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.

http://www.european-biotechnology-news.com/news/news/2012-03/evonik-and-bioamber-team-up.html

FinancingBelgium

28.04.2015 After having raised €100m in its stock market debut, MDx company Biocartis has gained 13 percent on its first trading day.

R&DFranceUKSweden

24.04.2015 AstraZeneca has boosted its oncology portfolio by signing a US$1.275bn agreement with Innate Pharma. The companies plan to further the development of Innate’s tumour-targeting antibody.

PoliticsEU

22.04.2015 A legislative proposal by the European Commission is set to renationalise market authorisation of genetically modified crops.

FinancingUK

21.04.2015 Ahead of its listing on the London Stock Exchange, Woodford’s Patient Capital Trust has raised a record sum of €1.1bn. The fund met with immense interest by investors.

Swiss Biotech DaySwitzerland

16.04.2015 The Swiss biotech industry can look back on 2014 as a good year, but political uncertainties do remain. This was one of the topics discussed during the Swiss Biotech Day in Basel, which attracted more than 400 participants.

EventEUFrance

16.04.2015 The changing landscape in healthcare was just one of the hotly discussed topics of the 27th Annual EuroMeeting of the international association DIA.

R&DBelgium

14.04.2015 Belgian Thrombogenics NV has launched a new oncology company with Gent-based life sciences institute VIB. The new venture will develop an antibody for the treatment of a fast-growing brain tumour that affects children and adolescents.

Stock MarketsEUFranceUKNorwaySweden

09.04.2015 The European public markets remain highly attractive for biotech companies. Twice as many companies went public in the first quarter of 2015 than during the same period last year.

FinancingAustriaUKSwitzerlandGermany

08.04.2015 To bring its lead product of a new class of antimicrobials to phase 3 trials, Nabriva Therapeutics has completed a US$120m Series B financing.

Research & DevelopmentNetherlands

07.04.2015 Gene therapy is attracting more and more big pharma companies. Now, Bristol-Myers Squibb has forged a US$1bn collaboration with Dutch uniQure, also picking up a 4.9% share in the company.

Events

All Events

Partner-Events

München

BioVaria 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • WILEX4.84 EUR34.82%
  • FORMYCON31.25 EUR11.61%
  • PAION2.76 EUR6.98%

FLOP

  • MEDIGENE12.41 EUR-3.42%
  • SANTHERA96.75 CHF-2.12%
  • MOLOGEN5.01 EUR-1.18%

TOP

  • WILEX4.84 EUR63.5%
  • FORMYCON31.25 EUR35.0%
  • CO.DON3.35 EUR29.8%

FLOP

  • CYTOS1.08 CHF-22.9%
  • BIOTEST78.40 EUR-18.9%
  • THERAMETRICS0.07 CHF-12.5%

TOP

  • SANTHERA96.75 CHF2368.1%
  • CYTOS1.08 CHF671.4%
  • WILEX4.84 EUR469.4%

FLOP

  • MOLOGEN5.01 EUR-55.5%
  • BIOFRONTERA2.40 EUR-26.8%
  • THERAMETRICS0.07 CHF-22.2%

No liability assumed, Date: 27.04.2015