Archives May 2026

Business Wire India

 

Company positioned for long-term growth, operational excellence, and continued customer-focused innovation

 

Will emerge from financial restructuring with enhanced financial flexibility and significantly less debt

 

New ownership and Board of Directors committed to executing on vision to take the business to the next level

 

Bruce Rubin appointed Executive Chairman and Dean Williams appointed Interim Chief Executive Officer

 

The LYCRA Company, LLC (“the Company”), a global leader in developing fiber and technology solutions for the apparel and personal care industries, will successfully complete its comprehensive financial restructuring process and emerge from Chapter 11 protection on May 20, 2026.

 

The LYCRA Company has established a durable capital structure that will enable the Company’s pursuit of its growth strategy through investment in innovation, customer partnerships, and global operations. The Company will emerge from its comprehensive restructuring process with significantly enhanced financial flexibility and a strengthened balance sheet to support long-term growth. The Company will have reduced its total long-term debt by more than $1.2 billion and will obtain more than $75 million in new money investment. Throughout the process, the Company has maintained uninterrupted operations and continues to deliver on commitments to its employees, customers, and vendors.

 

 

The LYCRA Company will be supported by new equity owners. The new owners are investment funds with a global presence that have been long-term investors in the Company’s securities. Collectively, they bring deep experience and commitment to the Company, its products, and its brands, and are committed to building on the positive momentum of the restructuring process by investing in the Company’s future success.

 

 

Dean Williams, the Company’s Chief Financial Officer, has been appointed interim Chief Executive Officer. Mr. Williams will serve in an interim capacity while a search is conducted for a permanent CEO. Mr. Williams has been with the Company since its formation over seven years ago and has extensive experience in financial leadership, strategic planning, and operational management, positioning him very well to guide The LYCRA Company through this next phase. Gary Smith, the Company’s former Chief Executive Officer, has stepped down and separated from the Company.

 

 

The Company has also appointed a new Board of Directors, with Bruce Rubin, an experienced energy and chemicals executive with over 45 years of leadership experience, serving as Executive Chairman of the Board. Mr. Rubin stated, “With a strong foundation in place, The LYCRA Company will be well-positioned to enhance operational excellence, accelerate innovation, deepen customer partnerships, and reinvest in our high-quality products. We look forward to growing our distinct and trusted brands into the future. We would like to thank Gary and the departing Board for their steady leadership in guiding the Company through this pivotal period. The Board looks forward to working closely with Dean – an exceptional and trusted operational leader – as we position the Company for success.”

 

 

The rest of The LYCRA Company’s executive leadership team remains in place and will continue to partner closely with Dean and other key stakeholders to accelerate the Company’s path forward.

 

 

“Emergence marks a defining moment for The LYCRA Company,” said Dean Williams, Interim Chief Executive Officer. “We will now be a financially stronger, more focused organization that is positioned for growth. This milestone would not have been possible without our team members, whose resilience, dedication, and commitment to our customers enabled us to navigate this process without disruption. While we still have work to do to reach our full potential, we have never been better positioned to do so.”

 

 

The LYCRA Company is advised in this matter by Linklaters LLP and Haynes Boone, LLP as legal counsel, Houlihan Lokey as investment banker, and FTI Consulting as financial and communications advisor.

 

 

About The LYCRA Company

 

 

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries and owns the leading consumer brands: LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX® and TACTEL®. Headquartered in Wilmington, Delaware, U.S., The LYCRA Company is recognized worldwide for its sustainable products, technical expertise, and marketing support. The LYCRA Company focuses on adding value to its customers’ products by developing unique innovations designed to meet the consumer’s need for comfort and lasting performance. Learn more at thelycracompany.com.

 

 

LYCRA® is a trademark of The LYCRA Company.

 

 

Forward-Looking Statements

 

 

This press release contains statements that are not historical information and are “forward-looking statements.” Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. Statements can generally be identified as forward looking because they include words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “will,” “estimates,” “potential,” “target,” “predict,” “project,” “seek,” and variations thereof or “could,” “should” or words of similar meaning. Statements that describe the Company’s future plans, objectives or goals are also forward-looking statements, which reflect the current views of the Company with respect to future events and are subject to assumptions, risks and uncertainties that could cause actual results to differ materially. Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, the economy, its knowledge of its business, and key performance indicators that impact the Company, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements.

