Medotech seeks investor for launch of its novel medico device in US  

Medotech has gained marketing approval in the US of its Grindcare product and is seeking an investor who can provide DKK 15-20m for the launch
The Danish company Medotech has gained a marketing approval in the US of its product Grindcare, a novel device used for the treatment of the grinding and clenching of teeth, and is now seeking a new investor who can provide DKK 15-20m (USD 2.7-3.6m) for the launch, reports financial daily newspaper Børsen.
Teeth grinding and clenching, or bruxism in medical terminology, 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 complaint. 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 3.6bn) 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 electrical impulse which causes a 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 50 per cent in 3 weeks and up to 80 percent in 6-8 weeks.
Grindcare has been introduced on eight markets so far, and Medotech plans to launch its product on a handful of additional markets in 2010 including the US. According to Børsen, the launch of Grindcare on the US market is part of a plan to increase Medotech's revenue from DKK 3m (USD 540,000) in 2009 to DKK 50-100m (USD 9.1-18.1m) by 2011-12 and pave the way for a sale of the company.
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