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#1: What have you actually invented? And how do you know it'll work?
Our company founders are world experts in dental caries (tooth decay).
They have invented a way to repair tooth enamel. So instead of hoping a patient looks after their teeth more, or having to put in a filling, we reverse the tooth decay and repair the enamel.
Like all simple but brilliant ideas there has been a great deal of hard work to understand and optimise how to get the minerals to go back into the enamel lesion, and to build a simple treatment and dental instrument to do this.
We are confident that it works because we have done almost all of our research and development on extracted human teeth, that’s the nearest thing to human teeth in the human mouth.
Because it is based on a natural process, it’s understood how minerals (Calcium and phosphate molecules) go back into tooth enamel, and how they join and form part of the enamel.
We just invented how to help nature along and make it easier to push lots of mineral in quickly and painlessly.
#2: How does the science work behind your invention?
Our revolutionary treatment provides a natural, painless way to repair early-stage tooth decay.
It is a two-step process.
Firstly, a lesion in the enamel is identified by a dentist and conditioned with a quick and simple set of washes to remove decay and exogneous materials that may have built up within the decayed lesion.
Some natural minerals are applied locally to the lesion and then a tiny electric field is used to help drive the minerals into the deepest parts of the now cleaned-out lesion.
The minerals pack closely together and start precipitating (hardening) onto the existing enamel structure. Very quickly the lesion will fill and the enamel is strong and healthy again.
Our technology will offer a painless, quick treatment that can be performed on all tooth surfaces and sites of decay. The treatment can be carried out quickly and safely by a hygienist or nurse, under the careful supervision of a dentist.
#3: What is early-stage tooth decay?
The language and definitions used in discussing caries (tooth decay) are becoming increasingly standardized around the globe. The American Dental Association (ADA) and the International Caries Assessment and Detection System (ICDAS) have recently published guidelines that harmonise the language and meaning to use in describing caries disease.
This is a very helpful development that enables clinicians all around the world to “speak the same language” when they are discussing caries.
Until recently it was near-impossible to compare results from clinical studies carried out in different parts of the world, as the terminology and meaning was all different.
That’s a long way of explaining what we mean as early-stage tooth decay is ICDAS 1 and 2. That’s decay that has not cavitated through the enamel (the hard outer shell of a tooth) into dentine (some of the softer tissue).
Our co-founder Professor Nigel Pitts has been strongly involved in leading this international harmonisation.
#4: How do dentists treat tooth decay at the moment?
Dentists fight tooth decay in two ways.
A: By encouraging preventative actions like good brushing using fluoride toothpaste.
B: By resorting to the “drill and fill” procedure (the same technology we were using 100 years ago).
In drill and fill:
- The dentist drills out tooth decay and nowadays tries to remove as little healthy tooth matter as possible. He/she then fills the cavity (hole) with an amalgam of mercury metal or plastic material.
- Over time, the filling becomes worn, or dislodged, or more decay may occur nearby. Often this requires a re-drill and re-fill, further weakening the tooth structure.
- This can lead to the loss of the tooth. Or the need for painful and expensive root canal treatment as a patient gets older.
- As people live longer, maintaining healthy teeth becomes more and more important. Wearing down of enamel (the white substance covering the crown of the tooth) and receding gums happen as you age. These make the tooth structure more fragile and exposed.
Our technology can change all that.
#5: How does Electrically Accelerated Enhanced Remineralization (EAER) help fight early-stage tooth decay (dental caries)?
We offer a new way to reverse early-stage caries and repair the tooth enamel to its starting healthy condition.
It’s a paradigm shift in preventative dentistry.
- You can use EAER as often as needed, so if you go to the dentist regularly for check-ups they will be able to reverse and repair any early-stage decay they diagnose.
- You get to have healthy teeth with strong enamel and no fillings. And all done without a drill or an injection. Remineralized enamel is reported by some as being even more caries-resistant than starting enamel (but we would prefer it everyone had no caries at all to start with).
- No drill and no injections will make it easier for many people to go to the dentist, with the added benefit that if you go regularly and catch any caries early, you might never hear or experience a dentist drill again. That could be a massive boost to fighting caries as almost all dental bodies recommend that going to the dentist regularly is one key to having healthy teeth.