 

 

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to update these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260518617195/en/

 

Business Wire India

 

• Ustekinumab BS 45 mg Syringe for S.C. Injection「NIPRO」 is now available in Japan, after its listing under the National Health Insurance (NHI) Drug Price Standard
• Marks first launch in Japan through partnership with NIPRO CORPORATION
• Samsung Bioepis continues to expand its global presence, widening access to life-enhancing treatments for patients with chronic autoimmune conditions

 

Samsung Bioepis Co., Ltd. today announced the launch of Ustekinumab BS 45 mg Syringe for S.C. Injection「NIPRO」, a biosimilar referencing Stelara¹ (ustekinumab), marking its first product launch in Japan under partnership with NIPRO CORPORATION (hereafter “NIPRO”). The launch follows the Official Gazette announcement on May 19 regarding the product’s listing under the National Health Insurance (NHI) Drug Price Standard, which became effective today.

 

“We are thrilled to announce the launch of our first biosimilar product in Japan in partnership with NIPRO,” said Jinhan Chung, Vice President and Head of Commercial Strategy for International Markets, at Samsung Bioepis. “Together with our partner NIPRO, we look forward to supporting patients living with autoimmune diseases and contributing to the sustainability of Japan’s healthcare system by providing quality-assured, safe and effective biosimilar options.”

 

 

Ustekinumab is a human immunoglobulin G1 kappa (IgG1κ) monoclonal antibody that prevents abnormal regulation of IL-12 and IL-23 associated with immune-mediated diseases. Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) has granted marketing authorization to Ustekinumab BS 45 mg Syringe for S.C. Injection「NIPRO」 for the treatment of plaque psoriasis and psoriatic arthritis in December 2025.²

 

 

Samsung Bioepis announced a strategic partnership with NIPRO for the development and commercialization of multiple biosimilar candidates in Japan, including ustekinumab, in June 2025.

 

 

Samsung Bioepis’s ustekinumab biosimilar is also available under different brand names across the European Union (EU), Korea, the United Kingdom (UK), and the United States (US).³

 

 

About Samsung Bioepis Co., Ltd.

 

 

Established in 2012, Samsung Bioepis is a biopharmaceutical company committed to realizing healthcare that is accessible to everyone. Through innovations in product development and a firm commitment to quality, Samsung Bioepis aims to become the world’s leading biopharmaceutical company. Samsung Bioepis continues to advance a broad pipeline of biologic candidates that cover a spectrum of therapeutic areas, including immunology, oncology, ophthalmology, hematology, nephrology, neurology, and endocrinology. For more information, please visit www.samsungbioepis.com and follow us on social media – X, LinkedIn.

 

 

1 Stelara is a trademark of Johnson & Johnson.
2 Ustekinumab BS 45 mg Syringe for S.C. Injection「NIPRO」 is not indicated for the treatment of Crohn’s disease or ulcerative colitis.
3 Samsung Bioepis’s ustekinumab biosimilar is available under the brand name PYZCHIVA™ in the EU, the UK, and the US. In Korea, it is available under the brand name EPYZTEK™.

 

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260519144753/en/

 

Business Wire India

Global Millennial Capital Ltd. (“GMCL”) today announced the final closing of its inaugural IPO Opportunities Fund at USD 100 million. Raised through a private placement with institutional and professional investors, the fund targets late-stage and special opportunities investments across mid-cap technology companies operating in high-growth sectors, including artificial intelligence, decentralized finance infrastructure, cybersecurity, digital infrastructure, enterprise software, and climate technologies.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519513523/en/

 

 

 

The fund is designed to capitalize on the increasing number of technology companies achieving meaningful scale while remaining private for longer periods prior to liquidity events. GMCL’s investment strategy focuses on identifying companies at critical inflection points in their growth trajectories, providing investors with exposure to differentiated mid-cap opportunities often underserved by traditional large-cap capital allocators.

