Odne announces closing of USD 5.5 million USD Series A1 Financing Round to fund the US market launch

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Mar 13, 2024, 16:53 ET

DUBENDORF, Switzerland , March 13, 2024 /PRNewswire/ -- Odne Ltd, a Swiss dental start-up company and upcoming innovator in endodontic treatments, is pleased to announce the closing of its Series A1 Financing Round raising USD 5.5 million (CHF 4.8 million) to fund the upcoming US market launch. Odne's game-changing technology platform for Root Preservation Therapy (RPT) is expected to transform endodontics. The Odne RPT workflow introduces three new medical devices enabling minimal invasive root canal cleaning and light-cured obturation.

Odne`s technology platform for root canal debridement and obturation including: the first hydro-dynamic cavitation device using saline as main debridement medium, and the first FDA cleared highly flowable, light-cured obturation material.

The Series A1 round is led by Revere Partner (NY), an independent venture fund providing capital for cutting-edge innovations in oral and systemic health, and NV Capital (LIE), a family-owned venture capital boutique. Alongside the lead investors several other renowned funds such as Dental Innovation Alliance (DIA), Plug&Play, Hatcher, Züricher Kantonalbank, as well as various family offices and angel investors are backing Odne`s US market launch.

"With over 15 million root canal treatments per year, the US is the biggest market worldwide and our number one focus. Currently, we are performing a Priority Access Program to deepen the use of our products with selected US key opinion leaders. At the annual meeting of the American Association of Endodontists (AAE) in April, in Los Angeles, we will introduce the Odne RPT workflow solution to the endodontic community," states Dr. Andreas Schmocker, CEO & Co-Founder, Onde.

"Odne is within the core investment focus of Revere Partners: innovations in oral health. After receiving FDA clearance for Odne™Cure and Odne™Fill in 2023 the series A1 financing fuels Odne`s US market launch to the endodontic community. Together with all investors, Revere Partners is proud to elevate Odne`s RPT workflow for the benefit of patients, endodontists, and the referring general dentists," adds Dr. Jeremy Krell, Managing Partner, Revere Partners.

To serve the US endo specialist market, Odne has recently founded Odne Inc, USA. The team of Odne is evolving, incorporating experienced and well-connected dental experts, building training, service, marketing, and sales.

About Odne

Odne (Onde Ltd and Odne Inc) is a Swiss-US dental startup. that has its roots in a groundbreaking collaboration between two renowned universities: the Swiss Federal Institutes of Technology in Lausanne and Zürich (EPFL & ETH Zürich). Founded in 2018, Odne`s journey began by licensing cutting-edge technology assets from these esteemed institutes.

Odne represents a harmonious synergy of Swiss precision and academic excellence. Our company is committed to pioneering the future of endodontics through advanced technology and innovative solutions. Endodontics, the field of dental medicine that deals with root canal treatments, has been marred by complexity and unpredictability. Odne AG is on a mission to change that.

Root canal treatments have long posed challenges for dentists, with traditionally low success rates ranging from 46% to 91%. With over 60 million annual treatments worldwide, these failures result in significant healthcare costs.

Odne's technology platform addresses these issues by offering treatment options for both, dentists and their patients. Our products, slated for launch in 2024, tackle problems such as debridement and obturation in complex root canal morphologies.

About Revere Partners

Revere Partners is the first and only venture capital fund globally focused on investing in oral health technology. Revere invests in cutting-edge and innovative dental technology companies that improve the lives of dental patients and providers through advancements in science and technology. Revere Partners invites new accredited investors to join the fund and enables startups to connect with unrivaled industry resources and growth opportunities. Founded by Dr. Jeremy Krell and David Arena, Revere Partners fosters strategic partnerships that improve care delivery as well as patient and provider experiences – maximizing value for investors. To learn more visit www.reverepartnersvc.com or on LinkedIn.

About NV Captial

N & V Capital is a family-owned venture capital boutique focused on European investments in various sectors such as Fintech, MedTech, and Digital Health. With generations of entrepreneurial experience, N & V seeks scalable ventures driven by technology or scientific progress. The boutique brings its own entrepreneurial experience to the table and offers its extensive network and expertise to visionary founders seeking sustainable growth for their companies. Although N & V Capital invests up to Series A, the main focus is on early-stage investments.

Disclaimer: Odne™Fill and Odne™Cure are cleared for use in the U.S.A only. All other Odne devices are currently in development and have not received clinical approval in any jurisdiction.

Odne`s technology platform for root canal debridement and obturation including: the first hydro-dynamic cavitation device using saline as main debridement medium, and the first FDA cleared highly flowable, light-cured obturation material.

For further information contact:
Holger Essig, General Manager / Head of Global Marketing
Odne AG, Ringstrasse 14, 8600 Dübendorf, Switzerland
[email protected]
www.odne.co

SOURCE Odne Inc.