FranceFrance

BioAmber raises $45M to expand its succinic acid platform

10.05.2011

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.

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28.03.2012

Minneapolis/Banzancourt – Bioamber Inc. is one step closer to the environmental summit. The company's goal is to establish sustainable, "green" chemistry on an industrial scale. The French/US enterprise has now scaled up its...

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14.03.2012

Sophia Antipolis/ Madison – French NicOx S.A. and the global eye health specialist Bausch & Lomb have announced positive top-line results from their phase 2b dose finding study with BOL-303259-X, a nitric oxide-donating version...

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13.03.2012

Paris/Barcelona – French pharma company Sanofi strengthens its ties with the Spanish research institution CGR (Center for Genomic Regulation) in Barcelona. CGR stated on 12 March that the two partners agreed upon three years of...

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06.03.2012

Lyon – The sale of 1.6 million shares brought in €25.3m for French Adocia SAS during its IPO on the Euronext Paris. The price of €15.88 values the diabetes specialist at €96.1m at the upper end of the bookbuilding range. Late...

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05.03.2012

Pointing to a new study on Syngenta’s GM maize Bt11, France’s Environment Ministry has asked the European Commission to suspend authorisation for the use of the MON810 maize sold by US agri­biotech giant Monsanto as well. The...

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27.02.2012

Cambridge - Genzyme will shut the doors at its Cambridge R&D site by the end of the year, with up to 60 employees expected to lose their jobs. The move is part of an ongoing global restructuring of R&D by Sanofi, who purchased...

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07.02.2012

Lille – Shares of the French diabetes specialist Genfit S.A. almost doubled when the company published results of its Phase II study with the PPAR alpha and delta modulator GFT505. The compound has met the co-primary and...

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06.02.2012

Shares of the French diabetes specialist almost doubled when the companypublished results of its Phase II study with the PPAR alpha and deltamodulator GFT505. The compound has met the co-primary and secondaryendpoints while...

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02.02.2012

Bagneux - DBV Technologies is planning an IPO on Euronext Paris. The French pharmaceutical group specialising in the treatment of allergies was founded in 2002. DBV's proprietary technology Viaskin is used to administer an...

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12.01.2012

Berlin/Paris – Sanofi Pasteur has licensed a yeast strain from German Organobalance to produce vaccines. With the deal, the vaccines division of the French drugmaker will gain exclusive access to a modified strain of...

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