BioAmber, a venture capital-backed bioenergy company that last month listed on the New York Stock Exchange, has carried out a listing on its sister European platform in Paris.
The company, which was created in 2008 and is based in Minneapolis, raised $80m from its US IPO.
Soffinova Partners was the lead investor during BioAmber’s Series B funding round in 2009 and remains one of the largest shareholders, most recently participating in a funding round last year.
Denis Lucquin, managing partner at Sofinnova Partners, said, ‘We are thrilled to have backed BioAmber throughout the listing process, which allows shares to be traded both in New York and in Paris.
‘We invested in BioAmber from the very beginning and are convinced of the company’s potential. BioAmber is founded on two key pillars: a revolutionary technology that offers a sustainable substitute to petrochemical products; and a talented team that successfully initiated the commercialisation of the company’s first products and the deployment of a solid industrial strategy.’
BioAmber listed eight million units in the US, consisting of one share of common stock and one warrant to purchase half of one share of common stock, at $10 apiece, down from the $15 to $17 range it had previously said it wanted them to go for. The stock is now trading at the $8.41 mark.
In December 2012, Sofinnova closed its seventh venture fund on €240m and launched a green seed fund.
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