Odne secures fifth investment from the Dental Innovation Alliance
23 January 2024 11:53
Odne AG recently secured a fifth strategic investment from the North American venture capital firm Dental Innovation Alliance (DIA), further details of which can be found in a press release. This financing is intended to support the market launch of the innovative root preservation therapy, as well as to reduce the need for bleaching agents and to enable safer, more rapid endodontic therapies, which are treatments for the inside of the tooth.
In November 2023, Odne announced the company’s change of name. Up until this point, the spin-off from the Swiss Federal Institute of Technology in Zurich (ETH) and Swiss Federal Institute of Technology Lausanne (EPFL) founded in 2018 had traded under the name of Lumendo. The new name Odne, which reads as “endo” backwards (from the Greek èndon: inside), is intended to express the company’s mission to redefine the world of endodontics. At the same time, the company decided to leave Renens in the canton of Vaud in favor of new headquarters in Dübendorf in the canton of Zurich. In addition, Odne founded a subsidiary based in Gettysburg, Pennsylvania, in November 2023.
The change of name coincided with Odne’s entry into the US market, as the company outlined in November 2023. In July and November 2023, Odne received clearance from the US Food & Drug Administration (FDA) for its laser-based dental curing device Odne Cure and the innovative root canal filling material Odne Fill.
“I’m confident that their [the DIA’s] collective knowledge and expertise will uniquely help our company launch and expand in the United States”, as Andreas Schmocker, co-founder and CEO of Odne, comments in the press release. The market launch is scheduled for the second quarter of 2024. ce/mm