Central regions | Technology & innovation | Finance, business
RVC Seed Fund announces exit from innovative dental care company
2 Apr '14
The government-owned RVC Seed Fund has announced a successful exit from Diastam, its portfolio company developing innovative dental care products.
The Fund has sold its 5.5% stake in the company to Science, Engineering, Medicine, a sizable Russian company pushing innovation in the biomed and other sectors, at a 60% ROI, RVC underscored.
In addition to developing and commercializing both domestically and internationally its new line of tooth pastes and brushes, Diastam is said to have developed what RVC referred to as “unique” photodynamic therapy technology for use in dentistry. Unlike conventional phototherapy, in this new method wholesome impact of light from a tooth brush is considerably enhanced by the light’s interaction with a special photosensitive substance in a tooth paste.
At the moment, Diastam is completing development and working to bring to market an array of innovative models of tooth brushes. The Russian market for dental care products is estimated to be around $1bn, and sales of tooth brushes account for 21% of the entire market a year. Russian customers buy an estimated 63 million tooth brushes every year, RVC said.