Novel Wound Healing Treatments Move Forward as French Biotech Raises €25M
Biom’up has raised €25M to develop its collagen-based powders designed to facilitate wound healing in a variety of surgeries.
Biom’up, a French biotech specializing in devices for biosurgery, and Athyrium Capital Management have closed the first tranche of €25M bond financing to bring its surgical wound healing devices closer to a European and US market launch.
Biom’up’s devices use a collagen powder that constricts blood vessels by getting platelets in the blood to aggregate and by activating cell signaling cascades involved in blood clotting. This can help lead to hemostasis, the first step of wound healing in which bleeding stops. One device, called Hemosnow, is intended to be used in surgeries that remove a woman’s ovaries and fallopian tubes. The second device, called Hemoblast Bellows, can be used in neurosurgical, ophthalmic and urological procedures.
Last year, Biom’up raised €42.5M with its IPO on Euronext Paris, and earlier this year raised €16M in another public offering.
Biom’up is joining the ranks of other European biotechs that are developing devices to improve surgery. For example, Ergomed is developing a coagulant peptide, Polyganics is developing a polymer-based sealant patch and Gecko Biomedical recently got approval for a light-sensitive surgical glue.
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