Funding
Imperial Innovations Group plc, the quoted technology commercialisation arm of Imperial College London, has increased its stake in OSspray, a speciality dental hygiene company, investing a further £750,000. This is part of a drawdown of a further £1.5 million by OSspray under an existing funding arrangement.
Imperial Innovations was the lead investor in the round, with co-investors including NESTA and the Capital Fund, which managed by YFM Venture Finance. In addition Simon Cartmell, Chairman of OSspray and CEO of ApaTech, the bone graft specialist sold to Baxter Healthcare for $330 million, has invested in the round. In total, Imperial Innovations has now invested £2 million and holds 37.7 per cent of OSspray.
OSspray has developed a desensitising and cleaning agent for air polishing teeth based on bioactive glass. The dentist or hygienist fires a fine abrasive powder, called Sylc, at teeth using a high pressure air stream. OSspray says this will cleans and polish, desensitise, and rebuild tooth dentin and enamel in one treatment.
OSspray has launched Sylc in Europe and North America, having signed distribution arrangements for the UK, Germany and the US. A pipeline of other applications using the bioactive glass technology is also under development.
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