OLED Materials Innovator CYNORA Secures US$25M in First Closing of Series C Round; Names Adam Kablanian as New Chief Executive Officer
Marking the initial closing of its Series C funding round, CYNORA today announced that it has secured US$25M in financing from investors in Asia, Europe and the US. Germany-based CYNORA is an emerging materials leader with a novel technology to produce ultra-high-efficiency emitter systems required for next-generation Organic Light Emitting Diode (OLED) displays. The company has raised US$80M since its inception in 2008. Final closing of the C round with an additional investment is expected shortly.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190513005032/en/
Adam A. Kablanian (Photo: Business Wire)
In a related move, CYNORA appointed Adam Kablanian as Chief Executive Officer (CEO). Kablanian joins the company as part of the C round. He succeeds Gildas Sorin who led the company through R&D and early customer engagements. Sorin will remain at CYNORA during the transition. Kablanian previously led several Silicon Valley-based public and privately-held companies, bringing complex technologies to market and building large infrastructures to support global customers. They include Virage Logic, an embedded memory leader he co-founded and took public before it was acquired by Synopsys. He also led PlasmaSi, an OLED encapsulation company acquired by Aixtron.
A Syndicate of Global VCs and Strategic Investors
The new Series C investors include: SRF Partners Group LLC (SRF), a US fund that includes financing from a Korean technology corporation; DBOLED LLC, a US fund, and SBI Cross-Border Advantage Fund, based in Korea. Existing investors also participated in the round. They include: MIG Funds, a leading German VC firm, and Wecken & Cie, based in Switzerland. Previous investors include LG Display and Samsung Venture Investment Corp.
Dan Rubin, a partner with SRF, joins CYNORA’s board.
The funds will be used to build a worldwide infrastructure to support the production, sales and support of CYNORA’s Thermally Activated Delayed Fluorescence (TADF) materials for next-generation OLED displays. TADF materials will radically improve the efficiency of blue emitters, which are currently the performance-limiting components of the OLED device. Boosting the efficiency of blue emitters is a top priority for display manufacturers. Not only can ultra-high-efficiency blue emitters slash power consumption by up to 50 percent, they can also reduce the manufacturing costs. CYNORA’s proprietary TADF blue emitter solution, now nearing commercialization, has the proven capability to enable low-power advantages, with performance metrics that lead the industry.
New Leadership to Accelerate Growth
Kablanian, a multi-time technology company CEO, will lead CYNORA from the company’s HQ in Germany. Throughout his career, he has built several successful global companies around disruptive science-based technologies, creating value for customers and shareholders. With Virage Logic, he took a pioneering semiconductor memory design IP solution to the global market, breaching commercialization barriers and enabling marquee customers with a differentiated embedded memory technology.
As CEO of PlasmaSi, Kablanian entered the OLED industry as the new display technology seized the lead over LCDs as the preferred choice for smartphones. Today, the trajectory for OLEDs continues. Display Supply Chain Consultants (DSCC) predicts that the market for OLED displays will nearly double in size over the next four years, soaring from US$28.7B this year to US$52B in 2023. Beyond offering spectacular pixel quality on smartphone displays and TVs, OLED technology also enables radical new form factors, like foldable and roll-able devices. CYNORA’s technology is an essential contributor to the sustained innovation.
Kablanian holds a B.A. in Physics from the University of California at Berkeley and an M.S. in Electrical Engineering from Santa Clara University in California.
“We’re pleased to welcome the new investors to CYNORA. As a longtime investor, we have watched the company become a valued OLED industry player under Gildas’ stewardship. We appreciate his commitment to CYNORA’s success. We are fortunate to attract an executive of Adam’s caliber to lead CYNORA. He brings significant expertise in productizing complex technologies and growing international startups with an emphasis on partnering and customer relationships. We look forward to working with him and the executive team to continue the exceptional progress of this venture.” ~ Kristian Schmidt-Garve, Partner, MIG Funds & Chairman, CYNORA
“SRF selected CYNORA to make its first investment in the display industry. Displays are the interface between consumers and information so there’s relentless innovation to improve the viewer experience and drive penetration into new applications. OLED is the future of display technology. It can radically reduce power consumption and give shape to flexible, foldable and even roll-able devices. Our investment focus is on critical technologies that enable this ecosystem. That’s why we’re delighted to support the CYNORA team.” ~ Dan Rubin, Partner, SRF Partners Fund LLC
“Helping emerging technology companies become market leaders is my passion and my forte. And when the technology promises meaningful innovation for an industry as large as information displays, it’s especially exciting. That’s what drew me to CYNORA. There’s work to do to fulfill customers’ demanding specs for their next-generation OLED displays. But our roadmap is aggressive, our talent is strong, and our financials are solid. I’m grateful for the opportunity to lead this next phase of CYNORA’s growth.” ~ Adam Kablanian, CEO, CYNORA
At Display Week in San Jose, Calif., CYNORA executives will present the latest developments on its TADF technology in three talks at the conference. Hosted by the Society for Information Display, the conference is the premier gathering of executives from the global display ecosystem.
