CDC Enterprises helps Biom’Up to €6.8m funding round


CDC Entreprises is one of a trio of new investors joining a €6.8m financing round for French medical device maker Biom’Up.

Viveris Management and OTC Asset Management also took part in the funding alongside existing investors Merieux Developpement, SHAM, Sofimac Partners, Aquasourca and L’Ameliane.

Biom’up said it would use the latest capital to expand its sales team, having spent earlier funding on launching its sales force and financing R&D for two new product ranges.

The company, which was formed in 2009, said it would focus sales efforts on the US and Europe, while financing a phase three clinical trial for products targeting surgery and regenerative medicine.

CDC Entreprises investment director Thibaut Roulon said, “We are impressed by the positioning and the quality of the products developed by the company.

“The products developed by Biom’Up offer a response to identified medical needs across major markets and meet the expectations of surgeons.”

Biom’Up has previously been selling COVA, a membrane for the prevention of adhesions and controlled healing, and Matri Bone, a bone regeneration matrix.

CEO Sylvain Picot said, “The arrival of these new partners, which are highly committed to the life sciences sector, will enable us to cement our development in the European markets and penetrate the US market.”

Copyright © 2012 AltAssets