Bridge to Life has completed $110 million in Series C equity and debt financing to accelerate the U.S. commercialization of its VitaSmart Hypothermic Oxygenated Perfusion System and advance a broader pipeline of organ preservation and viability technologies.
The equity financing was led by new investor Soleus Capital alongside Lauxera Capital Partners, with participation from Bridge to Life directors, officers and employees. Debt financing was provided by the Soleus Capital Credit Opportunities Fund.
Bridge to Life plans to use the proceeds to expand its VitaSmart commercial and clinical field teams and provide working capital as it seeks to reach transplant centers throughout the U.S.
Additional capital will support development of the company’s product pipeline, including a proprietary organ viability assessment tool, expansion into additional organ applications and growth of its global operations.
A portion of the financing was also used to refinance Bridge to Life’s existing credit facility with Perceptive Credit Funds. The company said the refinancing significantly reduced its outstanding leverage and lowered its interest rate as Bridge to Life transitioned from an early-stage development business into a commercial organization.
VitaSmart received U.S. Food and Drug Administration De Novo clearance in January 2026.
Bridge to Life said VitaSmart is the first and only hypothermic oxygenated perfusion, or HOPE, system authorized by the FDA for use in liver transplantation.
The system is designed to support donor livers through hypothermic oxygenated perfusion before transplantation.
Bridge to Life said the initial U.S. commercial rollout has exceeded its expectations, with adoption across academic transplant centers, organ procurement organizations and several high-volume liver transplant programs.
The company also reported repeat orders and an additional pipeline of U.S. transplant centers moving toward adoption.
Bridge to Life is positioning the technology against a significant organ supply challenge. More than 100,000 patients in the U.S. are currently awaiting life-saving organ transplants.
The company believes perfusion technologies can help transplant teams increase utilization of donor organs that might otherwise not be used.
Beyond VitaSmart, Bridge to Life is developing an organ viability assessment tool intended to give transplant teams more objective information when deciding whether an organ should be accepted for transplantation.
Current assessments can depend on donor characteristics, visual inspection, clinical judgment and, during normothermic perfusion, measures such as lactate clearance and bile production.
Bridge to Life’s investigational tool is intended to add a validated biomarker-based assessment that could provide additional decision support for marginal and extended-criteria organs.
The viability assessment technology remains under development and has not been cleared for commercial sale.
Bridge to Life also plans to expand its preservation and perfusion platform beyond liver transplantation into additional solid-organ applications over the next three years.
The company is developing next-generation closed systems intended to simplify organ transport while supporting expansion of its international operations.
VitaSmart complements Bridge to Life’s established Belzer UW preservation franchise, which is used for cold static preservation and abdominal organ transplantation.
UBS Investment Bank served as exclusive financial advisor and placement agent to Bridge to Life. Morgan, Lewis & Bockius served as legal counsel.
KEY QUOTES:
“Bridge to Life is committed to improving transplant medicine through science-based solutions that bring more organs to more patients. This financing marks an important milestone for Bridge to Life and reflects the confidence our investors have in our technology, team, and long-term growth strategy. The VitaSmart launch has outpaced our expectations, as leading academic centers are adopting it rapidly. This financing enables us to meet that demand while advancing a pipeline that expands beyond liver transplantation to other solid organ transplants.”
“The Company would like to extend its appreciation for the financial support provided by Perceptive Credit Funds, through funding the Company’s VitaSmart clinical development, FDA clearance and initial commercial launch.”
Don Webber, CEO And President Of Bridge To Life
“We led this financing because Bridge to Life pairs an established preservation franchise with a newly FDA-cleared perfusion platform that is already rapidly being adopted in the field, and with a credible pipeline behind it. This is a combination we believe is unmatched in the transplant category. We are excited to partner with Lauxera with whom we share a deep understanding of this market and conviction in Bridge to Life’s future potential.”
Ben Lund, Partner At Soleus Capital
“We have substantial experience investing in organ transplantation devices and we have seen firsthand how difficult it is to carry a preservation technology from clinical promise through to routine practice. Bridge to Life has done exactly that with a technology combining long-duration perfusions, class-leading ease of use, an accessible price point and outstanding clinical outcomes. These characteristics will accelerate machine perfusion adoption saving lives and reducing costs for the healthcare system.”
Samuel Levy, Co-Founding Partner At Lauxera Capital Partners
