3D, a holding company whose wholly owned subsidiary, CarieScan Limited (“CarieScan” and together “the Group”), is a leading producer of handheld devices for the early detection and monitoring of tooth decay, today announces its maiden preliminary results for the period ended 30 June 2009.
Subsequent to the period end the Company has agreed in principle a private placement for new shares with existing shareholders, amounting to a gross sum of £750,000. The Company anticipates announcing the successful completion of the Placing immediately post release of the attached unaudited preliminary results. The Directors intend that the net proceeds from the Placing will be applied to cover the costs of producing stock for resale, to fund ongoing design development of the PRO sensors, for marketing support and for general working capital purposes.
Highlights
• Successfully joined the PLUS-quoted market in April 2009, raising £2m from investors
• Lead product CarieScan PRO dental caries detection device already in receipt of CE Mark approval and an application for FDA 510K approval has been made
• First distribution deal agreed in the UK with Clark Dental over 3 years
• Initial sales of CarieScan PRO achieved
• Discussions with a number of international distributors ongoing
• CarieScan addresses the growing global trend towards preventive dental care with significant benefits to patients and dentists alike
• Confident outlook for the coming year
James Noble, Non-executive Chairman of 3D Diagnostic Imaging said: “2009 has been an excellent year for the Company. We have completed two significant fundraisings, achieved a PLUS listing and created a high degree of interest among potential users of the CarieScan Pro. This has already resulted in a distribution agreement being signed for the UK. We are now focusing on securing FDA approval, which would open up the large US market to CarieScan and would provide a basis for securing a distribution partner there too. I look forward to reporting further progress throughout the rest of the year.”
The directors accept responsibility for the content of this announcement
