3D Diagnostic Imaging -- parent company of CarieScan -- has raised 2.71 million pounds ($4.3 million U.S.) and intends to start trading on London's Alternative Investment Market as of November 22, 2010, the company announced.
The financing gives 3D Diagnostics a market valuation of more than 10 million euros ($16 million) and is aimed at improving its manufacturing capacity and reducing the cost of making its devices, the company noted.
"3D has reached an exciting stage in its development where its strategic objectives can be more readily achieved by a listing on AIM, providing the group with access to additional funding to achieve our growth aspirations," James Noble, chairman of 3D Diagnostic Imaging, said in a press release.
Using technology developed at two Scottish universities, 3D Diagnostic Imaging has commercialized the CarieScan Pro, a handheld device that utilizes electronic impedance spectroscopy to detect caries by gathering information about mineral density in the teeth.
Goals for growth hinge on expansion to U.S. and Canadian markets, and the company recently teamed with Patterson Dental to facilitate distribution. The first round of products has shipped.
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