Calcivis, a medical devices company focused on revolutionising the management of tooth decay and enabling preventive dentistry, has announced it has secured £4.5m in new equity and grant funding.
Calcivis has secured 2.6m Euros (£1.9m) in grant funding from the European Commission under it's Horizon 2020 SME instrument programme, with existing funders Archangel Investors and the Scottish Investment Bank investing a further £2.6m in the company.
The new funding will be used to further prepare the Calcivis Caries Activity Imaging System for commercialistaion. The device has a CE Mark in Europe and Calcivis recently reported that a first clinical study met it's primary performance endpoint relating to the System's ability to identify early active caries lesions. An excellent safety profile was observed.
Adam Christie, CEO of Calcivis, said: "This substantial new investment puts the company in a very strong position as we continue to work towards commercialisation. The insight we gained from our successful clinical study has allowed us to refine the device ahead of a controlled market introduction in Europe, starting in the UK in late 2016. The new funds will also support us in our regulatory work in the US, the world's largest dentistry market, where we see huge potential for the Calcivis System."
Horizon 2020 funds high impact innovation through a dedicated SMEinstrument which offers commercialisation support for high growth SMEs with global ambitions, and includes funding for disruptive innovation projects across a variety of sectors. Enterprise Europe Network Scotland team works with Scottish companies to help them access this new funding stream, and supports Scottish beneficiaries, including Calcivis to make use of the business coaching support that is offered along with the grant.
The Calcivis Caries Activity Imaging System is an in-clinic device which combines a sensitive intraoral camera and application technology to deliver a precise amount of proprietary disclosing solution, containing a photoprotein, onto the tooth surface.
The photoprotein binds calcium ions and emits a blue light signal proportional to the amount of calcium present. This exquisitely sensitive chemilluminescent system produces a 'demineralisation' map of the tooth enabling caries lesion activity assessment at a single patient visit and providing insight into other conditions including acid erosion.
39 days ago - Funding competition Eureka Eurostars 2: round 11
67 days ago - Who saves Christmas every year? We do!