Dental firm 3D Diagnostics set for Aim stock exchange
3D Diagnostics Imaging plc is marketing a product developed at Scottish universities and is set to list on the Aim stock exchange.
The company is marketing the CarieScan hand-held sensor instrument, which is used to detect early warning signs of dental decay; the device allows early treatment, which subsequently reduces the need for fillings and dental X-rays.
The CarieScan device was developed by teams at Dundee and St.Andrews universities. On Wednesday, 3D Diagnostics Imaging plc announced that they had raised 2.7 million pounds marketing the product and would now start trading on the Aim (Alternative Investment Market) stock exchange in London.
The financing deal is worth around 10 million pounds and the cash injection will be used to try and reduce manufacturing costs and increase production. The main aim of the marketing company is to target dental companies and professionals in the USA and Canada; 3D has already signed a deal with Patterson Dental, a large distributor in Canada and America.
In the long-term, the team is also hoping to adapt the device to detect early signs of osteoporosis and malignant melanomas; there are also plans to develop the product in order to monitor battery life on electric vehicles and rates of corrosion on buildings.
Chairman of 3D, James Noble, said that the company was undergoing exciting developments; listing on Aim enables the company to increase production and target large distributors in the global market. The deal with Patterson Dental will enable the team to step up production and offer more competitive prices.
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