Imperial Innovations (AIM:IVO), a leading technology transfer and commercialisation company, today announces that it has led a Series A investment of £3.0 million in OSspray Limited (‘OSspray’), a company which has developed a proprietary range of revolutionary products using bioactive glass for air polishing and air abrasion in dental procedures. Imperial Innovations has committed £2.0m, increasing its total holding to 38.1%. Other investors in this round include the Capital Fund, NESTA and private investors. The funds raised will be used to launch OSspray’s products in the North American and European markets.
Air polishing is an increasingly integral part of regular dental hygiene, performed by dentists and hygienists. The technique involves firing a fine powder at the tooth using a high pressure air stream. OSspray has developed novel forms of bioactive glass which can be used in the same way as existing powders but offer significantly enhanced benefits to the patient and dentist, including:
* Cleans teeth markedly better than existing powders;
* More effective at whitening teeth than existing powders;
* Dramatically reduces sensitivity in teeth;
* Ease of use compared to existing air polishing powders;
* Reduces treatment time by nearly half;
More importantly, OSspray’s products can be used on people with sensitive teeth, opening up air polishing to a wider audience and consequently offering increased revenue opportunities. Sensitive teeth are also a by-product of bleaching and the ability to desensitize teeth, before or after whitening, also opens up the bleaching market.
OSspray has also developed a pipeline of speciality bioactive glass products. The first of these is a specialist air polishing, whitening and, desensitising powder. OSspray also has powders planned for removal of orthodontic glues and for removal of caries, a bacterial infection on the surface of the tooth which leads to cavities, as well as an air abrasion powder to remove damaged and decayed parts of the tooth prior to filling. Lastly, OSspray is exploring the potential for its range of products to re-mineralise teeth by rebuilding the enamel.
OSspray’s technology is based on the research of its CTO Dr Ian Thompson, formerly of the Materials Department at Imperial College London. The company has built a strong management team with relevant experience in the sector. Jacqueline Walker, CEO has over 20 years experience in the North American dental products market, including 13 years with Dentsply International, the leading manufacturer of dental products. Her last general management role in Dentsply was as VP and General Manager of the Professional Division which sold market leading air polishing machines and powders to dental practices in the US and Canada. Simon Cartmell, Chairman of OSspray, is CEO of ApaTech, the highly successful bone regrowth technology company, and has first-hand experience of taking a UK university spin-out company into the US markets.
Susan Searle, Chief Executive Officer of Imperial Innovations, said:
‘The worldwide dental products market offers significant opportunities for OSspray’s technology. We are delighted to support OSspray with additional investment as the company is poised to commercialise its products. Collectively OSspray’s management team have an enviable track record of product launches and experience in the US and European markets. We look forward to their continued success in this next phase of OSspray’s growth.’
Simon Cartmell, Chairman of OSspray said, ‘We are delighted with the support we have received from Imperial Innovations and our other investors which allows us to commercialise our innovative products in key markets globally. It is encouraging to receive such on going support from one of our founding institutions.’
