on board with the Company. The funds raised will now be invested
in developing a working prototype of the machine and completion of the pre-clinical studies before undertaking clinical investigations,”
said Dr Les Russell, the CEO of OrganOx.
For more information, please contact:
Dr Les Russell, OrganOx: les.russell@organox.com
Dr Matthew Frohn, Oxford Technology Management Ltd: matthew@oxfordtechnology.com
Dr Anthony Colletta, Technikos LLP: a.colletta@technikos.co.uk
Notes to Editors:
About Oxford Technology Management Ltd (www.oxfordtechnology.com)
Oxford Technology Management Ltd is a seed and early stage venture
fund manager, specialising in UK based technology investments. Since 1983, the company has managed a series of ten funds,
including the four Oxford Technology VCTs, and most recently, the £30m Oxford Technology Enterprise Capital Trust LP. Oxford
Technology Management is authorised and regulated by the Financial Services Authority.
About Technikos LLP
Technikos LLP is a London
based venture capital business and invests in private companies within the UK and selected Western European countries, in
the area of medical technology, particularly as applied to the field of regenerative medicine. Technikos LLP entered
into a long-term partnership with the Institute of Biomedical Engineering at Oxford in 2006.
About Isis Innovation Ltd (www.isis-innovation.com)
Isis Innovation is the University of Oxford’s technology transfer
company. It provides researchers with commercial advice, funds patent applications and legal costs, negotiates exploitation
and spin-out company agreements, and identifies and manages consultancy opportunities for University researchers. It
is a subsidiary of the University of Oxford and has established itself as one of the best University technology transfer companies
in the UK.
