Biom’Up raises EUR 6.8 million
Biom’Up, a young company specialized in the manufacture of re-absorbable medical devices, announced that it has raised EUR 6.8 million in new funds from existing shareholders and acquired three new investors: the InnoBio fund, managed by CDC Entreprises under the ‘FSI France Investissement’ program, Viveris Management and OTC Asset Management.
As a result of the new funding, the new partners join the investors already associated with Biom’Up: Merieux Developpement, SHAM, Sofimac Partners, Aquasourca and L’Ameliane, alongside founders and managers Sylvain Picot (CEO) and Patricia Forest (deputy CEO and scientific director).
“Previous fundraising has enabled us to recruit the first members of the sales force and finance the R&D stages for two new product ranges,” explains Sylvain Picot, CEO of Biom’Up. “The new funds will be used to strengthen the sales team significantly in order to accelerate the roll out of domestic and export sales.”
Biom’Up plans to recruit several additional sales representatives in the coming year for France. On the export side, the company will focus its sales efforts on the US and Europe. At the same time, Biom’Up will finance a phase III clinical trial in Europe and the US for a new innovative range of products targeted at the major markets of surgery and regenerative medicine.
In addition, Biom’Up has implemented a development strategy in the US, filing initial applications (510k) with the Food and Drug Administration (FDA) and setting up a multi-disciplinary scientific advisory board consisting of recognized opinion leaders in France and the US.
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