CYNORA is an emerging materials leader in the global information display industry. The company has pioneered a unique technology to produce ultra-high-efficiency emitter systems required for next-generation Organic Light Emitting Diode (OLED) displays. Known as Thermally Activated Delayed Fluorescence (TADF), the technology promises to reduce power consumption by as much as 50 percent. Founded in 2008 and headquartered in Bruchsal, Germany, CYNORA is privately held and supported by a syndicate of global investors. www.cynora.com
m: +49 7251 919 670
m: +1 408-489-6391
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wipro Appoints Thierry Delaporte as CEO & Managing Director29.5.2020 07:21:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the appointment of Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6, 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005916/en/ Thierry Delaporte (Photo: Business Wire) Until recently, Thierry Delaporte was the Chief Operating Officer of Capgemini Group and a member of its Group Executive Board. During his twenty-five year career with Capgemini, he held several leadership roles including that of Chief Executive Officer of the Global Financial Services Strategic Business Unit, and head of all global service lines. He also oversaw Capgemini’s India operations, and led the group’s transformation agenda, conceptualizing and driving several strategic programs across various business units. “I am delighted to
Ipsen Appoints David Loew as Chief Executive Officer29.5.2020 07:05:00 CEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005876/en/ David Loew, CEO at Ipsen as of July 1st 2020 (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) announced today that its Board of Directors has appointed David Loew as its new Chief Executive Officer (CEO) and as Board member. The CEO appointment will take effect on July 1st, 2020. The Board of Directors expresses its gratitude to Aymeric Le Chatelier, who steered the group very well in an exceptionally challenging environment and who will remain in the role of acting CEO until July 1st, 2020 and will continue in his role of Chief Financial Officer. David Loew will be based at Ipsen’s headquarters in Boulogne-Billancourt, France. His mission will be to ensure Ipsen’s continued growth and to advance its pipeline via a long-term value-adding external innovation strategy, while fostering a culture of entrepreneurship, agility and patient-cent
New data show first-line triplet regimen of pembrolizumab, Herzuma ® (biosimilar trastuzumab) and chemotherapy are effective in treatment of HER2-positive advanced gastric cancer29.5.2020 01:01:00 CEST | Press release
Data presented today as part of the ASCO20 Virtual Scientific Program show that a first-line triplet regimen comprising of pembrolizumab, Herzuma®(biosimilar trastuzumab) and chemotherapy is effective in patients with HER2-positive advanced gastric cancer (AGC). The PANTHERA trial (a phase Ib/II study of first line pembrolizumab in combination with trastuzumab, capecitabine, and cisplatin in HER2-positive gastric cancer), sponsored by Celltrion Inc. and MSD, is investigating the potential of a first-line immunotherapy/chemotherapy combination with biosimilar trastuzumab. This is in light of a growing body of evidence that the immune system contributes to the therapeutic effects of monoclonal antibodies such as biosimilar trastuzumab in treating solid tumours.1 A total of 43 patients were treated with a median follow up of 18 months. Patients were treated with pembrolizumab 200mg via IV infusion D1,biosimilar trastuzumab 6mg/kg (after 8mg/kg load) D1, capecitabine 1000mg/m2 bid D1-D14 a
European Commission Releases Takeda From Commitment to Divest Shire’s Pipeline Compound SHP64729.5.2020 01:00:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TOKYO:4502) (NYSE:TAK) (“Takeda”) today announces that on May 28, the European Commission (the “EC”) has released Takeda from the obligation to divest the pipeline compound SHP647 and certain associated rights (“SHP647”), a commitment that was provided by Takeda to secure regulatory clearance of its acquisition of Shire plc (“Shire”). Takeda will discontinue the current SHP647 clinical trial program, and it will be providing all eligible trial participants with the opportunity to have continued access to SHP647 in a post-trial access (“PTA”) study. In addition, subject to obtaining trial participant consents and the satisfaction of regulatory and ethical considerations, Takeda will make SHP647 clinical trial data and biosamples available to the scientific community through the Crohn’s & Colitis Foundation (“Foundation”). Takeda announced on November 20, 2018, that the EC approved its proposed acquisition of Shire (the “Acquisition”). The EC’s appr
Jefferies' Clients, Employees and Shareholders Contribute $9,250,000 to Over 85 Charities for Coronavirus Relief in Memory of Peg Broadbent28.5.2020 18:02:00 CEST | Press release
Jefferies announced today a total donation to over 85 different charities of $9.25 million as a result of a firmwide global effort to raise money to honor the memory of their late CFO Peg Broadbent, who was a victim of this terrible disease. Through the firm’s Global Coronavirus Relief Charity Day held May 27th, Jefferies’ clients helped to generate $7.65 million in donated net trading commissions. In addition, Jefferies as a firm will donate $1 million directly, and voluntary donations from Jefferies’ 3,822 employees totaled $600,000. “We could not be prouder of our entire Jefferies family for raising $9.25 million and are greatly appreciative of the incredible partnership our clients have shown us in supporting our fight against Covid-19. The full $9.25 million will be wired today and go to direct relief efforts at over 85 worthy global charities who are each in the front lines helping those most impacted by the Coronavirus global pandemic. We went broadly to a large number of charit
JRJ Group Announces Sale of ETX Capital to Guru Capital28.5.2020 15:30:00 CEST | Press release
JRJ Group, a leading international private equity investment firm focused on the financial services sector and growth situations, is pleased to announce that it has agreed to terms for the sale of ETX Capital, one of the fastest growing international providers of multi-asset CFDs and spread betting products, to a fund associated with Guru Capital, a Switzerland-based private equity firm with specific experience in the CFD space. Terms of the transaction were not disclosed. Roger Nagioff, Founding Partner of JRJ Group, said, “During JRJ’s ownership, we have invested in bolt-on acquisitions and enhanced the technology of the firm. We are delighted with the strength and resilience of the platform we have built, alongside the management team and employees, and we wish the enterprise every success in its next stage of growth.” “We are grateful of JRJ Group’s support, and we look forward to growing the business with the Guru Capital team, who have substantial experience in the CFD sector,” s