Biom'up SA announced its product, HEMOBLAST Bellows, has been approved for open as well as laparoscopic surgery by the Australian TGA regulatory authority for commercialization in the sizeable and growing Australian market. Simultaneously, HEMOBLAST Bellows and its laparoscopic applicator have secured reimbursement through the PLAC (Prostheses List Advisory Committee), an independent committee which makes recommendations on the most clinically efficient and effective devices. The regulatory submission for approval of the product was initially filed on March 15th, 2018. Australia has a well-established market for the use of hemostatic devices, with the hemostats market forecasted to reach USD 30 million in 2020, with an annual growth rate of 7%. Biom'up expects first shipments of HEMOBLAST Bellows to Australia in the fourth quarter of 2019, under its agreement with LHC.

The prospect of the shipments allows the Company to remain confident in its ability to reach its 2019 revenue guidance of EUR 4.0 to 4.5 million.