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Print Edition StoriesThursday, July 16, 2009
TransMedics lands $2.5M funding
By Mass High Tech staff
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TransMedics Inc., an Andover-based medical device firm, has raised $2.5 million in a debt offering, according to a regulatory filing.
The company, which was launched in 1998 to provide more effective organ transplant support technologies, submitted the filing with the U.S. Securities and Exchange Commission last week. The filing notes 13 investors participating in the debt financing, though it does not identify the backers.
TransMedics officials were not available for comment.
Last December, TransMedics pulled its registration for an initial public offering, which it had originally filed for on Sept. 14, 2007. The company had plans to raise $86.3 million to fund the development and marketing of its Organ Care System, or OCS, which is meant to keep harvested organs fresh prior to transplant. The company cited poor market conditions as the reason for its IPO withdrawal.
According to its website, TransMedics has raised more than $90 million in venture capital from 10 different firms — 3i Group, Alta Partners, CB Health Ventures, Flagship Ventures, JP Morgan, Posco BioVentures, Sagamore Bioventures, Sherbrooke Capital, Tudor Investment Corp. and VantagePoint Venture Partners.
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