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Healthcare IT

Garheng Kong named top healthcare investors of 2025 by GrowthCap

2025

Financing strengthens OrganOx to expand its leadership position in organ technology

Oxford, England and Madison, New Jersey, February 24, 2025 - 

OrganOx Ltd., a leading organ medical technology company, successfully completed a $142 million primary and secondary equity financing to accelerate growth opportunities for its metra® platform technology in the large and high growth organ technology global market. The oversubscribed round was led by new investor HealthQuest Capital with support from existing OrganOx investors BGF and Lauxera Capital Partners, along with additional new investors Sofina, Soleus Capital, and Avidity Partners. Existing OrganOx investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures.

Approved in the U.S., Europe, Canada, and Australia, the OrganOx metra® is a normothermic machine perfusion (NMP) platform technology that has been utilized in over 5,000 liver transplants to date. It keeps donor livers in a metabolically active state outside the body, providing transplant teams the opportunity for functional assessment of the organ prior to transplant and leads to an increased number of organs available for transplant. The company also has an investigational metra® technology for kidney transplants which is expected to soon begin U.S. clinical trials. Further, in partnership with eGenesis, Inc., OrganOx expects to begin a first-in-human clinical study of the use of its metra® technology combined 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 work together to improve patient care and outcomes,” said Oern R. Stuge, MD, MBA, and Executive Chairman at OrganOx.

“We’re thrilled to back OrganOx as they advance a technology platform that successfully addresses the quadruple aim of healthcare, benefitting patients, healthcare providers, and global societal health, in a manner that is cost-neutral to the standard of care,” said Garheng Kong, MD, PHD, and Founder/Managing Partner at HealthQuest Capital.

“OrganOx’s financial profile is unparalleled, and partnering with leading investors in this transaction – new and existing – further strengthens us to support the success of our current customers, to expand our customer base, and to enter new markets,” said Steve Deitsch, Chief Financial Officer at OrganOx.

“BGF is proud of our investment in OrganOx and its tremendous performance since our first investment in 2019, and we are pleased to invest in the company again, together with the impressive group of assembled investors,” said Tim Rea, Co-Head of Early Stage at BGF.

“It has been a privilege putting this distinctive syndicate of healthcare specialist investors together,” said Samuel Levy, Founding Partner, Lauxera Capital Partners. “We have the technology, team, and financial firepower to drive the company’s next chapter.”

Piper Sandler acted as exclusive financial advisor and Latham & Watkins acted as legal counsel to OrganOx in this transaction.

HealthQuest Capital selected to GrowthCap’s top growth equity firms of 2024

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