Oxford spin-out acquired in ‘landmark’ £1.1bn deal

OrganOx, a company that makes devices to keep organs alive outside the human body, has been bought by Japan’s Terumo Corporation in a “landmark” US$1.5bn (£1.1bn) deal.

The Oxford University spin-out’s technology has preserved organs for transplantation and, according to its creators, has already saved 6,000 lives.

The machines maintain organs by recreating body-like conditions – circulating blood-like fluids at body temperature while allowing the organ to breathe and take in nutrients.

Founded in 2008 by engineering professor Constantin Coussios and transplant surgeon professor Peter Friend, OrganOx has had its technology in use since 2013.

Prof Coussios said: “The machine essentially recreates around the organ an environment that fools it into thinking it is still inside the body.

“So blood-like substance flows through the organ at normal body temperature, the organ is able to breathe and consume nutrients normally, and that means that it is actually functioning outside the body very much as if it were still inside.”

The system also lets doctors “test drive” organs before transplant, checking their viability and function.

“We have over 6,000 patients who are alive today because of this technology – about 10 patients a day and rapidly rising,” Prof Coussios said.

He said the deal with Terumo would also allow the technology to be applied more widely, including “beyond transplantation.”

Adam Workman, head of investments and ventures at Oxford University Innovation, described the sale as a “landmark” deal.

“This was always about producing a sustainable technology the world over, and I will continue to be involved with my cofounder to make sure it finds its home in helping patients around the world,” Prof Coussios said.