Montreal, Canada — BioAmber has raised a $19.2m loan from Bridging Finance which it will use to pay off an $8m loan from Tennanbaum Capital Partners, with the balance ear-marked for general corporate purposes.
BioAmber stresses that the loan does not contain any elements which could be converted into shares. Mario Saucier, cfo said: "This non-dilutive loan from Bridging Finance has allowed us to both lower our financing costs and strengthen our balance sheet."
He added that BioAmber is ramping up to full capacity.
