Enterprise Ireland
Annual Report and Accounts 2005

Proxy Biomedical - Medical Devices innovation in Galway

• Homepage
• Chairman’s Statement
• Chief Executive Officer’s Report

---

• Section 1
  Achieving Export Sales
• Section 2
  Investing in Research and Innovation
• Section 3
  Competing Through Productivity
• Section 4
  Starting and Scaling Companies
  • Start-Ups Class of 2005
  • CEO Forum - Building Scale
  • Proxy Biomedical
  • Duolog Technologies
  • First Ireland Spirits
• Section 5
  Driving Regional Enterprise

---

• Membership of the Board & Committees
• Organisation Structure
• Corporate Governance
• Financial Statements
• Office Network

Galway is known internationally as a world-class centre of excellence for the medical devices industry, so it was a natural choice for the location of Proxy Biomedical, an innovative start-up with high growth potential.

Proxy Biomedical has proprietary technology to produce new forms of medical implants. These unique devices replicate soft tissue structures so that they can repair or replace damaged tissue structures. They offer unique, more advanced alternatives than competitors and target growing markets for regenerative medicine and reconstructive surgery.

Proxy has already signed a strategic alliance agreement with Boston Scientific Corporation for global distribution of women’s health implants. General surgery implants are managed in part through agreements with MedChannel for United States markets and Fannin Healthcare for Ireland. The company is in the process of targeting European markets and hopes to have an alliance in place in China by the end of 2006.

Peter Gingras, founder and Managing Director of Proxy, has over 17 years’ experience in biomaterials and medical devices. He says:

“We’ve put together a very strong team of experienced professionals and we’ve had great support from Enterprise Ireland in projecting a strong corporate image to key international partners, end users and buyers. This is crucial for us as an emerging company bringing new products to global markets.”

Gingras is originally from Boston, where he made crucial contacts into Ireland’s medical devices industry through Biolink USA-Ireland, a growing networking body supported by Enterprise Ireland. Enterprise Ireland has supported Proxy from its earliest stages, providing equity funding, financial assistance for new product R&D, guidance on business planning and key introductions to international buyers.

Exports represent almost 100% of Proxy’s current turnover and future plans promise high growth and development for the company. Enterprise Ireland will continue to support the company through these crucial growth stages. The company currently employs 13 highly qualified staff and is based in Enterprise Ireland-supported facilities in the Science and Technology Engineering Centre at National University of Ireland, Galway.

www.proxybiomedical.com (link opens in a new browser window)