TransMedics, a medical device company focusing on delivering organ transplantation worldwide, has reported the closing of a $36m financing round. The financing was lead by Foundation Capital and Kleiner Perkins Caufield & Byers (KPCB) and also included investments by Ventures and by several existing investors.
TransMedics is the maker of the Organ Care System (OCS), a technology platform, which maintains donor organs in near-physiologic and functioning condition during transport for organ transplantation. It has the potential to improve post-transplant clinical outcomes and expand the number of transplant procedures performed annually based on its unique and proprietary capabilities to overcome the current challenges of cold storage approach to donor organs.
Waleed Hassanein, president and CEO of TransMedics, said: “We are excited at the high level of confidence our investors have in our transforming technology and market potential. This financing enables us, over the next two years, to expand our commercial presence into the US market with our heart OCS device and to globally launch the OCS lung device.”
Adam Grosser, general partner of Foundation Capital, said: “All of us at Foundation are thrilled to be part of such a high quality company and investor syndicate. TransMedics’ OCS system can positively impact the quality of life for thousands of people each year, and will fundamentally change the way society thinks about organ transplantation. We are proud to play a small role in their team’s road to commercial success.”
Joe Lacob, partner of KPCB, said: “The field of solid organ transplantation is undergoing revolutionary advances, and TransMedics is positioned to emerge as the world leader in the field. We at Kleiner Perkins are extremely motivated to invest in companies that matter, that improve peoples lives in a significant way TransMedics clearly meets that criteria.”