IFS Maven Equity Finance invests £1 million in dental pioneer Calcivis

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Edinburgh-based MedTech company, Calcivis, has successfully secured £5 million in funding to launch its innovative dental technology. The equity finance was provided by the Investment Fund for Scotland (IFS), managed by Maven and delivered by the British Business Bank, alongside the Scottish National Investment Bank (SNIB).

Published: Apr 02, 2024
Focus: IFS Maven Equity Finance

Calcivis' patented technology uses bioluminescence to image early, active decay enabling dentists and their patients to visualise areas which, if left untreated, will develop into caries. The company’s innovative diagnostic product will help drive preventive dentistry, reducing the need for the current, drill and fill approach.

“Early diagnosis and treatment of tooth decay is essential, allowing patients to reverse the damage to their teeth before it is too late. 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.

“This technology has the potential to revolutionise prevention in oral health care, with cavities impacting more than 2 billion people globally, according to the World Health Organisation. We look forward to seeing where this product can go with the support of both the Scottish National Investment Bank, and the Investment Fund for Scotland – through Maven.” 

Adam Christie, CEO of Calcivis

The business will use the funds to bring its flagship product to market in the US after the Food and Drug Administration (FDA) granted premarket approval, which is the most stringent regulatory review of the safety and effectiveness of medical devices. The system is the first Scottish medical device to secure the prestigious certification from the FDA. After initial launch in the US, the largest market for medical technology, Calcivis anticipates launching in the UK and other European markets. 

“Tooth decay is the most common nontransmissible disease globally and is believed to cost western economies over $300 billion annually, much of which is spent treating, rather than preventing damage to our teeth. Maven is therefore delighted to be supporting Calcivis’ revolutionary technology which allows both dentist and patient to visualise active decay at a point where it can be reversed and which should reduce the need for drilling and filling. We look forward to working with the Calcivis team as they launch this exciting new product.”

David Milroy, Partner at Maven

“Health tech and life sciences are key areas of opportunity for the Scottish economy and, through the Investment Fund for Scotland, we’re committed to supporting businesses with high-growth potential such as Calcivis. Our ambition with the fund is to improve access to finance for founders and entrepreneurs across Scotland, providing critical funding to help exciting businesses take the next steps – in this instance, bringing new products to new markets.” 

Ken Cooper, Managing Director, Venture Solutions, at the British Business Bank

As Fund Manager of IFS - Maven Equity Finance, Maven can provide investment of up to £5 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is looking at equity investment as a solution to fund future growth please click here.

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