Biom’Up, a French company that specialises in the manufacture of re-absorbable medical devices based on collagen technology, has raised €6.8m in financing from existing shareholders and acquired three new investors.
The company will use the new funding to help speed up its commercial development and to finance clinical studies into two new medical implant ranges.
“Previous fundraising has enabled us to recruit the first members of the salesforce and finance the R&D stages for two new product ranges,” said 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.”
The three new investors in Biom’Up are the InnoBio fund, Viveris Management and OTC Asset Management. They will join existing investors Merieux Developpement, SHAM, Sofimac Partners, Aquasourca and L’Ameliane.
Biom’Up, based in Lyon, France, will be focusing its sales efforts on the US and Europe. In addition, it will finance a clinical trial in Europe and the US for a new range of products in the areas of surgery and regenerative medicine.
Since 2009, the company has been selling its ranges of proprietary products. These include COVA, a membrane for the prevention of adhesions and controlled healing, which is sold in Europe and the US, and MATRI BONE, a bone regeneration matrix that is sold in Europe.
Siliconrepublic.com is hosting Med Tech Focus, an initiative which over coming months will cover news, reports, interviews and videos, documenting Ireland’s leading role in one of the hottest sectors in technology.