EDINBURGH, June 24, 2015 /PRNewswire/ --
Calcivis, a medical devices company focused on revolutionising the management of tooth decay and enabling preventive dentistry, today announces it has secured £4.5m in new equity and grant funding.
Existing funders, Archangel Investors and the Scottish Investment Bank, have invested a further £2.6m in the Company. Calcivis has also secured €2.6m (£1.9m) in grant funding from the European Commission under its Horizon 2020 SME Instrument programme.
The new funding will be used to further prepare the Calcivis® Caries Activity Imaging System for commercialisation. The device has a CE Mark in Europe and Calcivis recently reported that a first clinical study met its primary performance endpoint relating to the System's ability to identify early active caries lesions. An excellent safety profile was also observed.
Calcivis is undertaking further work to prepare for commercialisation in Europe and to gain approval to market the product in the US.
Adam Christie, CEO of Calcivis, said: "This substantial new investment and grant funding 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."
Andy Laing of Archangel Investors said: "Calcivis has made significant progress in recent years and this, and the evident potential of the technology, has given us great confidence to make a further investment in the Company. Tooth decay is a significant clinical and public health problem and Calcivis has the potential to make a real impact on treatment and dental practice."
Kerry Sharp, head of the Scottish Investment Bank, said: "Calcivis is an innovative, forward-thinking business that is addressing a significant clinical and public health issue, at the heart of modern dentistry. Along with our partners, we've worked closely with the company over the last three years to provide an integrated package of support that includes investment from the Scottish Co-Investment Fund and innovation support. Our Enterprise Europe Network team also helped the company successfully apply for help via the SME Instrument programme. We look forward to continuing to work with the company to help realise its ambitious growth plans."
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 chemiluminescent 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.
The resulting images provide a focus for discussion with patients about their caries management programme and the development of a tailored, evidence-based treatment in line with best preventive dental practice.
Calcivis is an innovative medical devices company focused on revolutionising the management of dental caries or 'tooth decay'. Based in Edinburgh, Scotland, Calcivis brings together novel biotechnology approaches and world-class device development expertise and is at the forefront of applying biotechnology to dentistry.
The Calcivis® Caries Activity Imaging System will, for the first time, allow the real-time detection and visualisation of calcium ions released by demineralising caries lesions in routine dental practice.
Calcivis was established in 2011 and is substantially funded by Archangel Investors Limited and the Scottish Investment Bank, the investment arm of Scottish Enterprise. http://www.calcivis.com
Scottish Investment Bank (SIB) is the investment arm of Scotland's main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co- investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF). SIB also manages the Renewable Energy Investment Fund and the Scottish Recycling Fund. SIB is the cornerstone investor in the privately-managed Scottish Loan Fund, managed by Maven Capital Partners and an investor in Epidarex Capital's life sciences fund. Our investment funds support Scotland's SME funding market to ensure businesses with growth and export potential have adequate access to growth capital. We also provide a team of financial readiness specialists to help companies prepare for new investment and access appropriate finance.
About Horizon 2020 SME Instrument:
Details of the Horizon 2020 SME Instrument programme can be found at:
Adam Christie, CEO
David Dible, Citigate Dewe Rogerson