- At the moment dentists would have to “drill and fill” the tooth to remove and stop the decay getting worse. Then use mercury amalgam, plastics or metal fillings to create a useable tooth structure. Unfortunately, measured over a patient’s lifetime, lots of fillings need replaced again and again and the tooth gets weaker each time.
- Using EAER over a lifetime should keep patients’ teeth free of caries by keeping the enamel (the tough outer shell) strong. EAER should also be useful in developing countries where skilled dentists and suitable equipment are not always available. With EAER there is no need for anaesthetic injections. That’s a big help in developing countries. Being much less invasive than drill and fill means it should be possible to bring preventative caries treatment to many more people in developing counties.
#6: You say that you apply an electric field. Will the treatment hurt - and are there any side effects?
No, the treatment will not hurt. The electric field we apply is tiny, a few millionths of an amp, and will be less than what has been used for many years in different dental instruments. The patient will be completely unaware of the remineralization.
In addition, the conditioning steps use solutions already used in dentistry, so this step will also be safe and pain-free.
Research literature suggests that introducing material into tooth enamel is entirely safe and we expect clinical studies to confirm that it is not possible for the correctly carried out treatment to have any side effects at all.
#7: What stages of dental caries (tooth decay) are you able to treat?
Our initial product and treatment is aimed at early stage dental caries that has not clinically breached the enamel yet (ICDAS score 1, 2), the treatment of which currently accounts for approximately 50 per cent of a dentist’s typical working week.
We also expect to be able to treat ICDAS stage 4 caries which a slightly more developed stage of caries, that has, from a treatment perspective, similarities to ICDAS 2.
Moving forward, we will develop products and treatments that can be used for more advanced stages of tooth decay and for other dental treatments.
#8: How quick is a typical treatment?
The conditioning step takes about four minutes to perform currently and, once optimized, the remineralization step will take about 20 minutes. The whole treatment will be comparable to the typical time scheduled for current drill and fill procedures.
#9: I already have lots of fillings; can the Electrically Accelerated Enhanced Remineralisation (EAER) technology be used to reverse these?
Our technology reverses early-stage tooth decay and helps to prevent progression to later stage tooth decay. Once a tooth has been drilled and filled, we can’t help it just now. In the future we hope to be able to repair and reverse any new decay that occurs around the filing which should at least mean that you don’t have to have it re-drilled and re-filled.
#10: Does this technology only work if you catch the tooth decay early?
At the moment we can only painlessly repair early-stage tooth decay. We are confident that in the future, with the right level of investment, we will be able to develop our EAER technology to be able to treat later stage decay as well.
Until that time, if tooth decay is not caught early it will be traditional drill and fill. We hope that the future availability of our painless no-drill treatment will encourage people to go regularly to the dentist and get any early-stage decay reversed and repaired, and then they may never have to experience the dentist drill again.
Getting more people to go and have regular check-ups is one part of how we can help reduce caries.
#11: What are the benefits of your technology?
- Better patient safety, health and well-being
No anaesthetic, no drill, no mercury or plastics embedded in the tooth. And the natural tooth structure is maintained.
- Overcoming fear of the dreaded drill
Pleasant dental experiences reduce the fear factor and boost attendance rates for check-ups. This leads to reduced tooth decay.
- Widening the availability of caries treatment globally
In developing countries, removing the cost and need for anaesthetic injections greatly improves the possibilities for treatment, and potentially health of several billion people.
- Reduced oral healthcare costs for society
Early preventative intervention can cut costly later stage treatments – such as root canal treatment – and improve oral health. The global savings to healthcare providers and patients are immense.
- Quick and easy
Our treatment is quick and can be done as part of regular dental check-ups.
#12: EAER sounds great for the patient but are there also benefits for dentists?
In our opinion, dentists care more about preventative dentistry than any other group. It’s our shared passion!
Reminova’s EAER treatment will be good for business too. It takes the fear, stress, and the drill out of the dental experience, and many of the people who don’t go regularly (45 per cent in the UK) will.
Regular check-ups make up the bulk of most dentists’ working weeks. So we think dentists should be looking towards expansion and having higher numbers of patients, and lots more caries-free teeth.
