Ireland-based Proxy Biomedical Ltd. has announced a significant expansion plan, driven by new business and continued growth in revenues. The company will double its cleanroom manufacturing space with the expansion reaching completion during the second quarter of 2016.
Over the past 12 months, the company debuted a number of products to serve unmet market needs. Proxy expanded its range of resorbable and non-resorbable biomaterial solutions for vascular indications; launched the Proxy Bio-XT process that reinforces resorbable implants; and introduced the custom synthesized ProTEX Med polypropylene resin that is suitable for use in implantable textiles.
The company expects continued new product introductions in 2016 along with a coating capacity expansion and pre-clinical trials on antimicrobial implantable materials.
“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, CEO, Proxy Biomedical. “We continue to see substantial year-on-year revenue growth and we look forward to maintaining this momentum in the years ahead.”