EDINBURGH, Scotland, May 1, 2014 /PRNewswire/ --
Technology Strategy Board Biomedical Catalyst Award to Drive Development of Novel System to Assess and Manage Tooth Decay (Dental Caries)
Calcivis, a medical devices company focused on revolutionising the management of tooth decay, today announces that it has received a prestigious Biomedical Catalyst award co-funding a £0.5m development programme and raised a further £0.8m in equity funding from existing investors Archangel Informal Investment and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
The Biomedical Catalyst award will be directed to the further development of the Calcivis® Caries Activity Imaging System, a sophisticated medical device and consumable combination designed to transform the assessment and management of dental caries (tooth decay). It involves a unique, proprietary bioluminescence approach combined with a specialised imaging device which allows accurate detection and visualisation of demineralisation by imaging free calcium ions at the tooth surface; a caries lesion which is actively demineralising is more likely to progress and lead to cavitation. Calcivis® Caries Activity Imaging System was recently granted a CE Mark.
Adam Christie, CEO of Calcivis, said: "We are very pleased to announce this award from the Biomedical Catalyst and further investment from Archangels. Together the new funds will allow us to accelerate the development of the Calcivis System and our progress towards full commercialisation.
"We believe our system has a role to play in tailored, rational evidence-based management of tooth decay, one of the most common diseases in the world and one which can have a significant impact on patients' lives."
Andy Laing of Archangel Informal Investment, said: "Calcivis has advanced its technology very rapidly to the point where it now has a CE Mark in readiness for marketing in Europe. Our new investment, and the Biomedical Catalyst award, will support further clinical development work and further advances to the technology as the Company prepares to commercialise the system."
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 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. The resulting images provide a focus for discussion with patients about their caries management programme and the development of a tailored, rational, evidence-based treatment in line with dental best practice.
About Calcivis
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.
The Calcivis approach was developed with input from leading specialists in caries management; Professor Nigel Pitts and Dr Christopher Longbottom (Dental Innovation and Translation Centre, King's College London Dental Institute) both internationally renowned for cariology, health services and translational research.
Calcivis was established in 2011 and in August 2012 completed a fundraising led by Archangels Informal Investment and including the Scottish Co-Investment Fund. http://www.calcivis.com
About Archangel Informal Investment
Archangel Informal Investment is Scotland's leading Business Angel Syndicate. Originally formed in 1992 and based in Edinburgh, the syndicate now comprises around 100 investor members and is investing c. £10m per year in early stage Scottish companies, including leverage from partners, the largest being the Scottish Enterprise Co-Investment Fund.
About the Technology Strategy Board
The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit http://www.innovateuk.org.
About Catalysts
Catalysts are run jointly by the Technology Strategy Board and the Research Councils. A Catalyst is a form of research and development funding which focuses on a specific priority area and aims to help take projects from research to as close to commercial viability as possible. The Catalyst model supports projects in priority areas where the UK research base has a leading position and where there is clear commercial potential. Current Catalysts include: Biomedical Catalyst, Agri-tech Catalyst and the Industrial Biotechnology Catalyst. For more details please visit: https://www.innovateuk.org/-/catalysts
About the Scottish Investment Bank
The Scottish Investment Bank is the investment arm of Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF); the Scottish Seed Fund, the Scottish Recycling Fund and the Renewable Energy Investment Fund. SIB is also the cornerstone investor in the privately-managed Scottish Loan Fund and an investor in Epidarex Capital's life sciences fund. These support Scotland's SME funding market to ensure businesses with growth and export potential have adequate access to capital. SIB also provides a team of financial readiness specialists to help companies prepare for new investment and more easily access finance.
Contacts
Adam Christie, CEO
Tel: +44-(0)7795-600571
E-mail: info@calcivis.com
Chris Gardner, CitigateDeweRogerson
Tel: +44-(0)207-638-9571
E-mail: chris.gardner@citigatedr.co.uk
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