Aarhus-based biotech company Medotech has raised a DKK 30m (USD 5.7m) investment for the global launch of its main product Grindcare, a novel device used for the treatment of bruxism, reports financial daily newspaper Børsen. Via Ventures, owned by the Danish Labour Market Supplementary Pension Fund, accounts for DKK 20 m (USD 3.8m) of the sum.
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 the ailment. Up to now the only recognised treatment has been an occlusal splint (also called a bite splint), a type of mouth guard that reduces the frictional damage on the teeth. Global sales of occlusal splints total approx. DKK 20bn (USD 3.8bn) annually.
Medotech's new product Grindcare is a different device altogether, consisting of a small electrode placed on the temple, which measures the movement of the facial muscles during sleep. Whenever bruxism is detected, Grindcare emits an electric impulse which causes the relaxation of the facial muscles involved in bruxism. According to Medotech's website, clinical studies have shown that Grindcare can reduce bruxism by more than 60 per cent in 3 weeks and up to 80 percent in 6-8 weeks.
Troels Biermann Mortensen, MD of Medotech, says the company plans to grow from revenues of around DKK 10m (USD 1.9m) this year to approx. DKK 100m (USD 19m) in two to three years. "Since we are the first and have a unique product, we have the potential of a cancer treatment product, but with development costs of a plastic catheter."
Grindcare has been launched in six countries in Europe, with three more scheduled to follow this year. The plan is to introduce the product in the US next year.