// startup autopsy
Proxima Therapeutics
Targeted therapy, untargeted market strategy.
marketfitAcqui-hire
Fatal mistake: Proxima underestimated the slow hospital adoption cycle and reimbursement complexity for its novel intracranial radiation device.
| Founded | 1997 |
|---|---|
| Closed | 2003 |
| Country | USA |
| Sector | Healthtech |
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Key Events Timeline
FOUNDING
Proxima Therapeutics founded to develop targeted intracranial radiation therapy devices for brain cancer treatment.
PRODUCT LAUNCH
GliaSite Radiation Therapy System receives FDA clearance, validating the core technology.
FUNDING
Last funding round of $31M total raised as company attempts to accelerate commercial adoption.
SHUTDOWN
Failing to achieve commercial scale, Proxima Therapeutics is acquired, ending independent operations.