Law firm advises Edinburgh-based biotech on multi-million-pound investment to support expansion into global markets

01/05/2024
Katie Carter, from Burges Salmon's Corporate and M&A team

INDEPENDENT UK law firm Burges Salmon has advised Calcivis, a Scottish biotech that aims to revolutionise early-intervention diagnostics in dentistry, on its £5 million investment. The funding was provided by the Scottish National Investment Bank and IFS Maven Equity Finance, which is managed by Maven Capital Partners and is part of the Investment Fund for Scotland, delivered by the British Business Bank.

The investment will support the company as it brings its flagship dental technology to the US market after the US regulator, the Food and Drug Administration (FDA), granted premarket approval. This is the most stringent regulatory review of the safety and effectiveness of medical devices and Calcivis is the first Scottish medical device to secure FDA certification. The Edinburgh-based biotech also anticipates a wider roll out across the UK and other European markets. The investment is expected to see Scotland benefit from the potential returns of a multi-market launch with a product that contributes to meeting urgent needs at a time when millions across the country struggle to access dentistry health.

The Burges Salmon team advising Calcivis was led by senior associate Katie Carter, partner Danny Lee, solicitor Will Penfold and trainee solicitor Anousha Al-Masoud from the firm’s Corporate and M&A team. The firm initially advised Calcivis on its equity investment by Archangels in 2021 and again on a follow on investment in 2022.

Katie Carter commented: “Scotland is home to many biotech companies whose cutting-edge technologies are set to revolutionise healthcare and Calcivis is a prime example of that. We’re thrilled to have worked once again with the company and to see it grow from strength to strength with this latest investment round supporting its ambitious expansion plans in the UK, Europe and the US, the largest market for medical technology.”

Adam Christie, CEO of Calcivis, added: “Early diagnosis and treatment of tooth decay is essential, allowing patients to reverse the damage to their teeth before it is too late. This investment will enable us to launch our innovative product to global markets – first in the US and eventually in the UK – leading to faster diagnoses and early intervention treatments. This technology has the potential to revolutionise prevention in oral health care, with cavities impacting more than two billion people globally, according to the World Health Organisation. We look forward to seeing where this product will go with the support of both our existing and most recent investors the Scottish National Investment Bank and Maven Capital Partners. It’s always a pleasure working with the Burges Salmon team and we’re grateful for their excellent advice throughout the whole process. The firm really understands what we need and how we like to work, and they adeptly guide us through investment process complexities with ease.”

Burges Salmon is known for advising many of Scotland’s leading biotech companies and supporting them as they scale up their operations. Notably, the firm recently advised cancer therapeutics company Cumulus Oncology on a £9 million funding package and life sciences company Cytomos on a £4 million investment to support the development of cell analysis solutions for the biopharma industry.

Burges Salmon celebrates its fifth anniversary in Edinburgh this year where the firm has developed a strong presence and a growing reputation as a market leading corporate practice acting on high value and complex transactions and supporting fast growing companies. The firm has a strong track record working with pharmaceuticals, healthcare, life sciences and biotech companies across the UK.

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