Dübendorf ZH/Raleigh – The North American venture capital firm Dental Innovation Alliance has invested in Odne for the fifth time. This supports the market launch of the innovative root canal treatment that Odne will introduce to the market in the second quarter of 2024.
According to a press release, Odne AG has received the latest and fifth strategic investment from the North American investment firm Dental Innovation Alliance(DIA). This funding is intended to support the market launch of the innovative root preservation therapy. It is intended to reduce the need for bleaching agents and enable safer and faster treatment in endodontics, the treatment of the inside of the tooth.
In November 2023, Odne announced the change of the company name. So far, the spin-off created in 2018 by the Swiss Federal Institutes of Technology in Zurich and Lausanne has been operating under the name Lumendo. The new name Odne, a backward reading of endo (from the Greek èndon: inside), is intended to express the fact that the company is redefining endodontics. The move from Renens VD to Dübendorf ZH also took place at the same time. Additionally, in November 2023, Odne established its subsidiary based in Gettysburg, Pennsylvania, USA.
The company announced in November 2023 that the name change coincided with Odne's entry into the North American market. In July and November 2023, Odne received approval from the US Food & Drug Administration (FDA) for its laser-based dental curing device, Odne Cure, and its innovative filling material, Odne Fill.
"I am confident that DIA's collective knowledge and experience will help our company launch and expand in the United States," Odne CEO and co-founder Andreas Schmocker is quoted as saying. This market launch is scheduled for the second quarter of 2024. ce/mm