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Terumo to acquire Oxford spin-out OrganOx in $1.5b deal

Ella Day | August 26, 2025 | News story | Mergers and Acquisitions Corporate, OrganOx, Terumo, University of Oxford, organ transplantation 

Japanese medical technology company Terumo has announced it will acquire OrganOx, a University of Oxford, UK, spin-out specialising in organ preservation devices, in a deal valued at around £1.5b.

Founded in 2008, OrganOx develops machines that keep donor organs supplied with oxygen and nutrients at body temperature outside the human body – known as normothermic machine perfusion. This approach allows organs to remain viable for longer and enables clinicians to monitor their function before transplantation. Such technology is seen as particularly valuable in making use of “marginal donors” – organs that might previously have been considered unsuitable.

The acquisition marks Terumo’s entry into the organ transplantation sector, an area with growing demand and high unmet medical need. OrganOx’s flagship device, the metra, received US regulatory approval in 2021 and is now in use across the US, UK, Europe, Canada and Australia. Currently, it has supported more than 6,000 liver transplants worldwide.

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Oern R Stuge, executive chairman of OrganOx, commented: “Today’s announced transaction is expected to expand the adoption of our transplantation technology platform by leveraging Terumo’s global infrastructure to benefit more patients around the globe.”

Signed on 23 August 2025, the deal is expected to be finalised following standard financial adjustments.

Ella Day

26/8/25

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