AN Edinburgh-based biotechnology company has secured a substantial £5 million in funding to propel its innovative dental technology into the US market.
Calcivis, the brains behind patented technology for early detection of tooth decay, is set to deploy its cutting-edge dental system in the United States, thanks to a recent injection of funds. The latest financing round, led by £4 million from the Scottish National Investment Bank, along with an additional £1 million from IFS Maven Equity Finance managed by Maven Capital Partners, will drive the company’s expansion.
The company’s flagship product, which has received premarket approval from the Food and Drug Administration (FDA), marks a significant milestone as the first Scottish medical device to achieve such recognition from the FDA.
Calcivis, headquartered at Edinburgh’s BioQuarter, has raised over £18 million in funding, with support from investors such as Scottish Enterprise and Archangels.
Adam Christie, Chief Executive of Calcivis, underscored the significance of early diagnosis and treatment in oral health. He expressed optimism about the global impact of their innovative product, stating, “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.”
Paul Callaghan, Investment Director at the Scottish National Investment Bank, hailed Calcivis as a trailblazer in developing technology that enhances health and well-being. He emphasised the bank’s commitment to supporting the company’s expansion into international markets.
Ken Cooper, Managing Director of Venture Solutions at the British Business Bank, highlighted the importance of health tech and life sciences in driving Scotland’s economic growth. Through the Investment Fund for Scotland, the British Business Bank aims to bolster businesses with high-growth potential, including Calcivis.
With its pioneering dental technology, Calcivis is poised to revolutionise preventive oral healthcare, potentially benefiting over two billion people globally affected by cavities, according to the World Health Organisation.
