BioAmber raises $45M to expand its succinic acid platform


Pomacle/Paris/Minneapolis – French/US firm BioAmber Inc. has raised US$45 million dollars in a Series B financing led by Paris-based private equity firm NAXOS Capital Partners and with participation of BioAmber's largest shareholder, Sofinnova Partners, Mitsui & Co. Venture Partners (Palo Alto California) and the Cliffton Group (Montreal). In contrast to previous announcements, the company appears to have changed its business model from outlicensing the technology but not building larger plants on its own since its acquisition by DNP Green Technologies Inc late November. The company announced that it will use the investment to construct an industrial-scale production site for succinic acid in the US, an important chemical building block for production of the polyester PBS, for polyols and other raw materials for the chemical industry. Additionally, the company intends to fuel money into its ongoing partnership with Cargill that aims at establishing a second generation production organism besides the already existing metabolically engineered E.coli strain, which is being used in the company’s existing production site in Pomacle, France. BioAmber also announced that it will push the development of a technology licensed from DuPont that converts succinic acid to 1,4-butanediol (BDO), a growing market (CAGR 6%) of 1.3 million tonnes per annum. The company is already developing and scaling-up a novel purification process to produce bio-based succinic acid. At the end of April, BioAmber and its Asian distribution partner mMitsui & Co. became exclusive suppliers of biobased succinic acid produced from wheat starch to Mitsubishi Chemical. The three companies are also conducting a feasibility study to build a succinic acid production plant next to Mitsubishi’s planned PBS production plant in Thailand and want to combine their platforms for the production of biobased succinic acid.



Montpellier – French researchers have identified the factor that renders human dendritic and myeloid cells largely refractory to HIV-1 infection. Overexpression of the SAMHD1 protein in cell culture effectively blocked infection...



Paris/Berlin – Germany and France are establishing a new form of cross-border cooperation in the life sciences. The French public health research institute Inserm and the German Helmholtz Association have agreed to build up joint...



Paris - Sanofi-Aventis was reminded that steady income flows in the pharma buisness are a thing of the past. The French drugmaker saw its earnings fall by nearly 30 percent in the first quarter, as low swine flu vaccine sales...



Sophia Antipolis – French nitric oxide-donating drug specialist NicOx S.A. has withdrawn the EU Marketing Authorization Application (MAA) for ist osteoarthritis candidate naproxcinod (Beprana) after a meeting of the European...



Paris – French researchers under Etienne Hirsch from the Pasteur University in Paris have discovered that glucocorticoid receptors (GR) play a pivotal role in inflammation-mediated damage of dopaminergic neurons in the course of...



Toulouse – Three French research clusters have earmarked EUR20 million to build a pre-industrial demonstration plant in the area of white biotechnology. The new facility, will test the feasibility of industrial production of 2nd...



Toulouse – Three French research clusters have earmarked EUR20m to build a pre-industrial demonstration plant in the area of white biotechnology. The new facility, named Toulouse White Biotech­nology (TWB), will test the...



Lyon – Fuelled by governmental support, the French biotech sector experienced a vintage year in 2010, with a second generation of companies now emerging. But according to the Life Science Panorama 2010 survey, released by the...



Lille – Biopharmaceutical company Genfit has signed a deal with drug giant Sanofi-Aventis to discover molecules to correct mitochondrial dysfunction associated with metabolic disease. Sanofi will have exclusive worldwide rights...

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