3rd Jul 2009 07:00
Imperial Innovations Group plc
Imperial Innovations increases stake in OSspray
London, UK 3 July 2009. Imperial Innovations (AIM: IVO, "Imperial Innovations"), a leading technology commercialisation and investment company, has increased its stake in OSspray, an emerging speciality dental company, following a further drawdown of £980,000 under its existing funding arrangements.
Imperial Innovations was the lead investor in the round and invested £650,000. Its co-investors included NESTA and The Capital Fund, managed by Yorkshire Fund Managers. This follows funding to date of £1,000,000, of which Imperial Innovations invested £600,000. Imperial Innovations now has a 31.3 percent share in OSspray on a fully diluted basis.
OSspray has developed a new dental technology application, which involves using bioactive glass as a desensitising and cleaning agent for air polishing of teeth. This is a treatment in which the dentist or hygienist fires a fine abrasive powder, in this case OSspray's new product Sylc™, at teeth using a high pressure air stream. Clinical tests have shown that dentists, hygienists and, most importantly, patients have significant benefits to gain from OSspray's Sylc™ technology over existing products - the treatment is quicker and easier to use, more comfortable, and it cleans, brightens and, crucially, desensitises teeth better than existing powders.
Importantly, traditional teeth whitening (bleaching) processes often cannot be used on patients with sensitive teeth. OSspray's novel use of bioactive glass helps overcome this problem, enabling treatment of a wider audience and increased revenue potential for the dental office. The chemical composition of the bioactive glass also means that, when combined with water or saliva, it forms crystals that become trapped in the dentine of the tooth and biologically bond into the mineral surface to promote regeneration of dentine and damaged tooth surfaces.
OSspray has now signed distribution arrangements for the UK with Optident Ltd and White Cross GmbH in Germany, and has now launched Sylc™ in Europe. Sylc™ is also being test marketed in a number of locations in North America.
Susan Searle, Chief Executive of Imperial Innovations, commented:
"OSspray is an exciting company with its lead product now in the market. This is an excellent demonstration of how we work with early stage companies to take a discovery from the laboratory to successful commercialisation of its products."
Enquiries:
|
Imperial Innovations |
|
|
Susan Searle, Chief Executive Officer |
Tel. +44 (0)20 7594 6589 |
|
Diana Crisp, PR Manager |
|
|
College Hill |
Tel. +44 (0)20 7866 7863 |
|
Carl Franklin / Tony Stephenson |
|
|
J.P. Morgan Cazenove (NOMAD to Imperial Innovations) |
Tel. +44(0)20 7588 2828 |
|
Steve Baldwin |
Note to Editors
Imperial Innovations is one of the UK's leading technology commercialisation and investment companies. Founded in 1986 and admitted to the AIM Market of the London Stock Exchange in 2006, Imperial Innovations' access to early stage technology and intellectual property is unparalleled.
Imperial Innovations' integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding, through investment, of technology businesses.
Based at Imperial College, London, Imperial Innovations' portfolio of equity holdings in more than 80 companies spans its four core areas of Healthcare, Engineering, Energy & Environment and Software & IT.
Companies in the portfolio of Imperial Innovations include: Circassia (allergy therapeutics), Evo Electric (electric motor and generator solutions), Nexeon (lithium ion battery technology), Polytherics (drug development), Quantasol (solar concentrators) and Respivert (respiratory drug development).
Imperial Innovations has already realised significant value from its investments to date including from a recent trade sale in December 2008 when Thiakis Limited, a company in which Imperial Innovations had a 23.7% stake, was sold for up to £100 million to US-based Wyeth Pharmaceuticals.
www.imperialinnovations.co.uk
Related Shares:
Imperial Innovations Group