Terumo has signed a definitive agreement to acquire OrganOx, a provider of organ preservation devices, in a deal valued at around $1.5bn.
The agreement will see OrganOx become a wholly owned subsidiary of Terumo, which previously invested in the former through its venture capital arm, in March this year.
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By integrating its experience in medical device design with OrganOx’s expertise in normothermic machine perfusion (NMP), Terumo aims to improve the availability of organ preservation devices on a global scale.
Terumo CEO Hikaru Samejima said: 鈥淥rgan transplantation represents a last resort for patients with limited treatment options, and addressing the unmet needs in this area carries significant social value.
鈥淒onated organs are an extremely precious medical resource, and OrganOx鈥檚 mission to deliver transplantable organs in optimal condition deeply resonates with our unwavering commitment to patients鈥擮ur Promise.鈥�
OrganOx, established in 2008 as a spin-off from the University of Oxford, has developed NMP devices that preserve organs longer by circulating nutrient-rich solutions at near-body temperature, allowing for real-time monitoring during transport.
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By GlobalDataIts liver NMP device, metra, was approved by the FDA in 2021 and has been used in more than 6,000 liver transplant procedures globally.
OrganOx is also working on a kidney NMP device, expected to be commercialised by 2030.
OrganOx executive chairman Oern Stug said: 鈥淥rganOx is a pioneer and leader in organ transplantation technology.
鈥淭oday鈥檚 announced transaction is expected to expand the adoption of our transplantation technology platform by leveraging Terumo鈥檚 global infrastructure to benefit more patients around the globe.鈥�
This deal is expected to address critical issues such as organ utilisation rates, the use of marginal donor organs, and post-transplant outcomes.