As our EAER technology is painless so there is no need for anaesthetic injections. In certain countries, where regulations permit, this makes it easier for the treatment to be performed by dental nurses or hygienists supervised by a dentist. This allows more patients to be treated at any one time.
#13: You’ve developed the technology but what products are you going to make?
- A dental instrument for carrying out EAER treatments.
- Consumable treatment pack(s) for conditioning and repairing early-stage tooth decay.
We are currently developing the dental instrument (design and functionality) and the consumable treatments.
- We plan to offer similar products for a professional whitening treatment.
We are currently using proof-of-concept EAER prototypes built in a laboratory. These need further development and re-design to be suitable hand-held dental instrument products.
#14: How much will these products cost?
- EAER instrument: less than $10,000.
- Single use consumable treatment packs: substantially less than $10 (bought in bulk)
#15: Will they be reimbursable through dental cover or national health services?
We believe that reimbursement by dental insurance or through national health services will be very likely given the potential improvement in oral health, and cost savings from the reduction in the number of expensive later-stage reparative procedures.
#16: What’s the size of the market?
- 700,000 sale opportunities to dentists across eight key markets.
- Seven billion potential users.
- Treatment could be used in about 30-50 per cent of all dental check-ups.
- US insurers spend $50 billion on tooth decay. That’s $3000 every minute.
#17: What are the eight markets you have identified?
Our ambitions are global, we want Reminova’s EAER technology everywhere. But to achieve that we have to show we can crack some of the largest and more immediately available markets. These are: US; Brazil; Mexico; Canada; UK; Germany; France; Japan.
#18: Are there other markets for your technology?
With more development and investment, our technology has a wide range of different applications.
- Endodontics (root canals)
- Restorative (large cavities)
- Orthodontics (tooth straightening)
In each of these dental treatments we believe our technology can substantially improve patient health and well-being. And sell well.
#19: Can you expand on this?
We have carried out early research into a number of additional dental applications, where we see opportunity and large global markets. With very encouraging results.
Tooth-whitening is a fast growing multi-billion dollar market, and we think we can make the treatment simpler, safer, and better for your tooth health as well.
We want our EAER technology to lighten teeth by up to six shades in a 30-minute treatment. Not only will EAER whitening be simpler, but it will also be pain-free and safer.
#20: How long does Reminova believe that it will take to develop and when could EAER be available to the public?
Based on our current plans, around three years.
#21: You say it could be three years before patients benefit. How can you be sure of this timescale?
From our experience we estimate it will take around three years to bring our products to market and complete initial regulatory processes. This estimate is based on the management team’s shared experiences of managing and growing technology companies over the last two decades.
#22: Do you hold the IP rights to this invention?
Yes. We have the exclusive licence from King’s College London (KCL) to commercialise this technology globally.
Reminova is a spin-out company from KCL’s Dental Institute, one of the foremost dental schools in the world, and the largest in Europe.
#23: What about patents?
We have 17 patent and patent applications.
Four are granted already and the others are progressing towards that milestone. We believe our patents and applications broadly protect our complete technology and provide a “ground floor” or “master patent” position for the EAER treatment.
They also detail and protect how we go about translating the technology into useful dental products and treatments. We have patents granted within USA, Mexico, Japan, and in Europe, with patent applications progressing in other countries including Brazil, and China.
#24: Why are you crowdfunding?
- We want to build a shareholder base that is motivated by the clinical effectiveness of the dental treatments as well as the potential financial returns.
- We believe we can create a supportive collaborative relationship with our crowd investors, as potential end-users, customers, and partners as well as shareholders.
- We can substantially advance our company with £500,000 from this first round of equity investment.
- And if the £500,000 initial target is exceeded during the 60-day crowdfunding campaign, our “stretch target” is £1M.
- If demand is exceptional, we may consider a larger round of crowdfunding to bring our products to market even faster.
- The Board may seek trade investors, angel or venture capital investors instead of, or alongside, further crowd investment in the future.
#25: What is equity crowdfunding?
Equity crowdfunding offers shares while traditional crowdfunding offers only “rewards”.
