TransMedics Group (TMDX) has filed a preliminary prospectus for an $86M IPO.
The Andover, MA-based medical technology firm has developed a product that it believes is a better way to preserve organs destined for transplantation. It says its portable Organ Care System replicates almost-in-the-body conditions for donor organs outside the body which avoids the risks associated with standard-of-care cold storage. It perfuses the donor organ with warm, oxygenated, nutrient-enriched blood which enables a heart to keep beating, a lung to continue breathing and a liver to continue producing bile while waiting to be placed into the recipient patient.
It submitted a U.S. marketing application in August 2018 for donor lungs, receiving a major deficiency letter (MDL) in November 2018. It submitted its responses to the MDL last month.
