OrganOx today announced the completion of its acquisition by Terumo in a deal valued at approximately $1.5 billion.
In August, Tokyo-based Terumo announced an agreement to acquire all outstanding OrganOx shares. The now-completed deal makes OrganOx a wholly owned subsidiary of Terumo. Terumo already had an interest prior to the acquisition, with its Terumo Ventures arm taking part in a $142 million fundraising round in March.
This marks the second major acquisition of an organ preservation technology company within the last year or so, after Getinge bought Paragonix for $477 million.
OrganOx specializes in normothermic machine perfusion (NMP). NMP and other ex-vivo machine perfusion (EVMP) technologies can preserve organs longer by circulating oxygen and nutrient-rich perfusate through the organ at near-body temperature, Terumo says. They also enable real-time monitoring of organ condition during storage and transport. This can help prevent the transplantation of organs with impaired function and lead to more effective use of organs from marginal donors.
The OrganOx liver NMP device, Metra, won FDA approval in 2021, then the company launched it in the U.S. in 2022. It also has regulatory approval in Europe, the UK, Australia and Canada as commercialization efforts continue in those regions. To date, the company touts the use of Metra in more than 6,000 liver transplant procedures worldwide. OrganOx also has a kidney NMP device under development, with eyes on commercialization around 2030.
The acquisition combines OrganOx’s technology with Terumo’s global scale and expertise in medical innovation. Terumo has existing lines of heart-lung machines already as well, operating within the vital organ space.
“The global need for donor organs remains urgent, with thousands of patients each year dying while waiting for a transplant or facing the risk of a failed transplant,” said Craig Marshall, CEO of OrganOx. “Our mission has always been to create a world where every organ counts. Joining Terumo will accelerate our ability to scale our operations more rapidly, enter new markets and ensure that more patients around the globe can benefit from our technologies.
“This milestone reflects the extraordinary dedication of our team, whose commitment to innovation and patient outcomes brought OrganOx to this point. With Terumo’s partnership, we’re positioned to deliver even greater growth and impact.”
