Imperial Innovations leads first-round funding of OSspray

Investment

The quoted technology commercialisation company Imperial Innovations led the £3 million first round funding in OSspray Ltd, which has developed bioactive glass for use air polishing and air abrasion in dental procedures.

Imperial Innovations committed £2 million, increasing its total holding to 38.1 per cent. Other investors include the Capital Fund, Nesta and private investors.The money used to launch Osprey’s products in the North American and European markets.

Air polishing 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 cleaning and whitening teeth better than existing powders, reducing sensitivity in teeth and reducing treatment time by nearly half.

Osprey’s products can be used on people with sensitive teeth, opening up air polishing to a wider audience.  Sensitive teeth are also a by-product of bleaching and the ability to desensitise teeth, before or after whitening, also opens up the bleaching market.

The company also plans to develop powders for removal of orthodontic glues and for removal of caries, and 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.

Osprey’s technology is based on the research of its Chief Technology Officer, Ian Thompson, formerly of the Materials Department at Imperial College London. The CEO, Jacqueline Walker, has over 20 years’ experience in the North American dental products market, including 13 years with DENTSPLY International, the leading manufacturer of dental products, latterly as VP and General Manager of the Professional Division which sold air polishing machines and powders to dental practices in the US and Canada.

Simon Carmel, Chairman of OSspray, is CEO of Partech, the bone regrowth technology company, and has first-hand experience of taking a UK university spin-out company into the US markets.

OSspray was founded in 2004 around on intellectual property that combines materials science from Imperial College and dental application know-how from King’s College London.  The company previously raised £750,000 in seed funding from the Kinetique seed fund, angel investors and management.

US regulatory approval has been received for the company’s first product, along with a European CE, enabling the product to be launched in both markets in 2008.