Equity crowdfunding is a great way for us to find individuals who believe in our game-changing technology and want to be part of our journey by helping us fund our development. These investors receive a share in the future success of a company and a technology they believe in.
Equity crowdfundinghelps people with a great business idea to ask the general public for the funding they need to set up or expand. The unlisted company (a company that is not listed on a stock market) sets a target for the money it wants to raise, sets the terms of investment, and explains what it will use the money for.People can then invest in the company’s future by buying shares. Crowdfunding greatly widens the pool of potential investors.
#26: What are the minimum and maximum amounts I can invest?
We have not set a maximum investment limit. Our minimums are $5,000 for US and £1,000 for Europe.
#27: Why are there different minimum investment amounts?
US crowdfunding investors are “self-certified investors” and we set the minimum investment level to what we believe was a fairly low level for this audience.
We also have some higher costs for doing the crowdfund in the US. We wanted to give as many people as possible the chance to buy shares in Reminova during this first funding round, so we decided to set a lower minimum level for Europe where broader participation is possible.
#28: When do you expect to start making a profit?
Like most start-up companies developing medical or dental products it will be a number of years before our company is profitable, and we will require further rounds of investment to reach that point.
Our team will be working hard to achieve this goal just as soon as we possibly can. We believe our strategy of forming strategic partnerships will help accelerate this process.
#29: Is it usual for companies to seek investment before clinical studies have started?
Yes it’s very common, but until recently companies would get their investment from Venture Capital investment companies, angel syndicates and “friends and family” investors.
Equity crowdfunding is becoming increasingly important way to reach a wide target audience of investors who have a more long term interest in the company they are investing in.
#30: Who can invest?
This equity crowdfund is only open to persons resident in (1) the United Kingdom, European Union (“EU”), European Economic Area (“EEA”) or Switzerland (“CH”) who are either a “Certified High Net Worth Individual”, “Self-Certified Sophisticated Investor” or “Restricted Investor” (as these terms are defined in The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and/or in the FCA’s Conduct of Business Sourcebook at Chapter 4.7), or (2) persons resident in the United States of America who are “Accredited investors” as that term is defined in Rule 501 under the Securities Act of 1933.
You must not participate in the New Fundraise or make any other investments via the company’s website if you do not meet any of these criteria and you must not complete the online registration process as an ‘investor’.
#31: I live outside the EU and US, can I invest?
Investment through our equity crowdfund is only possible for those people who are resident for tax purposes in the US and Europe.
We may consider a substantial independent investment, but it will likely be after the crowdfund and at a potentially higher valuation. Existing ordinary and B ordinary shareholders will have pre-emption rights (that means first chance to invest again) so it is best to participate now if you can.
#32: What's to stop me as a US resident just paying in pounds if I only want to invest £1,000 GBP rather than $5,000?
The registration process for buying Reminova shares will reject any US residents who try to follow the separate registration process for Europeans (and vice versa) but even if it failed, their share purchase would be rejected prior to completing, and issuing of electronic share certificates, and they would miss out on the opportunity to be a shareholder in Reminova.
US crowdfunding investors are “self-certified investors” and we set the minimum investment level to what we believe was a fairly low level for this audience. We wanted to give as many people as possible the chance to buy shares in Reminova during this first funding round so we decided to set a lower minimum level for Europe where broader participation is possible.
#33: I am a UK investor - will Reminova be applying for EIS tax relief?
We will be applying for EIS relief at the close of the crowdfund. EIS relief depends on the individual’s tax circumstances as well as the company’s investment being EIS-compliant. We believe the crowdfund investment IS but it needs to be confirmed by HMRC.
#34: Can I invest independently of the crowdfund?
The crowdfunding is the immediately available way to invest in our company. We may consider a substantial independent investment, but it will likely be after the crowdfund and at a potentially higher valuation. Existing ordinary and B ordinary shareholders will have pre-emption rights (that means first chance to invest again) so it is best to participate now if you can.
#35: As an investor, do I have voting rights?
We are offering voting rights to those investors who invest more than £20,000 (or US dollar/Euro equivalent). All investors will have the equal return on capital rights.
Further information is shown in the document “Summary Note for Crowd Investors” which can be downloaded from https://reminova.sharein.com
#36: How will you use the money raised? What’s your priority?
