The Ireland-based company said it released a range of biomaterial solutions with vascular indications, both resorbable and non-resorbable, and is now a leading supplier of PTFE stent encapsulation.
“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. We continue to see substantial year on year revenue growth and we look forward to maintaining this momentum in the years ahead,” CEO Peter Mulrooney said in prepared remarks.
To accommodate those, and other technological additions to its portfolio, the company said it is expanding its facilities with an estimated completion date in the 2nd quarter of 2016.
The expansion will double cleanroom manufacturing facilities and allow for the introduction of a “suite of new technologies and biomaterial conversion processes.”
Proxy Biomedical said it expects to expand its resorbable biomaterial portfolio ion 2016, with pre-clincial trials scheduled for future developments in antimicrobial implantable materials.