A Manchester-based developer of materials for flexible electronics has undergone a reverse acquisition and raised听拢17.6 million.听
SmartKe尘鈥檚听deal with听Parasol Investments, a publicly听owned听corporation听based in Delaware,听sees听the North West firm听become a wholly owned subsidiary of Parasol, with听Parasol changing听its name to听SmartKem听Inc.听
SmartKe尘鈥檚听Ian Jenks becomes CEO of the company with fellow director听Robert Bahns named CFO.听听
Other听SmartKem听directors听Dr.听Simon King, Klaas de Boer and Barbra Keck have become the directors of听the听company.听听
鈥淭he success of this financing surpassed our expectations, and we believe demonstrates investor confidence in听SmartKem, our technology, product, current customer traction and the market opportunity,鈥� said Jenks.听听
鈥�This financing will allow us to continue to scale production of our听truFLEX听inks, our听electrical听design听automation听tools and expand our听foundry听s别谤惫颈肠别蝉.鈥�听
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The听truFLEX听technology deposits organic ink on a substrate at a temperature as low as 80掳C, enabling manufacturers to use a range of low-cost flexible plastic substrates using existing industry standard equipment and infrastructure.听听
SmartKem听says its听transistor stacks are flexible, bendable, wearable and lightweight and can be used in听a number of听different applications, including bendable smart-phone displays, foldable laptops, TV backlights, curved automotive displays,听color听ePaper听displays, wearables, fingerprint and X-ray detectors as well as printed biosensors.听
Manufacturing