 

According to Andreea Danila, Head of Investment and Research at Global Millennial Capital, structural shifts across artificial intelligence, digital infrastructure, cybersecurity, enterprise software, and climate-focused technologies continue to create compelling opportunities within the global mid-cap technology segment. These sectors are increasingly driving the next phase of AI-led industrial transformation and global capital market modernization.

 

 

In addition to IPO-focused investments, the fund pursues a broader special opportunities strategy targeting companies requiring flexible growth capital, strategic liquidity solutions, or transaction support during key stages of expansion and value creation. Investment opportunities include pre-IPO placements, secondary transactions, restructuring situations, complex M&A transactions, and tailored mezzanine financings, with an emphasis on disciplined structuring, governance alignment, and long-term strategic execution.

 

 

GMCL believes decentralized financial infrastructure is becoming an increasingly important component of the modernization of global financial systems. Regulatory developments and institutional adoption trends continue to accelerate integration between traditional financial services and digitally enabled infrastructure, particularly across payments, treasury operations, settlement efficiency, and capital markets accessibility.

 

 

Investors in the fund include family offices and institutional investors from the Gulf region, alongside existing GMCL investors and international wealth management partners.

 

 

Important Notice: This announcement is provided for informational purposes only and does not constitute an offer or solicitation to invest in any securities or financial products. Please refer to Global Millennial Capital’s LinkedIn page and website for full disclaimers and regulatory disclosures.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260519513523/en/

 

Business Wire India

• India must change how steel is produced if it’s to meet growth and climate targets simultaneously
• Industry emissions well above global average, threatening India’s ambition to become green steel leader
• Transition Report Cards reveal mixed picture at India’s largest steel companies, with Tata Steel and Jindal Stainless leading progress
• India green steel transition moving beyond target-setting and into a contest over bankable delivery

 

India cannot build its next phase of economic growth without steel. But it cannot achieve that growth and meet its long-term climate goals unless it changes how that steel is produced.

 

India has an ambitious target to boost crude steel capacity by almost 70% from 2023 figures to 300 million tonnes by 2030-31, requiring about USD105.5 billion in investment.

 

This poses a challenge for a nation that’s committed to reaching its climate goals. Currently, India’s steel production emissions are about 28% higher than the global industry average. If the country is to achieve its aim of becoming a global leader in green steel production and consumption, steel producers must move beyond ambition and target-setting and into an era of accountability and validation.

Without decisive and rapid action, the industry risks locking in high emissions for decades to come. The latest report from Asia Research & Engagement (ARE) – Forging Ahead: Pathways to Green Steel for India – outlines roadmaps for companies to achieve those goals, and measures progress by four of the country’s largest producers: Tata Steel, JSW Steel, Jindal Steel, and Jindal Stainless.

 

Diverging strategies across major steelmakers

ARE’s analysis reveals a significant gap between companies that are advancing clear decarbonisation strategies and those still primarily expanding conventional capacity.

 

Among integrated producers, Tata Steel shows the most developed transition pathway, with visible progress in electric arc furnace (EAF) deployment, hydrogen pilots, and emissions disclosure. By contrast, peers remain earlier in the shift, with capital expenditure still largely tied to blast furnace-based expansion.
 

Jindal Stainless stands apart structurally, benefitting from a scrap and EAF-based production model that enables more immediate emissions reductions, though this reflects in-built differences in the product mix rather than a like-for-like transition across the sector.
 

“Some companies are beginning to articulate credible route-shift strategies and invest in enabling systems like clean power and scrap, while others remain more heavily anchored to conventional expansion,” said Arun Kumar, Strategic Advisor – Power Markets & Technology Innovation, at ARE.
 

“The next phase of the steel transition will not be determined by long-term net-zero targets but by whether companies can deliver bankable, plant-level pathways that reduce emissions intensity while scaling production,” Arun Kumar added.

These pathways include:

 

• Clear production route choices
• Capital allocation aligned with lower-emissions production
• Time-bound implementation milestones
• Robust measurement, reporting and verification systems capable of meeting regulatory and market requirements

From ambition to execution

The industry is already being reshaped by tightening domestic policy frameworks and global dynamics. The introduction of India’s Green Steel Taxonomy creates a measurable benchmark for emissions performance and provides a clear distinction between credible green production and vague sustainability claims.

