Tech Transfer eNews Blog

Outset Medical becomes first Oregon State U spinout to go public, raising $278M

By Jesse Schwartz
Published: October 14th, 2020

Medical technology company Outset Medical has become the first spinout from Oregon State University (OSU) to go public, raising nearly $278 million in its initial public offering.

The almost 10.3 million shares sold bore an opening price of $27 and saw their value double in two days.

Founded in 2003, Outset has developed and commercialized a novel system for hemodialysis known as Tablo. The start-up licensed the technology from OSU in 2008, and between 2010 and 2018 it secured private investments of more than $300 million. Outset continues to contract with the university to further develop the Tablo system.

“It’s essentially a small-scale, efficient, water purification technology that would allow the use of tap water in dialysis as opposed to gallons and gallons of pre-purified water, expanding capabilities in developing countries,” says Brian Wall, associate vice president of research, innovation and economic impact at OSU.

“They are now targeting and focusing investment in [Tablo] over the next year to see if we can get it to a price point that works for the market,” Wall adds. “Outset is a terrific example of the kind of company OSU is proud to partner with, one that improves peoples’ lives while driving the creation of jobs, truly maximizing our impact.”

Source: Mirage

Posted under: Tech Transfer e-News

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