3D Diagnostic Imaging, currently quoted on the PLUS market, will transfer to AIM at the end of this month. 3D Diagnostic Imaging plc (www.3ddiagnosticimaging.com) was incorporated in the Isle of Man on 17 June 2008, and has a single wholly owned trading subsidiary, CarieScan, incorporated in Scotland and based in Dundee. 3D has conditionally raised £2.71 million (before expenses) by way of a placing of 45,248,318 shares at 6p per share with existing and new investors, giving the company a market capitalisation of £10.23 million. 3D is currently a PLUS-quoted company; subject to an EGM, trading on PLUS will cease at the close of business on 19 November and trading of the company’s shares on AIM will commence on 22 November.
3D Diagnostic Imaging was formed to acquire the assets of IDMoS, a spinout from the University of Dundee, which had been placed in administration in April 2007. 3D’s subsidiary CarieScan (www.cariescan.com) has developed and taken to market the CarieScan PRO, a hand-held battery operated device, which enables dentists to measure and monitor the effect of treatment regimes to show decay advance or regression, and optimise individual treatments for different patients.
The device was developed by IDMoS, which raised significant capital and floated on AIM, but due to the prohibitive conditions of a commercial agreement which it was unable to renegotiate was forced into administration. The funds from the placing will allow CarieScan to expand its operations and to invest, both in additional tooling to increase its manufacturing capacity, and in the process of designing down the cost of manufacturing PRO sensors. The company’s primary focus is on achieving wide-scale adoption of the PRO
by dental practitioners in the USA and in Canada, and it has already partnered with leading dental distributor, Patterson Dental, to achieve adoption in these markets, with first product having been shipped.
The 3D Group’s ultimate objective is to develop, market and commercialise a series of products based on its technology with a range of different applications, such as the early detection of osteoporosis, or of malignant melanomas, the state of health monitoring of battery systems for electric vehicles, or early detection of corrosion within building materials.