NORTHBROOK, Ill., Aug. 2, 2023 /PRNewswire/ -- Bridge to Life Ltd.
(BTL), a leading global supplier of organ preservation and
perfusion technologies, announced today its divestiture of certain
assets to TransMedics, Inc., a wholly owned subsidiary of
TransMedics Group, Inc. (NASDAQ: TMDX), including its EVOSS heart
and lung and LifeCradle heart perfusion assets. BTL will use the
proceeds from the divestiture of these assets to focus on its core
preservation solutions business and its pending Food and Drug
Administration (FDA) submission for the VitaSmart™ Liver Machine
Perfusion System.
Commenting on the transaction, BTL CEO Don Webber said, "This transaction enables us to
strengthen our financial position and adequately fund the continued
expansion of our leading share in the global preservation solutions
market as well as continue the development of our VitaSmart
abdominal organ perfusion device. In May
2023, we announced the completion of enrollment of our
pivotal HOPE trial, and we expect to submit our Premarket Approval
application to the Food and Drug Administration later this year."
https://bridgetolife.com/early-closure-of-bridge-to-life-ltd-hope-liver-trial-enrollment-affirms-the-potential-of-hypothermic-oxygenated-perfusion/
Piper Sandler & Co. acted as
financial advisor to Bridge to Life. Canaccord Genuity LLC acted as
financial advisor to TransMedics. Cooley LLP acted as legal advisor
to Bridge to Life. Ropes & Gray LLP acted as legal advisor to
TransMedics.
For more than a decade, Bridge to Life Ltd. has set the
standard of care by providing the transplant community with the
gold standard Belzer UW® preservation solutions along with other
core products including EasiSlush®. The company also recently
announced promising interim pivotal study results for its
VitaSmart™ Liver perfusion device and completed enrollment in the
Bridge to HOPE Liver Clinical Trial well ahead of schedule. The
Company is setting a new standard in hypothermic oxygenated machine
perfusion with the unique HOPE protocol developed with leading
international organ transplant surgeons. Through developing highly
efficacious and sustainable technologies, Bridge to Life remains
steadfast in its ongoing mission to alleviate organ transplant
waiting lists by ensuring equitable access to these new innovative
technologies for all patients.
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