Biom'up completes its Board of Directors with the nomination of Dr. Peter Byloos to support its international growth
Published: Sep 10, 2018
Saint-Priest (France), September 4, 2018, 8:00 a.m. (CET) -- Biom'up (the "Company"), a specialist in surgical hemostasis, today announces Dr. Peter Byloos' co-optation to its Board of Directors as an independent director. Dr. Byloos' international experience in the healthcare and medical equipment sectors, combined with his knowledge of the US market will contribute additional support to Biom'up's management team as the commercial roll-out of its lead product, HEMOBLASTTM Bellows, hits North America.
Dr. Byloos possesses solid experience in the healthcare sector. Currently CEO of Optegra Eye Health Care, a UK based eye treatment company, he previously served as CEO and President of Handicare, the specialized Norwegian equipment provider for the elderly and disabled and has occupied several International Leadership positions with CR Bard, a US medical device company, where he gained extensive knowledge of the surgical hemostasis market. Dr. Byloos also worked for a few years for Gimv, the European investment firm and one of Biom'up's historical shareholders, where he was a Partner and responsible for the development of the Health & Care platform. He is a Medical Doctor from the University of Leuven (Belgium) and holds a Master of Science in Management from the Boston University (USA).
Dr. Byloos knows the Company well, having previously represented Gimv on the Board of Directors as an Observer from 2015 to 2017.
Etienne Binant, Chief Executive Officer, commented: "I am happy to welcome Peter Byloos back to our Board of Directors. His professional qualities, wide-ranging and solid international experience in the management of companies in our sector will reinforce Biom'up's development abroad, particularly in the United States where HEMOBLAST Bellows is successfully making inroads."
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After obtaining expedited FDA approval for HEMOBLAST Bellows, 7 months ahead of original plan, Biom'up's efforts are focused on industrial activities and the recruitment of sales and marketing teams in the U.S. to prepare the mid-2018 commercial roll-out of our lead product in Europe and the U.S.
HEMOBLAST Bellows is an advanced hemostatic product to control bleeding in a broad range of surgical procedures, such as cardiac surgery, general surgery, and orthopedic surgery. Biom'up conducted a successful clinical trial in the United States with 412 patients admitted to cardio-thoracic, abdominal or orthopedic (lower limb) surgeries which met all of its primary and secondary endpoints. Given the compelling preliminary results (93% effectiveness at 6 minutes, compared with 74% for the control arm), the Independent Data Monitoring Committee (IDMC) unanimously recommended to stop the study after an interim analysis of the data, which allowed the Company to accelerate the submission of its filing for pre-market approval (PMA) to regulatory authorities in June 2017. On July 12, 2018, Biom'up obtained CE Marking for its HEMOBLAST Bellows Laparoscopic Applicator designed to deliver the HEMOBLAST Bellows powder in minimally-invasive procedures. This has opened the way for the Company in a new market segment representing approximately 500,000 surgeries per year in Europe. In addition, on July 2, 2018 the Company filed a PMA supplement to obtain approval for HEMOBLAST Bellows for all laparoscopic surgical procedures in the United States.
Founded in 2005 and based in the Lyon suburb of Saint-Priest (France), Biom'up designs hemostatic products based on patented biopolymers that aim to simplify surgical procedures in numerous specialties (spine, cardiothoracic, general, orthopedic, plastic) and give patients a better quality of life. Its flagship product, HEMOBLAST Bellows, is a unique hemostatic solution, ready to use (no preparation time needed, no need to mix, no heat required), usable once or several times during the surgery and offering unique efficacy features. Developed by a world-renowned scientific team, HEMOBLAST Bellows has obtained positive results for all the primary and secondary endpoints of Phase III of its pivotal study involving 412 patients in the United States. HEMOBLAST Bellows obtained its CE Mark in December 2016, and its PMA (Pre-Market Approval) application was granted by the US FDA (Food & Drug Administration) in December 2017 with a view to the commercial launch in the summer of 2018. Since its creation, Biom'up has benefited from the support of prominent European investors such as Bpifrance, Innobio, Gimv, Lundbeckfond, Mérieux Participation, SHAM and ACG, as well as all the Company's managers, who have invested €2 million in equity. Biom'up successfully completed its IPO on Euronext Paris, raising €42.5 million in October 2017. This has been followed by a €16 million capital increase in February 2018 and a €25 million bond financing agreement with Athyrium, a US fund specializing in innovative companies in the healthcare sector, in March 2018.