BioAmber is a chemical company that uses biotechnology and chemical catalysis to transform renewable feedstock into chemicals that is headquartered in Montreal, Quebec and was founded in 2008. The company uses industrial biotechnology and chemical catalysis to create chemicals for several consumer products such as plastics, personal care products, resins, and food additives from renewable feedstocks.
On October 26, 2018 BioAmber's non-operational plant in Sarnia, Ontario was sold to LYC Biotechnology for $4.34 million as a US and Canada court supervised liquidation of BioAmber. The deal required court supervision at the request of BioAmber. BioAmber made the following public statement that the company was 'facing a liquidity crisis' and it had an 'inability to raise capital on public markets as a result of its recent delisting from the New York Stock Exchange and the Toronto Stock Exchange. On June 18, 2019 LYC Biotechnology released a statement telling the public they plan on making the plant in Sarnia, Ontario operational by fall 2019.
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