AAO Supports Orthodontic Innovation with Start-Up Investment
The AAO is making good on its strategy to support the orthodontic profession by investing in cutting edge technology via its newly formed Innovation and Transformation Fund.
The fund – which can be used to develop new products and services for orthodontists and patients by building, partnering or investing – made its first move by investing $100,000 in PhotoDynamic, a Halifax-based start-up that has developed a patented light-activated antimicrobial oral hygiene technology designed to kill bacteria causing plaque, the leading cause of white spot lesions.
“While applicable to anyone’s hygiene regimen, our technology solves a particular problem for orthodontists and their patients who can face real difficulties maintaining good oral hygiene during treatment,” said Martin Greenwood, CEO of PhotoDynamic. Scheduled to launch this fall, the company’s daily oral hygiene technology combines a natural botanical foam and a light-emitting medical device. Greenwood explains that, “Receiving the AAO investment provides a great opportunity to further connect with the orthodontic community and further validate the potential patient impact of our technology.”
Discovered by Dr. Sherri McFarland, a world-renowned expert on photo activated chemistry, the technology completed successful clinical trials in 2018.
“The AAO thoroughly vetted PhotoDynamic. We were impressed with the clinical results and the potential to improve orthodontic patient care,” said Dr. Gary O. Inman, AAO President. “We’re delighted to have Martin and the PhotoDynamic team as our first investment.”
“PhotoDynamic’s ground-breaking product is a perfect example of the power of natural compounds to create truly disruptive market opportunities,” says Shelley King, CEO of Natural Products Canada. Joining the PhotoDynamic board will be Stephen Ball, Regional Director (Atlantic) of Natural Products Canada, along with Ron Keefe, ICP partner and former CEO of Biovectra, and Dr. Michael Sherman an Orthodontist and Trustee with the AAO.
Greenwood adds, “We’ve gathered a group of strategic investors that can assist with our supply and sourcing on Prince Edward Island, elevate our expertise in developing leading edge natural products, and strengthen connections with our core orthodontic market; we couldn’t be happier with this investment round.”
In addition to the AAO and several dental angel investors, the $2.3M financing round includes major investors Island Capital Partners and Natural Products Canada. Island Capital Partners is a Prince Edward Island based early stage venture fund supporting local innovation while Natural Products Canada is a national not-for-profit corporation with an investment fund dedicated to naturally derived products, technologies and services.
Legal disclaimer – Individuals and third-parties should not rely on the AAO’s actions or representations regarding PhotoDynamic in making their own financial or practice decisions. The foregoing press release is for informational purposes is only, intended to be an update, and is not and should not be considered financial, investment, tax or any other advice or guarantees of any kind. The AAO will not be liable for loss or damage of any kind, including lost profits (whether or not the parties have been advised of such loss or damage) arising in any way with individual’s or third-parties’ acts or omissions based on the foregoing AAO update.