Lumendo scores oversubscribed investment round

Lumendo announces  the oversubscription of their CHF 2.54M financing round communicated on January 7th, 2022. In addition to the amount aimed for, the company raised another CHF 940K  more than anticipated, reaching an overall investment of CHF 3.5M.

The financing round was led by Dominik Lysek, PhD, partner at US-based Revere Partners. Co-investors were Zürich Cantonal Bank (ZKB), N&V Capital, and Business Angels Switzerland. Lumendo CEO, Andreas Schmocker, PhD, commented: “This oversubscription is a major success for Lumendo, and I am very grateful for the trust received by the investor community. In addition to allowing us to translate our prototypes into a clinical workflow, the additional financing enables us to get our endodontic product line substantially closer to market approval than initially planned with this seed financing round”.

Reto Näscher from N&V Capital added: “We are delighted to join Lumendo’s investor team. I strongly believe in the disruptive potential of Lumendo‘s approach to root canal treatment. As an investor and patient, I believe it is of upmost importance to re-think traditional treatment options. Lumendo’s products do not only have the potential to speed up procedures, but also offer minimally invasive and more cost-efficient root canal treatments.”

Disrupting the field of endodontics

Incorporated in Switzerland in 2018 as Spin-off of the two Swiss Federal Institutes of Technology – École Polytechnique Fédéral de Lausanne (EPFL) and Eidgenössische Technische Hochschule Zürich (ETH) – Lumendo is a well-recognized upcoming disruptor in the field of endodontics. Focusing on product excellence and a strong innovation stream, the goal of Lumendo is to develop easy-to-apply, reliable, and novel products to treat unsolved medical challenges. Root canal treatments are one of the most difficult treatments for dentists, traditionally with very low success rates between 46-91%1. With more than 60 million annual treatments worldwide, these failures lead to a substantial increase in health care costs.

One major cause of the treatment failure can be traced back to the use of endodontic files that may result in root or instrument fractures. Another issue is the inefficient identification and disinfection of the often very complex root canal anatomy. Finally, a major problem is the obturation of these geometrically complex morphologies with viscous or rubber-like materials that are difficult to be distributed adequately in narrow canals, leading to voids that can be reinfected.

The goal of Lumendo’s technology platform is to offer better treatment options to dentists and their patients. The company’s first products are planned to be launched in 2024.

(Press release)