Galway, Ireland — December 21, 2015 — Proxy Biomedical Ltd. — a global innovator in the design, development and manufacturing of biomaterial based product solutions for medical implants — today announced a substantial facility expansion. Over the last 12 months, the company launched a series of innovative product solutions to address unmet needs in key markets and support growing customer requirements. The expansion is a direct result of new business, and continued revenue growth, supported by the recent launch of these new solutions.
Early this year, the company expanded its range of resorbable and non-resorbable biomaterial solutions for vascular indications. The company is now a leading supplier of PTFE encapsulation for stents, in addition to offering a range of biomaterial coating solutions for structural heart implants, as well as occlusion and retrieval devices.
Proxy also launched Proxy Bio-XT, a unique proprietary process that reinforces resorbable implants for applications such as soft tissue fixation in Sports Medicine and Orthopaedics. In April, the company released ProTEX Med polypropylene, a custom synthesized resin with a unique FDA Master File reference. The material will be used for manufacturing implantable textiles, facilitating the approval process for products, such as hernia mesh, used in General Surgery.
To accommodate these additional technologies and services and to meet growing demand, Proxy Biomedical is undergoing a substantial facility expansion, which is due for completion in Q2 2016. The company will double cleanroom manufacturing facilities, introducing a suite of new technologies and biomaterial conversion processes.
“It has been an exciting year for Proxy Biomedical, as we have expanded our technology portfolio and enhanced both our facility and our team, to better accommodate market needs and the growing demand for our product solutions,” said Peter Mulrooney, Chief Executive Officer. “We continue to see substantial year on year revenue growth and we look forward to maintaining this momentum in the years ahead.”
Looking forward to 2016, Proxy Biomedical expects to expand its solutions portfolio for resorbable biomaterials, in both textiles and solid implants. Pre-clinical trials are scheduled to evaluate innovative antimicrobial implantable materials, while the company’s coating capabilities are set for further expansion, to accommodate an ever greater range of indications.
Posted January 4, 2016
Source: Proxy Biomedical
