France-based medical device maker Biom’Up raised €31.3m ($35.3m) in a series C round on Wednesday featuring Lundbeckfond Ventures, the corporate venturing arm of pharmaceutical firm Lundbeck.
Sham Innovation Santé, an investment vehicle of insurance provider Sham; Mérieux Développement, the investment arm of medical research holding firm Institut Mérieux; and Bpifrance Large Venture, a subsidiary of French sttate-backed fund Bpifrance, also contributed capital.
InnoBio Fund also participated in the round, as did Gimv, ACG Management, Sofimac, OTC Asset Management, Euroainvest and L’Améliane.
Founded in 2005, Biom’Up is developing collagen-based, absorbable medical devices, and the company’s latest product, Hemoblast, stops bleeding. The capital will go towards further development of Hemoblast and support clinical trials in the US and in Europe.
Biom’Up raised $7.7m in 2012 from Sham, Mérieux, Sofimac, L’Améliane, Aquasourca, InnoBio, OTC and Viveris Management. The company has not disclosed details of additional funding.
Casper Breum, partner at Lundbeckfond, has joined Biom’Up’s board, alongisde Laurent Higueret, investment director of Bpifrance Large Venture, and Karl Nägler, partner at Gimv.