News

Evonik and Bioamber team up
Enlarge image

BusinessGermany

Evonik and Bioamber team up

25.07.2012 - Evonik Industries and BioAmber join forces on catalysts for sustainable chemicals made from bio-based succinic acid.

Under the terms of the agreement, Evonik and Bioamber will jointly develop and manufacture catalysts for making BDO (1,4- butanediol), THF (tetrahydrofurane) and GBL (gamma - butyrolactone) from bio-based succinic acid. BDO, THF and GBL are large volume industrial chemicals used in a wide range of applications including polymers, paints, adhesives and solvents. The global market for these products, currently made from petrochemicals, is $4bn.

The two companies are well known to each other. Back in 2010, they started a joint development programme for a new generation of BDO catalysts. "Through our collaboration with Evonik, we have secured the expertise and capabilities we need to rapidly bring competitive BDO and THF technology to market," said Jean-Francois Huc, BioAmber CEO. "We are fortunate to have a partner of Evonik’s calibre who can both optimise and manufacture our immediate catalyst needs and also develop with us a new generation of catalysts," Huc added. Bioamber operates the world’s only dedicated production plant for bio-succinic acid in Pomacle, France with a 350,000 litre commercial scale fermenter. The US-based company is pouring more money into building new plants around the globe. Together with Mitsui & Co., it has broken ground in Sarnia, Canada on a 17,000 metric ton bio-succinic acid plant that will be operational in late 2013, with plans to expand capacity to 34,000 metric tons of succinic acid, and a 23,000 metric tons BDO plant in late 2014.

In order to fuel 1st growth, Bioamber has completed its Series C round of financing with net proceeds of $30m. The financing was closed in two tranches; a first tranche of $20m on November last year with existing investors Naxos Capital, Sofinnova Partners, Mitsui & Co. Ltd. and the Cliffton Group. A second tranche of $10m followed this February with specialty chemicals company Lanxess. All of BioAmber’s Series B investors participated in the Series C financing.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M and AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M and ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

MandAFranceGermany

03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOINVENT INTERNATIONAL AB (S)3.10 SEK9.15%
  • Allergy Therapeutics (UK)19.12 GBP6.94%
  • PHARMING (NL)0.48 EUR6.67%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • CHRONTECH PHARMA (S)0.07 SEK-12.50%

TOP

  • WILEX (D)3.15 EUR331.5%
  • SANTHERA (CH)68.55 CHF99.3%
  • ADDEX (CH)4.08 CHF85.5%

FLOP

  • MERCK KGAA (D)65.43 EUR-48.6%
  • HYBRIGENICS (F)1.83 EUR-29.1%
  • PROSENSA (NL)9.48 USD-26.2%

TOP

  • SANTHERA (CH)68.55 CHF3489.0%
  • GW PHARMACEUTICALS (UK)427.00 GBP780.4%
  • PAION (D)2.79 EUR304.3%

FLOP

  • CYTOS (CH)0.26 CHF-92.4%
  • EVOCUTIS (UK)0.21 GBP-92.0%
  • PROSENSA (NL)9.48 USD-68.2%

No liability assumed, Date: 24.07.2014