Manchester Uni spin-out raises £600k funding for software rollout
Dental diagnostic tech company Manchester Imaging has secured a six-figure investment to roll out new software.
The company raised £600k from the GM&C Life Sciences Fund to support the development and launch of its first suite of software products, which use machine learning and computer vision processes to detect tooth decay early.
Manchester Imaging is a spin-out of The University of Manchester established by UMI3 Ltd, the university’s agent for intellectual property commercialisation.
The company’s work is based on over 10 years of academic collaboration between professor of restorative dentistry Hugh Devlin and Dr Jim Graham, honorary reader in the Centre for Imaging Science.
Manchester Imaging CEO Tony Travers said: “I’m very pleased to be working with Catapult Ventures and Mercia Fund Managers, and to have secured the funding to enable Manchester Imaging to commercially launch CARIESDENT for the detection of early stage tooth decay.
“I look forward to supporting dentists and their patients to identify tooth decay earlier, thereby enabling the use of preventative treatments or earlier intervention to avoid the need for fillings.”
The GM&C Life Sciences Fund is managed by Catapult Ventures and NPIF - Mercia Equity Finance, which is in turn run by Mercia Fund Managers and forms part of the Northern Powerhouse Investment Fund.
Mercia investment director Dr Mark Wyatt commented: “We’ve been very impressed with the progress made by the company and the well-rounded, highly experienced and commercially focused leadership team.
“Having previously backed the company through Mercia’s EIS Funds, we are delighted to continue supporting Tony and his team with growing Manchester Imaging as a leader in dental diagnostic imaging software.”
Alongside the investment, venture partner Kevin D’Silva from Catapult Ventures joined the board of Manchester Imaging as non-executive chairman.
Kevin said: “I’m delighted to be joining Manchester Imaging as a director and investor at an important time when the company is poised to launch CARIESDENT.
“I believe that its patent-protected technology and early partnership with a leading multinational dental supplier provides a good route to market and positions Manchester Imaging extremely well for commercial success.”