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Boston Business Journal January 26, 2004
TransMedics lands
nearly $28M in second-round funding Woburn medical device company TransMedics Inc. has secured nearly $28 million in new, second-round venture funding to further develop its technology to keep organs fresher and healthier before they're transplanted. Flagship Ventures in Cambridge co-led the round with 3i US of Waltham and Menlo, Park, Calif., and CB Health Ventures in Boston and New York. A number of other investors also participated, including Sherbrooke Capital and Posco BioVentures. The company has raised $36 million in venture funding to date, having closed an initial $8 million round in September 2000. TransMedics makes a device dubbed a "Portable Organ Preservation System," which can carry, preserve and keep organs functioning for up to 24 hours. The goal is to allow medics and doctors to carry organs for transplant through greater distances and have them arrive healthier. TransMedics says
it's hoping for FDA approval of its technology following clinical trials
to test its safety and effectiveness.
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