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OrganOx, a medical technology company born out of the University of Oxford, has been sold for $1.5 billion after developing a fully automated system that keeps donated livers functioning outside the body for up to 24 hours. This device, used in more than 6,000 transplants so far, has helped doctors make better use of donated organs and has improved outcomes for patients waiting for a transplant.
The company’s growth was supported by BGF, which first invested in 2019 and took part in every funding round, alongside early backers such as Longwall Ventures and Oxford Investment Consultants, and later international investors including Lauxera Capital Partners and HealthQuest. With this exit, BGF reported its largest return to date, generating £175 million and a tenfold increase on its original investment.
OrganOx will continue to operate from Oxford as part of Terumo Corporation, which is expected to expand the device’s use worldwide. Leaders from BGF and OrganOx said the deal shows how long-term investment can help complex medical technologies move from university research to everyday clinical practice.
