Biom’Up, a Lyon, France-based manufacturer of re-absorbable medical devices, has raised €6.8m in funding.
Backers include existing shareholders Merieux Developpement, SHAM, Sofimac Partners, Aquasourca and L’Ameliane, and new investors the InnoBio fund, managed by CDC Entreprises under the FSI France Investissement program, Viveris Management and OTC Asset Management.
The company intends to use the new capital to strengthen the sales team in order to accelerate the roll out of domestic and export sales, as well as to finance a phase III clinical trial in Europe and the US for a new range of products targeted at the major markets of surgery and regenerative medicine.
Biom’Up has also 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.
Created in 2005 by Sylvain Picot, Patricia Forest and Dr Christian Gagnieu, the company designs, develops and manufactures re-absorbable medical implants for a range of surgical applications from nerve regeneration to cardio-thoracic surgery. It already provides:
- COVA (TM), a membrane for the prevention of adhesions and controlled healing, in Europe and the US and
- MATRI (TM) BONE, a bone regeneration matrix, in Europe.
Biom’Up currently employs 27 people, including eight engineers and three doctors.