TransMedics, Inc., an Andover, Massachusetts-based developer of organ preservation technology, has closed a $36m financing.
The round was led by Abrams Capital with participation of existing investors Flagship Ventures, Hercules Technology Growth Capital and Kleiner Perkins Caufield & Byers. In conjunction with the funding, David Abrams and Travis Rhodes, Managing Member and Managing Director at Abrams Capital respectively, have joined TransMedics’ Board of Directors.
The company intends to use the funding to complete its heart and lung FDA pivotal trials and expand global commercial activities.
Led by President and CEO Dr. Waleed Hassanein, TransMedics is a medical technology company dedicated to extending the life saving benefits of organ transplantation to patients suffering from end-stage organ failure. Its Organ Care System (OCS™) Heart and Lung devices are portable preservation technologies that maintain donor organs in a near-physiologic and functioning condition from donor to transplant recipient.