Edinburgh-based Calcivis has secured £5 million in funding to roll out its dental technology for the early detection of tooth decay.
The investment round was led by £4m in funding from the Scottish National Investment Bank along with £1m from IFS Maven Equity Finance, which is managed by Maven Capital Partners. Calcivis will use the funds to bring its flagship product to market in the US following premarket approval from the Food and Drug Administration (FDA).
Co-founded in 2012 by chief executive Adam Christie and chief technology officer Bruce Vernon, the firm’s imaging system uses a biologic diagnostic to allow for preventative treatment before tooth decay becomes irreversible. Following its introduction into the US, Calcivis is targeting a subsequent launch in the UK and other European markets.
READ MORE: Scottish dental pioneer Calcivis eyes US growth after FDA approval
“Early diagnosis and treatment of tooth decay is essential, allowing patients to reverse the damage to their teeth before it is too late," Mr Christie said. "This investment will enable us to launch our innovative product to global markets – first in the US and eventually in the UK – leading to faster diagnoses and early intervention treatments.
“This technology has the potential to revolutionise prevention in oral health care, with cavities impacting more than two billion people globally, according to the World Health Organisation. We look forward to seeing where this product can go with the support of both the Scottish National Investment Bank, and the Investment Fund for Scotland, through Maven.”
Paul Callaghan, investment director at Scottish National Investment Bank, added: “Calcivis is a shining example of how Scotland is leading the way in developing cutting-edge technology that improves our health and wellbeing. We are proud to help the company scale-up and enable its flagship product to reach international markets, creating jobs in Scotland.
“As a development investment bank, we see Calcivis’ technology as fully aligned with our Innovation mission, and the product’s launch in the UK has the potential to deliver substantial health benefits to people in Scotland.”
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