TransMedics snagged another $36.2 million in fundraising for its Organ Care System, looping in 15 investors as it moves toward an FDA application.
The latest round echoes TransMedics' $36 million haul in 2010. The company's organ-preservation device allows physicians to maintain donor organs in near-physiologic and functioning condition during transport for organ transplantation. The technology works for hearts, kidneys, lungs and other organs, and it's available in Europe after getting a CE mark in 2006.
That $36.2 million came in just a 9-day funding window, affirming TransMedics' clout in the world of life sciences VC. The company is in the midst of an FDA-approved, multicenter clinical trial comparing OCS to standard cold storage, and early results, published in The Lancet, have been promising, TransMedics says.
Researchers say the device could lead to a greater number of successful lung transplants around the world, as traditional storage can sometimes render donor organs unusable. There are similar preservation methods already on the market, but none is portable like OCS, TransMedics says.
The Andover, MA, company is supported by Foundation Capital and Kleiner Perkins Caufield & Byers, among others, and it has raised more than $127 million since its foundation in 1998.
- read the company's SEC filing
Special Report: TransMedics - Top 10 Medical Device VC Deals of 2010