CALCiViS closes equity funding to advance imaging system
Proceeds will be used to file a PMA with FDA and to launch the imaging system in the UK
Edinburgh, October 4th 2017 – CALCiViS , a medical devices company focused on revolutionising the management of tooth decay and enabling preventive dentistry, announces it has secured new equity funding. Existing investors Archangel Investors and the Scottish Investment Bank, participated in the round alongside, Julz, a US-based healthcare fund.
The CALCiViS imaging system is a sophisticated medical device and consumable combination designed to transform the assessment and management of demineralisation associated with dental caries and erosion. The CALCiViS imaging system will, for the first time, allow the real-time visualisation of calcium ions released from demineralising tooth surfaces, in routine dental practice. The resulting images provide a focus for discussion with patients and enable the development of a preventive treatment plan in line with dental best practice. The CALCiViS imaging system has gained a CE Mark in Europe and will be launched in the UK later this year.
The new investment will support the next key commercialisation steps:
UK launch of the CALCiViS imaging system to dental practices, the product’s first commercial launch.
Pre market authorisation (PMA) filing with the FDA before the end of 2017 in anticipation of early 2019 launch in the US.
CALCiViS will host an event at the British Dental Industry Association “Showcase” in Birmingham, UK, October 19th – 21st, 2017. The CALCiViS imaging system will be presented at the exhibition and through a series of short lectures, one on each day of the event.
Adam Christie, CEO of CALCiViS , said: “This new investment will enable the Company to progress the unique CALCiViS imaging system towards commercialisation in the UK and the US. Our completely novel approach to dental imaging allows the live visualisation of active tooth demineralisation and will help to establish a new standard of preventive care in dentistry. Clinicians will be able to provide a clear justification to their patients for the preventive dental care plan that they propose to undertake, ensuring better compliance and allowing them to build a stronger relationship with their patients.”
Dr Zishan Haroon, Chairman and General Partner of Julz, said: “The new and distinct method used by CALCiViS of envisioning free calcium allows early detection of demineralisation. This ability dramatically changes care planning and appropriate intervention for patients leading to preservation of their original teeth and better oral hygiene. We are delighted to participate in the growth and scaling of such an innovative company providing real solutions to the dental field.”
Dr Sarah Hardy, Chief Investment Officer at Archangels, said: “With a number of key value-generating milestones including clinical data, a PMA filing and the launch of the CALCiViS imaging system in the UK expected in the coming months, we are delighted to continue to support the company as it reaches the market adoption phase in its development. We are confident that the CALCiViS imaging system will make a real impact on the management of caries and erosion and will herald a new era of preventive dentistry in both the US and Europe.”
Kerry Sharpe, Director of Scottish Investment Bank, said: “This funding round will enable CALCiViS to demonstrate the commercial potential of their dental imaging system, taking the company to its next stage of development. It will also further contribute to Scotland’s Life Sciences cluster – one of the most accessible, well-connected and collaborative in Europe.”
About Julz Co
Julz Co is a venture capital firm focused on investments in the health care industry with an emphasis on therapeutics, medical devices, digital healthcare and services. Julz invests globally in companies that have novel and proprietary technology addressing a vital market need and are driven by experienced management teams. The company has offices in Chapel Hill, North Carolina, USA and Suzhou, China.
Archangels is a prominent business angel syndicate which has been at the forefront of early stage investing in Scotland for more than two decades. Its members invest in, and mentor, promising start-up and early stage companies from Scotland’s vibrant technology and life sciences sectors. Originally formed in 1992 and based in Edinburgh, the syndicate now comprises over 80 investor members and leads investment of around £15m per year in early stage Scottish companies, including leverage from partners, the largest being the Scottish Investment Bank. Archangels is interested in Scottish technology companies, which are looking for initial funding of £50,000 to £2m. In addition, Archangels is keen to welcome new investors to its syndicate.
About Scottish Investment Bank
The 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), and the Renewable Energy Investment Fund. SIB is also an investor in Epidarex Capital’s life sciences fund and is a participant in the Scottish European Growth Co-Investment Programme alongside the European Investment Fund. SIB’s investment funds support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital. SIB also provides a team of Financial Readiness specialists to help companies prepare for new investment and access appropriate finance.