Oxford spin-out OrganOx sold to Japan's Terumo in $1.5bn deal

"British universities are capable of generating innovation and then achieving successful commercialisation"

"win-win situation"

OrganOx was founded in 2008 by professors Constantin Coussios and Peter Friend, who developed technology to preserve donor organs outside the body for up to 24 hours before transplantation. The preservation device has been used in more than 6,000 liver transplants worldwide. The company's main device won the MacRobert Award from the Royal Academy of Engineering. Japanese medical devices group Terumo acquired OrganOx for $1.5 billion (£1.2 billion). Founders, employees, Oxford University, the Royal County of Berkshire Pension Fund and investor BGF will receive proceeds, with BGF expected to gain about £175 million. The sale is among the largest UK medtech acquisitions and raises concerns about foreign ownership of UK spin-outs.

Read at Business Matters