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Biom’up and Athyrium close first tranche of bond financing for €25 million with stock warrants attached

 

 

Saint-Priest, France, April 3, 2018 – 7.15 am Paris time – Biom’up (the “Company”), a specialist in surgical hemostasis, announced today the successful issuance by way of private placement of a €25 million bond with stock warrants attached subscribed by Athyrium Opportunities III Acquisition LP, a fund managed by Athyrium Capital Management, L.P. ("Athyrium"), as initially announced on February 14, 2018. This brings the total amount raised post-IPO to €41 million (€16 million in equity plus €25 million from the bond issue). Subject to certain conditions the bond issue may be topped up by an additional €10 million within a year.

 



The net proceeds from the recent equity raise and the bond issue will be used to increase Biom’up’s existing production capacity of HEMOBLASTTM Bellows, support the mid-2018 commercial rollout of HEMOBLAST Bellows in Europe and the U.S., add a second manufacturing facility close to the existing unit in Saint‑Priest, fund further preclinical and clinical trials for HEMOBLAST Bellows and HEMOSNOWTM and, finally, repay €7.6 million of the venture loan from Kreos Capital V (UK) Limited (“Kreos”).).

 

 

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