 

In parallel, the European Union’s Carbon Border Adjustment Mechanism (CBAM) is making emissions data a commercial requirement for exporters, increasing demand for plant-level, verifiable carbon accounting across supply chains.

 

For policymakers, the next step is to build demand through procurement standards and certification frameworks. For buyers, particularly in infrastructure and public projects, early signals can play a key role in scaling lower-emission steel production.

 

“India’s steel transition is crystallising into a contest over bankable delivery, and credible execution will determine which companies emerge as leaders and those that fail to adapt,” Kumar said. 

 
For deeper analysis and complete assessment, download the complete report HERE.

 

Business Wire India

Miro®, the AI Innovation Workspace for teams, has announced new innovations across its AI platform, reinforcing its position as the collaboration layer where people, context, and agents from every function converge to solve hard problems, make better decisions, and build the right thing faster. Major upgrades to Miro’s agentic AI tools — including Sidekicks and Flows — alongside new Connectors, help customers close the gap between individual AI productivity and organization-wide transformation.

 

AI is reshaping the pace of work, but often teams are not realising the benefits. In many organizations, a gap has emerged between what individuals can now do and what companies can harness. The reason? Collaboration has fractured. Teams have moved from one mode of working to three — human to human, human to agent, and agent to agent — but these are running in silos, invisible to each other. Within those silos, AI amplifies misalignment rather than correcting it, and the gaps only show up when the work comes together.

 

 

Miro’s vision to bridge this gap is clear: Organizations need a shared space for teams to collaborate around agentic output and move work forward. Miro is unifying all collaboration modes on one surface — the canvas. That includes continuing to invest in the human-to-human collaboration that remains the foundation of great work, because trust, judgment, and shared understanding between people are what drive real progress and breakthrough innovation.

 

 

“AI leverage is locked inside private chat windows — accelerating individuals, but never reaching the organization,” said Andrey Khusid, CEO and Founder at Miro. “When every collaboration mode converges on one surface, individual speed becomes company speed, and individual clarity becomes shared clarity. A collection of 10x people pulling in different directions transforms to become a 10x company pulling in the same direction. Every organization will need to make that shift to stay competitive. That’s the outcome we’re building toward.”

 

 

“AI is more powerful when it supports and augments teamwork,” said Wayne Kurtzman, Research Vice President, Collaboration and Communities, at IDC. “Leaders must seek out the tools and technologies that enhance their teams’ creativity, agility, and innovation. As work becomes more agentic, AI’s ability to connect to work, alongside teams, becomes critical to tackling bigger challenges.”

 

 

“Accelerating work with AI in a silo creates speed without direction – and that’s a problem,” said Matt Cloke, at CTO Endava. “What Miro brought to life for me was the importance of keeping context on the canvas, where everyone can see and build on it. People think about context as static things — documents, images — but everything can be visual context: a sticky note, a table, a workflow, even a pop-up interaction. Having that context accessible and connected is what makes AI powerful. How you parse it through and onwards to other elements of AI — that’s where the real value is.”

 

 

Key updates to the Miro AI platform announced today include:

 

 

Teams can work with agents on the canvas

 

 

• Agents are becoming a core part of how work gets done, but they’ve had no way to participate in the shared canvas where teams think, plan, and align. That leaves them working around a process rather than inside it. Miro’s canvas is now AI-readable and writeable by third-party agents, with:
  • Expanded MCP support spanning tool and board creation, frames, comments, shapes, and code blocks.
  • New agent-friendly formats: Mermaid diagrams, Markdown, and HTML widgets so agents can contribute to the canvas in a language they speak natively.
  • Connectors link Miro’s Sidekicks and Flows to the tools teams already use, with Connectors for Slack, Atlassian, Granola, GitHub, and more.
  • Most decisions are made in Miro. Now they travel further. Connectors read from and write back to the systems where work executes — no lost context, no recreated effort, no broken chain from insight to action.
  • Miro as a native connector within ChatGPT, Claude, and Microsoft Copilot, so that work happening between individuals and AI tools can surface on a shared canvas where the whole team can see, react, and build on it together.

