Maxim Biomedical, Inc. Announces New Minority Investment Partner and Appoints Jonathan Maa as CEO

Strategic Investment and Leadership Transition Set to Further Propel MaximBio's Growth

ROCKVILLE, Md., July 29, 2024 /PRNewswire/ -- Maxim Biomedical, Inc., one of the nation's leading end-to-end rapid diagnostic test developers and manufacturers, has received a new minority investment from CTM Investments.

CTM Investments is a growth equity vehicle led by Jason Gray focused on investing in companies that matter and enabling businesses to achieve important goals for their customers, employees, communities, and owners.  Jason Gray serves as Head of Investment Team at Pritzker Vlock Capital Management (PVCM).  Investment partners in CTM include Elon Boms, Managing Director at PVCM and co-founder of LaunchCapital; Cliff Sirlin, Venture Partner at LaunchCapital and Partner at BuyBuildFund; Woody Benson, Venture Partner at PVCM; Meghan FitzGerald, Founder/CEO at Grey Ghost Capital; and more.

"We are passionate about companies that matter, about excellently run businesses, and about growth — and MaximBio has all three. We admire the long history of MaximBio and look forward to partnering with Jonathan and the team to support the company's business going forward," said investor Jason Gray.

As part of the shift to the next generation of MaximBio, Jonathan Maa is transitioning from the role of Chief Operating Officer to the role of Chief Executive Officer. Previous Chief Executive Officer and Co-Founder Dr. Joe Maa will transition to the role of Chief Scientific Officer.

Jonathan said, "It is my honor to now serve as MaximBio's CEO. We are proud to partner with some of the world's leading healthcare companies and government agencies to deliver diagnostic tests for many of the world's most pressing indications. My goal in bringing on our new investment partners and in assuming the role of CEO is all about positioning MaximBio to leverage our core platform to serve our mission of improving patient outcomes."

Jonathan Maa continued, "Our history is marked by innovation and excellence, from the early days of HIV diagnostic testing to our recent achievements in rapidly scaling up COVID test manufacturing and providing millions of tests in response to the pandemic. We are committed to building on this legacy in IVD development and manufacturing for years to come."

Outcome Capital acted as the exclusive strategic and financial advisor to Maxim Biomedical.

About Maxim Biomedical, Inc.:
Headquartered in Rockville, MD, and focused on US manufacturing, Maxim Biomedical^® is a leading diagnostic development and manufacturing company providing innovative solutions to the global leaders in diagnostic healthcare. Our mission is to support private and public partners in the creation of diagnostic products that are affordable, accessible, and enable actionable testing to improve patient outcomes around the globe. For more information about MaximBio please visit https://maximbio.com

SOURCE Maxim Biomedical, Inc.