News

BASF & CSM form joint venture
Enlarge image

BusinessGermanyNetherlands

BASF & CSM form joint venture

08.10.2012 - German chemicals giant and Dutch CSM daughter Purac have formed a
50/50 joint venture to produce and market biobased succinic acid.

The largest chemical firm of the world, BASF SE (Ludwigshafen, Gemany), and the leading producer of biobased lactic acid, Purac NV (Diemen, The Netherlands), a subsidiary of Dutch CSM, have formed a joint venture. After three years of testing of a novel fermentation process on pre-industrial scale at Purac’s production site in Montmélo near Barcelona, Succinity GmbH is going to start the production and sale of biobased succinic acid from 2013 . Succinity, which will be headquartered in Düsseldorf Germany, will be the third player in the market for biologically produced succinic acid, an important chemical building block for making 1,4-butanediol (1,4-BDO), tetrahydrofuran (THF) and gamma-butyrolactone (GBL). These bulk chemicals are needed for making polyesters, polyurethanes, spandex and biodegradable plastics with a global market value of more than $4bn.

BASF and CSM are currently expand Purac’s fermentation facility to deliver an annual capacity of 10,000 metric tons of succinic acid from late 2013. This is complemented by plans for a second large-scale facility with an annual capacity of 50,000 metric tons of succinic acid to enable the company to respond to the expected increase in demand. The final investment decision for this facility will be made following a successful market introduction, according to the companies.

Despite stiff competition from Reverdia, a joint-venture of Dutch DSM and French Roquette, and US-headquartered BioAmber Inc., BASF wants to take a leading position in the market. „The market is large enough for all players“, said BASF spokesman Holger Kapp to EuroBiotechNews. Earlier this year, Reverdia announced it will start biosuccinate production at the end of 2012. At the beginning of 2011, BioAmber had already started production of 2,000 metric tons of biosuccinate at its French production site in Pomacle and has since then expanded its production and its capacities to produce 1,4-BDO. However, BASF has brought in a unique production technology. Its proprietary microorganism Basfia succiniciproducens can make  biobased succinic acid either from plant-made sugars or by glycerol, a waste product form biodiesel production. This might give Succinity a competitive edge over the competitor’s technologies that can only convert crop- or plant-made sugars.

© eurobiotechnews.eu/tg

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&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&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.

M&AFranceGermany

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.

FinanceBelgium

01.07.2014 Belgian antibody specialist Ablynx has raised €41.7m through a private placement of new shares and plans on boosting their range of nanobodies in development.

BioeconomyBelgiumUK

30.06.2014 Building on a £1.2m financing round, Celtic Renewables partners with a Belgian pilot plant to bring its bio-fuel made from whisky production residue to an industrial scale.

ConventionEUUK

25.06.2014 Sun, celebrities and a scandal - the world’s largest biotech convention is getting off to an explosive start in San Diego, California.

InvestmentGermanyNetherlands

24.06.2014 Bayer Healthcare is getting back into gene therapy with a US$252m deal aimed at the development of a haemophilia A treatment.

InvestmentNetherlands

20.06.2014 Tomtom founder Pieter Geelen invests in Dutch biotech Ocello, the company behind a 3D mapping technology used for predicting drug behaviour in patients.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • FLAMEL TECHNOLOGIES (F)14.70 USD11.28%
  • SERODUS (N)3.05 NOK7.02%
  • ADDEX (CH)4.54 CHF5.83%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • NOVACYT (F)4.48 EUR-10.04%

TOP

  • SANTHERA (CH)70.65 CHF111.2%
  • ADDEX (CH)4.54 CHF108.3%
  • CELLECTIS (F)13.43 EUR98.1%

FLOP

  • THROMBOGENICS (B)8.67 EUR-51.8%
  • MERCK KGAA (D)63.67 EUR-50.5%
  • VERONA PHARMA (UK)1.20 GBP-43.4%

TOP

  • SANTHERA (CH)70.65 CHF3111.4%
  • GW PHARMACEUTICALS (UK)443.50 GBP843.6%
  • IXICO (UK)55.50 GBP314.2%

FLOP

  • CYTOS (CH)0.24 CHF-93.1%
  • EVOCUTIS (UK)0.21 GBP-92.6%
  • THROMBOGENICS (B)8.67 EUR-73.0%

No liability assumed, Date: 10.07.2014