University of Alberta spinout Tevosol has been picked up by Bridge to Life but will maintain its base in Edmonton.
Tevosol, a US-based medical device technology developer spun out of University of Alberta, has been acquired by its peer Bridge to Life for an undisclosed amount.
Bridge to Life has committed $10m to a multi-centre clinical trial and commercial development of Tevosol’s ex-vivo organ support system that ensures lungs remain healthy during transport to the transplant patient.
Another $10m have been committed to the development of a second device that will preserve donor hearts. Tevosol will maintain its current base in Edmonton, Canada.
Tevosol secured $1.5m in seed financing in August 2019 that brought its total funding to $5m. It had already secured $1.5m in its first seed round in 2016, but further funding details could not be confirmed.
