The Edinburgh medical device firm secured backing from Archangels and the Scottish Investment Bank to prepare for its American market entry.
"We are delighted by the continuing commitment of our existing investors in this financing. This new investment allows us to continue to execute our strategy as we anticipate PMA approval for our CALCIVIS Imaging System later this year from FDA. We remain very confident in the potential of this new approach to preventive dentistry in the US, when it is launched in the world’s largest dentistry market in 2020. This optimism has been reinforced by our experience in the UK, where the CALCIVIS Imaging System has been shown to provide reliable, visualisation of demineralisation enabling bespoke, evidence-based preventive treatment for dental caries patients."
NVM Private Equity led the investment round with participation from Archangels and the Scottish Investment Bank.
"Our investors are a key part of our team, and I’m delighted to have NVM join us on the journey as we work together to build a company focussed on delivering success for our customers."
The funding will enable Bio-Images Drug Delivery to expand its manufacturing capacity and grow its team across two sites.
"OralogiK is a truly exciting technology that could transform the lives of many patients and this funding will accelerate its route to market. More than that, by partnering with Archangels, BDD can access its network of sector experts and ensure that we can fully capitalise on the potential of OralogiK"
