Paragonix Technologies develops and manufactures FDA-cleared and CE-marked organ preservation devices, including the Paragonix SherpaPak®, LUNGguard™ Donor Lung Preservation System, and the LIVERguard™ System. Its devices use first-of-its-kind preservation methods that improve on traditional ice-and-cooler practices and integrate digital tracking and communication technologies. Paragonix complements its hardware with a comprehensive clinical support network and maintains one of the largest clinical registries of organ preservation data worldwide. The company says its products provide unprecedented physical and thermal protection during organ transport and deliver real-time tracking data via a native app. In 2022, over one in five thoracic donor organs transplanted in the U.S. were preserved and transported using a Paragonix device, and SherpaPak is the most commonly utilized device for U.S. heart preservation. The company is focused on expanding commercial reach, extending clinical service offerings, growing inventory, and advancing its transplant innovation pipeline. Paragonix Technologies is a medical device company developing the Sherpa product line for donor organ preservation and transportation. The Sherpa devices are single-use systems intended to provide safe, consistent cold ischemic storage for hearts and kidneys and to be used with current organ preservation solutions. Paragonix has exclusively licensed intellectual property from the University of Texas Health Science Center San Antonio and has established a pipeline of donor organ transport devices. The company is based in Braintree, Massachusetts and was founded in 2010. To date Paragonix has raised $3.4M in equity, debt financing and NIH grants and recently closed a $1.1M convertible debt round. Paragonix has achieved one FDA 510(k) clearance and filed two additional 510(k) submissions as it expands the Sherpa product line and aims to extend donor organ transport nationwide. Paragonix Technologies is a Cambridge, MA–based medical device company founded in 2010 by Dr. Lisa Maier and Tom DeBrooke. The company is commercializing single-use, portable organ preservation and transport devices branded as Sherpas. Its core technology was developed through licensing and collaboration with the South Texas Technology Management Office and The University of Texas Health Science Center at San Antonio. Paragonix began with a Sherpa for kidney transport and is planning to expand the product line to other organs. The company is focused on completing product development and regulatory submissions. It recently received a $710K loan from the Massachusetts Life Sciences Center to support those efforts.

Total raised

$26M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2023