Biom'up strengthens management team
/ Key word(s): Personnel
Biom'up strengthens management team
Saint-Priest, France, September 18, 2019 - 8h00 (CET) - Biom'up SA (the "Company"), specializing in surgical hemostasis, today announced that Patrice Ferrand was appointed CEO, replacing Dr. Jan Ohrstrom. Dr. Ohrstrom, who was appointed CEO in May of this year, remains Chairman of the Board, a role in which he has served for the Company since 2015. Mr. Ferrand will also be appointed Chairman of the Company's U.S. subsidiary, Biom'up USA, Inc.
With more than 30 years of experience overall and close to 16 years of general management experience in the MedTech industry, Patrice Ferrand is a veteran leader of commercial-stage organizations. Before joining Biom'up, Mr. Ferrand was CEO at Unilabs France, a leading provider of diagnostics services in Europe and Latin America. Prior to that, for more than 11 years he was General Manager of France & Benelux for Mölnlycke Health Care, a major provider of single-use surgical and wound care products.
Dr. Jan Ohrstrom commented: "The Board of Directors and executive team join me in welcoming Patrice Ferrand at Biom'up. Patrice is a deeply experienced leader of large, international, MedTech organizations and, in particular, of surgical product providers. He adds extraordinary depth to the management team and with the ideal skill set needed to complete its transformation from an R&D and clinical development company to a fully-fledged, scalable commercial-stage enterprise. I have enjoyed being the interim CEO of Biom'up for the past four months and look forward to working closely with Patrice to help him transition into the Company. The management team and the Board all look forward to working with him in the continued execution of the Biom'up strategy. I'm also happy to reiterate the full year 2019 global revenue guidance range of EUR4.0-4.5 million for HEMOBLAST Bellows that the Company provided this past May. An investor day will be held by year-end."
Patrice Ferrand said: "After the successful approval of its product in 2017 and through the scaling up of manufacturing and commercial operations in 2018, Biom'up has built an enviable early lead in the competitive hemostat market, both in the US and Europe. I am excited and honoured to be entrusted with its leadership at such an important point in the life of the Company."
The Company also announced the appointment of Evelyne Nguyen as Group CFO, Mrs. Nguyen's predecessor leaving at the end of September to ensure a smooth transition of responsibilities.
Evelyne Nguyen has more than 30 years of international experience in financial and strategic roles, including 20 years in the pharmaceutical and biotech industry. Before joining Biom'up, Mrs. Nguyen held several senior positions at Bristol Myers Squibb and Laboratoire Français du Fractionnement et des Biotechnologies (LFB). At LFB, she strengthened Finance, led a number of significant acquisitions and successfully managed cross-border strategic alliances and business development projects. She also brings to Biom'up strong experience in strategic transactions and financing for companies in the Life Sciences domains.
Lastly, Biom'up announced that the current CCO for the United States, George Makhoul, is appointed CEO of Biom'up USA, Inc., the Company's U.S. subsidiary. Mr. Makhoul, who joined the Group last January, has a long track record of success in commercializing medical products to hospitals and surgeons over the past 16 years combined with deep knowledge of the US hemostasis market. Under his supervision, the Company strengthened its presence in the United States and enabled the launch of its flagship product, HEMOBLASTTM Bellows, in a highly competitive market.
Founded in 2005 and based in the Lyon suburb of Saint-Priest (France), Biom'up develops and commercializes hemostatic products based on patented biopolymers designed to simplify the surgeons practices for open and minimally invasive surgical procedures, including laparoscopic, in multiple specialties such as cardiac, general, and orthopedic surgery. The Company's lead product, HEMOBLASTTM Bellows and its laparoscopic applicator are marketed in Europe and the United States.
HEMOBLAST Bellows is a hemostatic product to control bleeding in a broad range of open and minimally invasive surgical procedures including laparoscopy for multiple specialties such as cardiac, general, and orthopedic surgery.
Uncontrolled bleeding is a major surgical complication associated with higher mortality, longer hospitalization and higher rates of transfusions and reoperations. Beyond its impact on patient's health, this major complication causes excess costs in all surgical specialties and is a burden for hospital budgets across the globe. HEMOBLAST Bellows is the only surgical hemostatic agent approved by the FDA based on the validated SPOT GRADE(TM) Surface Bleeding Severity Scale (SBSS), which demonstrates the ability to control a range of bleeding from minimal (oozing), mild (pooling) and moderate (flowing) bleeding. HEMOBLAST Bellows is proven to control bleeding with flow rates up to 117 mL per minute. Due to its efficacy, versatility and ease of use, HEMOBLAST Bellows is quickly becoming a popular choice amongst U.S. surgeons looking for new options to control surgical bleeding challenges.
Biom'up obtained CE Marking for HEMOBLAST Bellows in December 2016. On the basis of compelling preliminary results (93% effectiveness at 6 minutes, compared with 74% for the control arm) in a major clinical trial, FDA approval for HEMOBLAST Bellows in December 2017, seven months ahead of the original plan. This allowed for the commercial roll-out of its lead product in the U.S. in the summer of 2018.
In July 2018, Biom'up additionally obtained CE Marking for its HEMOBLAST Bellows Laparoscopic Applicator designed to deliver the HEMOBLAST Bellows powder in all minimally-invasive procedures. In January 2019, the Company obtained the respective approval for HEMOBLAST Bellows Laparoscopic Applicator in the U.S. This has opened up new market segments, representing approximately 500,000 and 443,000 surgeries per year in Europe and the US respectively.
Currently the Company is working to expand the range of applications for HEMOBLAST Bellows. In addition, the approval from the Australian health authorities for the Company's lead product is expected during the second half of 2019.
18.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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