UK-based Green Biologics has raised a $25 million Series B round led by Sofinnova Partners. Morgan Joseph TriArtisan was exclusive financial advisor to the company.
Morgan Joseph TriArtisan LLC (“MJTA”) announced today that its San Francisco-based Technology, Media and Telecommunications Investment Banking Group was exclusive financial advisor to Green Biologics, of Oxford, UK, in the successful placement of a $25 million Series B round led by Sofinnova Partners, a global venture capital firm with €1.3 billion under management.
Green Biologics is a leading biochemical company focused on renewable n-butanol, which represents a $6 billion global market. The financing will enable the Company to achieve its commercialization efforts, and included strategic participation from Swire Pacific Limited, a multi-national conglomerate with ownership interests in various entities including Cathay Pacific Airways. Existing investors Capricorn Venture Partners, Oxford Capital Partners, Morningside Ventures, and Convergence Holdings, LLC also participated in the round.
“Given the global and complex nature of the biochemical industry, we want to commend Morgan Joseph TriArtisan’s team for its efforts in achieving this important milestone for the Company.” said Sean Sutcliffe, Green Biologics’ Chief Executive. “The investment brought us new strategic and financial investors, and positions us well for future growth as we continue to build a global leader in renewable chemicals.”
Gene Ramirez, Managing Director and head of the MJTA Technology, Media and Telecommunications Investment Banking Group, commented that “Green Biologics possesses a leading biochemical platform and has made significant strides in achieving its technical and commercial milestones. We are pleased to have been able to secure several highly respected strategic and financial partners for the Company as they proceed toward full commercial production.”
Gene Ramirez and Matthew McLeod, Vice President, at Morgan Joseph TriArtisan served as lead advisors on the transaction.
About Morgan Joseph TriArtisan LLC
Morgan Joseph TriArtisan LLC (www.mjta.com) is an investment and merchant bank engaged in providing financial advice, capital raising and private equity investing. The firm’s services include mergers and acquisitions, in addition to private placements and public offerings of equity and debt.
About Green Biologics
Green Biologics Ltd. (“GBL”) is a UK-based industrial biotechnology company, founded in Oxford in 2003 with offices and laboratories in Milton Park in Abingdon, Oxfordshire. GBL’s US offices are based in Gahanna, Ohio where it also maintains laboratories and pilot facilities. GBL specializes in the manufacture of renewable C4 chemicals and advanced biofuels. The company’s core focus is n-butanol, a backbone chemical used in paints, coatings, adhesives, inks, plastics, pharmaceuticals, food ingredients, household cleaners and personal care products with global markets exceeding $6 billion. GBL has developed advanced fermentation technology to produce renewable n-butanol from a wide range of feedstocks, including corn and cellulosic feedstocks such as agricultural and forestry residuals and municipal solid waste. GBL operates globally in Europe, North America, China, India and Brazil. For more information, please visit http://www.greenbiologics.com.
About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France. For more than 40 years, the firm has backed nearly 500 companies at different stages of their development – pure creations, spin-offs, as well as turnaround situations – and worked alongside Europe’s key entrepreneurs in the Life Sciences industry. With €1.3 billion of funds under management, Sofinnova Partners has created market leaders with its experienced team and hands-on approach in building portfolio companies through to exit. For more information, visit www.sofinnova.fr.
The Swire group was founded in Liverpool in 1816. The group’s interests span five continents, with principal operations in the Asia Pacific region, centering on Greater China, with additional major interests in UK, USA, East Africa, Sri Lanka, Papua New Guinea and Australia. Swire Pacific is one of Hong Kong’s blue chip publicly quoted companies and was formed in 1974 from an existing publicly listed Swire entity, as the holding company for the Swire group’s principal businesses in Hong Kong, Mainland China, Taiwan, Singapore and elsewhere. Swire Pacific’s interests are grouped under five divisions: Property, Aviation, Beverages, Marine Services and Trading & Industrial. The company is the major shareholder in three other Hong Kong public companies: Swire Properties, Cathay Pacific Airways and Hong Kong Aircraft Engineering Company (HAECO). Cathay Pacific and HAECO act as holding companies for Swire Pacific’s other Aviation Division businesses. Its Industrial interests range from paint manufacturing to sugar packaging and distribution for historic brand Taikoo Sugar, established by Swire in 1881.
Steven S. Anreder
of Anreder & Company
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