XOR-Labs Toronto (XOR), a spin-off from Toronto General Hospital at University Health Network, closed an additional CAN$2.85M financing round.
The round was led by lead investor Regenesis Limited Partnership, with participation from existing investors Xenios AG, MaRS Innovation and the entire founding team of the company.
The company intends to use the funds to continue to develop its products.
Led by Dr. Tom Waddell, CEO, XOR Labs Toronto, XOR is a medical device company focused on advancing organ transplantation and diseased organ treatment.
In particular, its XOR Ex Vivo organ repair technology aims to reduce waiting list of people who are in critical need for lung transplantation due to diseases such as Pulmonary Fibrosis, Cystic Fibrosis, Pulmonary Hypertension & Chronic Obstructive Pulmonary Disease (COPD) allowing transplant team to work with a known entity. The protective system does not stress or damage the organ, allowing the transplant team to assess the lung and, if required, treat it with medication or sophisticated therapies like gene therapy or cell therapy. This means that lungs that previously may have been discarded can now be repaired for a successful transplant and reduce the chances of rejection.