The money will be key to making considerable progress for Reminova, and building value for all of our shareholders.
Our Board of Directors has authorised that we can accept up to £1,000,000 (our stretch target) if the crowd wants to support us. The priority will be further developing our treatment and entering the clinical phase, while we continue to build and strengthen our company and team. We certainly expect to require further investment in the future and would hope to do that by returning to our crowdfunding supporters.
#37: What's your business plan and can I get a copy of it?
Yes you can download a non-confidential version of it once you register to invest at https://reminova.sharein.com, in both PowerPoint form and a document.
#39: What are you valuing your company at?
We are valuing our company at £4M prior to crowdfunding.
#40: How did you reach your valuation?
We undertook extensive research on the UK and US valuations for early-stage companies with unique, disruptive technology, granted patents, and global opportunities in well-developed billion dollar markets.
#44: What return can I expect on my investment and what are the risks?
Investment, whether in new or existing businesses, carries high risks as well as the possibility of high
rewards. It is consequently very speculative. As an investor, you should be aware that no established
market exists for the trading of shares in private companies. There could be difficulty in selling such investments at a reasonable price and, in some circumstances; it may be difficult to sell them at any price.
#45: Could I lose more money than the amount invested?
You can lose the money you invested but nothing more.
#46: What are the tax breaks?
In the UK, there are some very generous tax breaks to encourage investment in early stage companies.
The schemes are referred to as the Seed Enterprise Investment Scheme (SEIS) and the Enterprise investment Scheme (EIS). Whether an individual’s investment qualifies for either is dependent on a number of factors relating to the investment and the individual.
ShareIn also has a blog post giving examples of the benefits.
#47: Will people be able to see if I invested?
No. The investment remains private between you and Reminova. We at Reminova will know your name so we can issue your share certificate and add you to our register of members.
#48: When does the money get taken?
When you hit the "invest now" button you get directed to set up an account with GoCardless. You then complete your bank details and authorise a one-off direct debit payment. Although direct debits are more commonly used for regular payments - this authorisation is a one-off and you are not authorising regular payments.
GoCardless is used by several other members of the UK Crowdfunding Association as it offers the best solution for crowdfunding. No money gets taken unless a company hits its target, and therefore no body is sitting holding your money during a pitch.
The money will only be taken from your account when the investee company pitch successfully closes.
In the US
North Capital Private Securities Corporation (NCPS) is a registered broker-dealer and a member of FINRA/SIPC and they are handling US investments. NCPS ensure the appropriateness of investors, undertake identity checks and process the transfer of money into an ESCROW account.
#49: Can I cancel my investment offer?
You can cancel your investment offer at any point before a pitch closes by logging into your account and cancelling the investment under Your Account/Your Pledges.
#51: I want to help Reminova accelerate their development – can I volunteer for clinical studies?
Clinical studies are carefully controlled and planned. We would be very pleased to discuss with dentists and clinicians about getting involved in Reminova’s studies. Identifying suitable individuals for involvement in studies would happen at a later stage of planning.
#52: I really want to be involved in helping with the development of this technology – how can I help now?
Participate in our crowdfund and/or mention our crowdfunding to your circle of friends and colleagues. If you know any dentists, investors, or journalists be sure to let them know too.
You can also follow us on Twitter @ReminovaLtd and re-tweet our story to help spread the word. And “like us” if you see our story being covered on social media.
#53: Are there any job opportunities at Reminova?
We will be expanding our company moving forward. We are interested to hear from world-class individuals with the appropriate experience, past achievement and ambition.
#54: What is Reminova?
- We are a spin-out from King’s College London, the 16th top-rated University in the world in 2014.
- Reminova has an exclusive IP license from King’s College London for the global commercialisation of EAER.
- Our IP portfolio currently includes 17 patent and patent applications as well as confidential know-how. King’s College London is a Reminova shareholder (managing all IPR on behalf of the universities involved in the research).
- We formed in 2014 with two aims: to enhance global dental health and well-being, and commercialise our EAER technology in professional dentistry. We are creating a world-class oral healthcare company.
- Our management team includes some of the world’s leading experts in this field.
- We are based in Perth, Scotland.
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