Terumo Corporation has signed a deal to buy OrganOx, a University of Oxford spin-out transforming organ transplantation, for $1.5 billion.
The deal, pending approvals, will be Oxford’s largest spinout acquisition and a major UK venture capital exit. Founded in 2008 by Constantin Coussios and Peter Friend, OrganOx leads in organ preservation tech, using Normothermic Machine Perfusion (NMP) to extend the viability of donor organs outside the body.
This technology enables real-time assessment and has increased transplant success, including from marginal donors, reducing the need for emergency surgeries.
Used in over 6,000 transplants and awarded the MacRobert Award, OrganOx has contributed to saving lives. Oxford invested early through the University Challenge Seed Fund and Spinout Equity Management Fund. The organ device maintains the liver at body temperature, delivering oxygenated blood and nutrients to the liver.
KEY QUOTES:
“This technology was born from a deep collaboration between engineering and clinical science within the Institute of Biomedical Engineering, uniquely enabled by Oxford’s unparalleled cross-disciplinary innovation ecosystem. From the outset our aim was to solve one of transplantation’s greatest challenges: preserving organs in a viable state for longer, so at to make it possible to assess and potentially transplant what was previously thought untransplantable. Seeing that vision realised for the benefit of patients across four continents has been incredibly rewarding, and this acquisition will further enhance the global reach and impact of Oxford’s innovative science.”
Professor Constantin Coussios, Director of Oxford University’s Institute of Biomedical Engineering and co-founder of OrganOx
“As a clinician, I’ve seen first-hand the limitations of traditional organ preservation. OrganOx technology is transforming the landscape of organ transplantation, with huge impact on both patients and surgeons. The success of this venture results from a highly effective synergy between two academic departments, Surgical Sciences and Biomedical Engineering, and the University of Oxford’s support has been instrumental in translating our research into real-world impact.”
Professor Peter Friend, transplant surgeon, Director of the Oxford Transplant Centre from 2000 to 2022 and co-founder of OrganOx
“OrganOx’s success is a powerful example of how Oxford’s research can transform lives. This landmark acquisition not only celebrates a pioneering technology but also affirms the strength of our innovation ecosystem – built on deep collaboration, bold investment, and world-class science. It marks a proud moment for the University and signals the scale of impact we will continue to deliver through our world-leading research and associated spinouts.’”
Professor Irene Tracey, Vice-Chancellor of the University of Oxford
“OrganOx’s acquisition is a landmark moment for Oxford University’s innovation ecosystem. It reflects the strength of our spinout model and the long-term value of investing in transformative science from the earliest stages.”
Adam Workman, Head of Investments and Ventures at Oxford University Innovation