 

Sidekicks evolves from AI assistant into agentic thought partner

 

• Most AI tools are reactive. They respond to a prompt, return an answer, and stop. That works fine for simple tasks — but the complex, ambiguous, evolving work that actually slows teams down doesn’t fit neatly into a single instruction. Sidekicks is evolving into a truly agentic thought partner: one that understands what you’re trying to achieve and knows how to solve it.
  • Tackle complex work: Describe your goal in your own words. Sidekicks now understand intent, break ambiguous problems into solvable steps, and ask intelligent clarifying questions.
  • Canvas generation: Sidekicks and Flows can now generate full board content from a single prompt, including documents, diagrams, Kanbans, sticky notes, and frames, so teams arrive at a meaningful collaborative starting point in minutes instead of hours.
  • Context and Memory: Miro builds a persistent understanding of how you work, what you’re focused on, and what’s already in motion — pulling in the right context automatically and picking up where you left off.
  • Voice: Interact with Sidekicks in two-way voice chat. Speak naturally, change direction, and let ideas flow without crafting the perfect prompt.

 

Flows can connect systems for repeatable work

 

• Every team has recurring work — standups, sprint reviews, kickoffs — but no shared place to run it. Instead, someone manually pulls data, updates tools, and chases approvals every single time.
  • Flows now extend beyond the canvas through Connectors, enabling automated workflows that call tools both inside Miro and across connected systems, including pulling in meeting transcripts, creating tasks in project trackers, and surfacing the latest Kanban views, combined with human-in-the-loop approval steps, make Flows the shared infrastructure for how teams run their repeatable work together.

 

Achieve better alignment and build the right thing with Miro Prototypes

 

• The gap between an idea and something the whole team can react to is where projects go wrong — decisions made too late, with too much already built to change course. Updates to Miro Prototypes turn the context a team already has into real options everyone can react to, and align in the right direction.
  • Code to Prototype: Miro Prototypes now pulls context from Claude Code and other tools directly onto the canvas, so existing work becomes the starting point for team alignment and decisions.
  • Evolve design: Evolve existing product designs into fully connected, editable multi-screen flows by importing screenshots or Figma files and iterating with AI – all without starting from scratch.
  • Style prototypes: Instantly apply a brand’s look and feel to AI-generated prototypes by extracting a theme from a URL or selecting from Brand Center, so designs are on-brand from the very first generation.
  • Variants: Generate multiple prototype variants at once so your team can compare directions and make more informed decisions.
  • Seamless handoff: Export your finalized prototype directly to your coding agent or Figma, preserving all context for a seamless handoff from idea to build.

 

Miro Canvas 26

 

Miro presented its latest updates to attendees at Canvas 26, its annual flagship customer event, in San Francisco. The event included guest speakers, including Tomer Cohen, former CPO at LinkedIn and Joe Dunleavy, Regional CTO for Europe and Global Head of Dava.X AI group at Endava, as well as customer showcases from Austin Lin, VP of Product Management at Cisco and Amanda Kane, SVP Product Operations, and Tracy Love, SVP Enterprise Technology Solutions at J.Crew.

 

 

Miro is proud to collaborate with its official partners and sponsors at Canvas 26: Voltage Control, Asana, Bolt, Atlas Bench, AWS, and OpenAI.

 

 

About Miro

 

 

Miro is the AI Innovation Workspace that brings teams and AI together to plan, co-create, and build the next big thing, faster. Serving more than 100 million users across 250,000 customers, Miro empowers cross-functional teams to flow from early discovery through final delivery on a shared, AI-first canvas. With the canvas as the prompt, Miro’s collaborative AI Workflows keeps teams in the flow of work, scales shifts in ways of working, and drives organization-wide transformation. Founded in 2011, Miro currently employs more than 1,600 people in 14 hubs around the world. To learn more, visit https://miro.com.

 

 

Miro and the Miro logo are trademarks or registered trademarks of RealtimeBoard, Inc., in the United States and/or other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260519060858/en/