Maxim Biomedical today announced the promotion of Chief Operating Officer Jonathan Maa to CEO following a new minority investment from CTM Investments.
Rockville, Maryland-based Maxim Biomedical is the rapid diagnostic test developer and manufacturer that makes ClearDetect COVID-19 Antigen Home Tests and products for HIV testing.
Jonathan Maa’s father, Maxim Biomedical co-founder and former CEO Dr. Joe Maa, will now serve as chief scientific officer.
“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,” new CEO Jonathan Maa said in a news release. “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.”
“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,” he continued. “We are committed to building on this legacy in IVD development and manufacturing for years to come.”
The company did not disclose the size of the investment or other terms of the deal.
CTM Investments is a growth equity vehicle led by Jason Gray, the investment team head at billionaire Karen Pritzker’s Pritzker Vlock Capital Management (PVCM).
Other CTM investment partners include PVCM Managing Director Elon Boms (who co-founded Launch Capital with Pritzker and her late husband, Michael Vlock), LaunchCapital Venture Partner Cliff Sirlin, PVCM Venture Partner Woody Benson and Grey Ghost Capital founder and CEO Meghan FitzGerald.
“We are passionate about companies that matter, about excellently run businesses, and about growth — and MaximBio has all three,” Gray said in the news release. “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.”
