Proxima Clinical Research plans to launch its own medical technology accelerator, dubbed M1 MedTech.
The Houston-based contract research organization, or CRO, will launch the program early next year to support early-stage medical device companies. The accelerator will begin by focusing on medical devices that fall under the Food and Drug Administration's Class II and Class III designations, but Proxima plans to build out an even more extensive incubator focused directly on Class III devices in the future.
"Our goal is to move these companies substantially forward in a short amount of time," said Kevin Coker, CEO of Proxima. "Proxima is in a unique position to leverage our experienced team of regulatory, quality and clinical experts. We won’t be working at arm’s length from these companies. We will be a big part of what they do every day."
Proxima has raised funds for launching and investing in medical device companies as part of the initial cohort, and M1 MedTech is intended to offer an immersive experience to a limited number of companies accepted to each cohort. Applications for M1 MedTech are slated to open on March 1, 2022.
"This will be a unique experience for all parties involved, as Proxima is also a young, yet established, company that is now creating a program to assist companies at an earlier stage," said Proxima co-founder Larry Lawson. "Our experience in the CRO realm and ability to provide coaching in clinical, regulatory, quality and go-to-market strategies will only strengthen M1 MedTech’s ability to support the success of emerging companies and provide more life-saving technology to the public."
Lawson and Coker established Proxima Clinical Research in 2017. Lawson was formerly CEO of Preventice Solutions, a Minnesota-based health technology firm that was acquired by Boston Scientific Corp. (NYSE: BSX) in a $1.2 billion deal earlier this year. Based inside of the Texas Medical Center Innovation Institute at 2450 Holcombe Blvd., the company works with early-stage medical device and biotechnology companies to move their drug candidates or products through the regulatory process toward commercialization.
