Paragonix Technologies, a Cambridge, MA-based organ transplant company, raised $24M in Series B funding.
The round was led by Signet Healthcare Partners.
The company intends to use the funds to bolster its commercial presence, including the ongoing extension of clinical service offerings and inventory expansion, and to further advance transplant innovations.
Led by CEO Dr. Lisa Anderson, Paragonix Technologies provides Advanced Organ Preservation (“AOP”) devices that safeguard donor organs during the journey between donor and recipient patients. Its FDA-cleared and CE-marked devices incorporate clinically proven and medically trusted cold preservation techniques that allow physical and thermal protection to the organ in transit. Every Paragonix AOP device natively integrates with its digital app, delivering real-time organ tracking data and monitoring logistics for transplant teams seeking a secure and centralized solution.
The company offers three FDA-cleared and CE-marked devices: Paragonix SherpaPak®, LUNGguard™ Donor Lung Preservation System, and the LIVERguard™ System. All three devices utilize preservation methods and combine clinically-proven, stable preservation technology with a comprehensive clinical support network, augmented by the largest clinical registries of organ preservation data worldwide. They also incorporate digital tracking and communication technologies to provide complete control over organ tracking, monitoring, and reporting.
FinSMEs
07/03/2023