Calcivis, an Edinburgh-based medical devices business has raised £3.15 million in new funding. The funding round from existing backers Archangels, the Scottish Investment Bank and healthcare investment group Julz, will be used to market its products in the UK and take it into the US market, which is the world's biggest.
This funding round will enable Calcivis to generate significant shareholder value by gaining FDA approval for its unique Calcivis Imaging System paving the way for the product US launch in 2019.Dr Sarah Hardy, chief investment officer, Archangels
Calcivis has asked the US Food and Drink Administration to approve its tooth decay imaging technology. The technology enables preventative dentistry, allowing dentists to locate where tooth decay is likely to occur.
Adam Christie, chief executive of Calcivis, said: “We are delighted by the continuing commitment of our investors in the financing round. This new investment positions us to to gain pre-market approval for our Calcivis Imaging System in the US ahead of a launch planned for the second half of 2019."
“We also plan to use the funds to drive sales and optimise the commercial model for the system in the UK where it has received a positive reception from both dentists and patients since its first launch earlier this year.”
Dr Sarah Hardy, chief investment officer at Archangels, said: “This funding round will enable Calcivis to generate significant shareholder value by gaining FDA approval for its unique Calcivis Imaging System paving the way for the product US launch in 2019.
“We believe the system will bring significant benefits both to patients and dental practitioners by catalysing the adoption of preventive dentistry.”
Dr Zishan Haroon, chairman and general partner of Julz, said: “The Calcivis Imaging System is a breakthrough innovation in an industry that has for long been using visual inspection and X-ray images as the main detection and diagnostic aids for caries...