AMSTERDAM, October 29 /PRNewswire/ -- Avantium announced today the successful completion of a EUR 18 millionprivate financing round. Avantium is active in the development andcommercialization of Furanics, Avantium's next generation biofuel andbioplastic, and the improvement of pharmaceutical products. The financingwill be used to accelerate its two proprietary development programs. Thefocus of the next-generation biofuel and bioplastic program is on large scaleproduction of Furanics and extensive car testing. Avantium's pharmaceuticalprogram encompasses the improvement of selected existing drugs. AescapVenture acted as lead investor in the financing. Other partners of theinvestment syndicate are Capricorn Cleantech Fund, ING Corporate Investmentsand Navitas Capital.

The remainder of the financing is used to buy out certain shareholders,including MVM, Signet Healthcare Partners and SR One, to align theshareholder base with the company's strategy. Avantium is pleased with thesupport of its existing shareholders DFJ Esprit, AlpInvest, EDB Investments,Eastman Chemical and Pfizer, who have decided to continue their support ofthe company and its growth ambitions.

Tom van Aken, CEO of Avantium stated: "We are delighted to secure thisfinancing and to strengthen the shareholder base of Avantium. We are verypleased by the participation of such high-quality investors. The newinvestors bring very strong expertise and experience in facilitating rapidlygrowing technology companies in the healthcare and cleantech arena. It marksthe next phase for our company and enables us to advance our productdevelopment programs. Closing this financing round of EUR 18 million in thecurrent turmoil of the financial markets is a clear sign of the strength ofthe company and the commitment of our new shareholders."

Michiel de Haan, General Partner of Aescap Venture and new member of thesupervisory board of Avantium, stated: "The Avantium organizationincorporates all the necessary elements to become a major Technology company.As Venture Capital investor we are proud to be able to support this companyand share our experience in this entrepreneurial process. Thanks to theproductive and intense interactions we had with management and the existingshareholders we were able to form the new shareholders consortium whichprovides the solid basis required to build Avantium into a world classcompany."

Profile Avantium

Avantium is a leading technology company in the area of advancedhigh-throughput R&D operating in the energy, chemicals and pharmaceuticalindustries. The company develops products and processes in the area ofbiofuels, bio-based chemicals and novel crystal forms of existing drugs byapplying its proprietary, high-throughput R&D technology. Avantium hasdemonstrated the potential of this technology by providing R&D services andtools to more than 70 companies worldwide. Avantium's customer base includesmany of the world's largest energy, chemicals and pharmaceutical companies,such as BP, Shell, Sasol, Pfizer and GSK. The company recorded over EUR 15million of revenues in 2007 and expects to continue the double digit growthof its profitable services & tools business in 2008. Avantium hasapproximately 130 employees; its offices and head quarters are based inAmsterdam, the Netherlands.

High-resolution pictures of Avantium laboratories, Furanics biofuels andtest car are available on request.

About Aescap

Aescap Venture is a venture capital company investing in private medicalcompanies in Europe. We help companies to shorten the timelines betweeninvention and introduction of the product. Aescap invests in high-potentialcompanies with realistic product opportunities and the potential to generatecash flow from licensing deals. This involves investments in all phases ofdevelopment with an emphasis on earlier stages. Aescap Venture's added valueis based on a multi-disciplinary team of experienced investment partners.Each has a proven track record of success and the skills to coachentrepreneurs in accelerating the growth of their companies.

For more information see: http://www.aescap.com

About Capricorn

Capricorn Venture Partners is a pan-European manager of venture capitalfunds seeking to invest in technology based growth companies. The CapricornCleantech Fund is Capricorn's third consecutive venture capital fund. Thefund invests in European growth companies developing innovative breakthroughtechnologies in the fields of renewable energy and energy efficiency, waterpurification and re-use, bio based material conversion and biorefineryplatforms, clean air, climate change, green chemistry and advanced materials,materials recovery and recycling. The fund benefits from an investment by theEuropean Investment Fund through the "Competitiveness and InnovationFramework Programme" of the European Union.

For more information see: http://www.capricorn.

About ING Corporate Investments

ING Corporate Investments is a key provider of mezzanine and equityfinancing to companies mainly in the Benelux. Its focus is on providingfinancial solutions for growth investments, buy-outs, (partial) exits,recapitalizations and a range of other transactions. ING CorporateInvestments is part of ING Wholesale Banking.

For more information see: http://www.ingwholesalebanking.com

About Navitas Capital

Navitas Capital is an investment company that invests in public andprivate companies, predominantly in the Netherlands. Navitas focuses oninvestment opportunities that are backed by management with proven solidentrepreneurial skills and companies with leading market positions. NavitasCapital manages several larger shareholdings in listed companies such asBinckBank, Eriks, OPG and Unit4Agresso. In addition, Navitas Capitalparticipates in the private companies Biretco, Domus Magnus and KinderopvangNederland.

For more information see: http://www.navitascapital.nl

For further information: please contact: Mari�tte Hoogendoorn at +31-20-586-8010