news

  • 28 June 2012
    Sonendo Agrees To Terms For Up To $20 Million In Financing

    Proceeds To Advance Development and Commercialize Treatment for Root Canal Therapy

    Sonendo, Inc. (formerly known as Dentatek Corporation), a privately-held company developing disruptive technologies to transform endodontic therapy, announced today that it has agreed to terms for a $20 million equity financing of which $9.2 million has been invested in an initial closing.  The round was led by OrbiMed Advisors, LLC, with NeoMed Management joining existing investors, including Fjord Ventures Management.  The proceeds from the financing will be used to finalize technology development, fund clinical studies and commercialize Sonendo's first endotherapy system.  Vince Burgess of OrbiMed and Erik Amble of NeoMed have joined the company's board of directors. 

    Vince Burgess, Venture Partner at OrbiMed Advisors, noted, "We look to invest in companies, like Sonendo, that have disruptive technologies in large markets.  In the United States alone there are more than 15 million root canal procedures performed every year, nearly all of which utilize simple metal files and too often yield imperfect results.  We believe Sonendo's proprietary technology, once fully developed, has the potential to change the standard of care for root canal procedures."

    Bjarne Bergheim, Chief Executive Officer of Sonendo, said, "We are encouraged that this group of premier investors has recognized the potential of Sonendo to transform root canal therapy.  This investment will help us achieve our goal of improving traditional endodontic procedures with a focus on clinical outcomes and patient comfort."