BioAmber Completes $30M Series C

Inc. BioAmber Completed its Series C funding round with a net revenue of $30 million The funding was closed in two tranches; the first tranche of $20 million was closed on 4 November 2011 to existing investors, Naxos Capital, Sofinnova Partners, Mitsui & Co. Ltd. Ltd. And the Cliffton Group, and the second tranche of $10 million on 6 February 2012, with the specialty chemical company LANXESS. All of BioAmber’s B-Series investors participated in Series C financing.

LANXESS’ investment is the culmination of a strategic collaboration in the field of renewable, phthalate-free plasticizers. BioAmber and LANXESS are jointly developing phthalate-free plasticizers and expect to start sampling succine-based plasticizers in 2012. The companies are also collaborating in Sarnia, Ontario, to establish BioAmber’s first bio-succinic acid production facility in the world. LANXESS is the owner of the site and will provide BioAmber with the services and utilities needed to operate the facility.

In parallel with the investment, LANXESS will join the Board of Directors of BioAmber and appoint Jorge Noguiera as its Board of Directors. Jorge Nogueira is head of the Functional Chemicals business unit of LANXESS. Oh, Mr. Nogueira has over 30 years of experience in the chemical industry, working for leading multinational companies in the United States, Europe, Asia and Latin America. “Our investment in BioAmber demonstrates our commitment to the launch of a new generation of plasticizers that meet regulatory requirements and can also score sustainability,” said Mr. Nogueira’s

“We’re pleased to have LANXESS as a strategic investor alongside Naxos, Sofinnova, Mitsui & Co. And Cliffton,” said Jean-Francois Huc, CEO of BioAmber. “BioAmber is fortunate to have a strong, committed group of investors and we welcome Jorge Nogueira, a dynamic and experienced executive of the chemical industry to our board of directors”

“LANXESS is actively engaged in leveraging its Sarnia site to establish Canada’s largest bio-industrial park, offering land, energy and infrastructure for the development of new bio-industrial chemicals,” said Sandy Marshall, President of LANXESS Canada. “We are excited to be working closely with BioAmber to anchor the Bio-Industrial Park, and this investment is a natural extension of our collaboration,” said Mr. Marshall’s

BioAmber Inc.

BioAmber is a next generation chemical company Its proprietary technology platform combines industrial biotechnology, an innovative purification process and chemical catalysis to convert renewable feed materials into chemicals for use in a wide range of everyday products, including plastics, food additives and personal care products. BioAmber produces bio-succinic acid, which it believes to be one of the largest bio-based chemical manufacturing facilities in the world. Visit the company’s website at Amber-Bio Com