Biom Up

About Biom Up

From a financial analyst's perspective, Biom'up S.A. presents a focused player in the surgical hemostasis market, a sector valued at over $2 billion globally. The company was established in 2005 in Saint-Priest, France, by Christian Gagnieu. Biom'up directs its resources toward developing and commercializing hemostatic products rooted in patented biopolymers, designed to simplify surgical procedures across various specialties including spine, cardiothoracic, general, and orthopedic surgery.

The company's business model centers on the design, manufacture, and sale of its collagen-based medical devices. Revenue is generated through direct sales to hospitals and surgical centers, as well as through distribution partnerships in certain European markets. The client base primarily consists of surgeons and hospitals performing procedures where uncontrolled bleeding is a significant risk. A key strategic decision was made to discontinue its legacy portfolio (COVA™, COVAMESH™, and MATRIBONE™) to concentrate exclusively on its core competency in hemostasis, a move that initially led to a temporary revenue reduction but sharpened the company's market focus.

Biom'up's flagship product is HEMOBLAST Bellows, a hemostatic agent designed to control bleeding across a wide range of surgical applications. Its key feature is its ready-to-use format, which requires no preparation, mixing, or heating, addressing a significant drawback of competing products that can require several minutes of preparation. This product received a crucial Pre-Marketing Approval (PMA) from the U.S. FDA in December 2017, seven months ahead of schedule, opening access to the substantial U.S. market, which accounts for nearly half of the global market. The approval was based on a successful clinical trial involving 412 patients, where the product demonstrated 93% efficacy at 6 minutes. To complement HEMOBLAST Bellows, the company is developing HEMOSNOW, a hemostatic dry powder for minimal to mild bleeding, which leverages the same applicator system but is a lower-cost option as it does not contain human thrombin.

The company's journey includes significant financial milestones, such as a successful IPO on Euronext Paris in October 2017, which raised €42.5 million, followed by subsequent capital increases and a bond financing agreement with U.S.-based fund Athyrium. Since its inception, Biom'up has been supported by notable European investors including Bpifrance, Innobio, Gimv, Lundbeckfond, and Mérieux Participation. The leadership team has seen key appointments, with Patrice Ferrand, a veteran MedTech executive, taking the role of CEO in 2019 to steer the company's commercial expansion.