Biom’Up, a France-based medical device developer backed by pharmaceutical firm Lundbeck and insurance provider Sham, flotated on the Euronext Paris market today, raising €38.1m ($45m).

The company priced more than 3.6 million shares at €10,50 each, in the middle of the IPO’s €9.50 to €11.50 range, and achieved a valuation of €113m.

The IPO proceeds could go up to €43.9m if underwriters Bryan, Garnier & Co and RBC Capital Markets exercise their option to purchase additional shares by November 9.

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