Entrepreneurial firm raises fresh cash for launch of novel medico device  

2008.09.16
Medotech has raised a DKK 8m investment from existing investors and needs a further DKK 30m later this year for launch of its main product, Grindcare
Aarhus-based entrepreneurial company Medotech has raised a DKK 8m (USD 1.5m) investment from its existing investors and needs a further DKK 30m (USD 5.7m) later this year to roll out its main product Grindcare, a device that prevents dental damage and related symptoms caused by bruxism, writes financial daily newspaper Børsen.
 
Bruxism is the technical term for grinding and clenching of teeth, which can cause jaw pain, tense muscles and headaches along with excessive wear on the teeth. More than 20 million people in Europe and the US are estimated to suffer from bruxism. Up to now the only recognised treatment for the condition has been an occlusal splint, also called a bite splint, a type of mouth guard that reduces the frictional damage on the teeth.
 
Medotech's new product Grindcare is a different device altogether, consisting of a headband with built-in electrodes, a microprocessor and a display. Grindcare is designed to detect the movement pattern in the jaw that leads to bruxism. When the movement is detected, Grindcare sends out a low-grade electrical pulse to relax the muscle and stop it from tensing. According to Medotech's website, repeated use of Grindcare can “teach” the muscle to relax on its own, thereby reducing the need for the device over time.
 
Medotech is currently rolling out Grindcare in Scandinavia and plans to venture into Europe and the US over the coming years. MD of the company Troels Bierman Mortensen told Børsen: "It has cost us DKK 20m to get to where we currently are. Now we have gained DKK 8m and the objective is to get a further DKK 30m before the end of the year. Then we are fully financed and by 2011 at the latest we will be profitable with an estimated revenue of DKK 100m."
 
Occlusal splints currently generate annual sales of DKK 20bn (USD 3.8bn).
 
Link > Medotech   

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