Organ Transplant Focused TransMedics to Raise Up To $91 Million in IPO

April 22, 2019

On 4/22/19, TransMedics updated their filing for an IPO to raise up to $91 million. The commercial stage company has developed an organ transplant support system for heart, lung and liver transplans that improve patient outcomes. The company intends to trade under the symbol, “TMDX.”

TransMedics support systems replaces cold storage for organs awaiting transplant with their Organ Care System (OCS) that mimics the conditions inside the human body. The compnay, “designed the OCS technology platform to perfuse donor organs with warm, oxygenated, nutrient-enriched blood, while maintaining the organs in a living, functioning state; the lung is breathing, the heart is beating and the liver is producing bile.” To date, OCS products have been used in over 1,200 human organ transplants.

In April, the company presented results of the EXPAND pivotal trial of its heart technology. According to the company, today in the U.S., only 30-35% of donated hearts are used for transplantation due to limitations of cold storage preservation. TransMedics presented results which demonstrated that using the OCS Heart resulted in successful transplantation of 81% of donor hearts that may not be used routinely with cold storage, with patient survival of 95% at 30 days after transplantation.

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