GreenMark’s dental treatments will be developed in partnership with University of Michigan, which has backed the company’s two-tranche seed round through its Mints Fund.
GreenMark Biomedical, a US-based dental treatment technology developer partly based on University of Michigan research, has closed its $1.2m seed round with a $670,000 second tranche backed by the university’s Michigan Investment in New Technology Startups (Mints) fund.
The second tranche also includes contributions from Red Cedar Ventures, a $5m VC subsidiary of Michigan State University’s nonprofit affiliate Michigan State University Foundation, and from state government-backed agency Invest Michigan.
Western Michigan University’s Biosciences Research & Commercialization Center took part in GreenMark’s initial seed tranche, as did economic development unit Invest Detroit Ventures and syndicate Blue Water Angels.
Founded in 2016, GreenMark Biomedical is working on nanoparticle-based dentistry products that help identify and treat small holes in tooth enamel before they develop into serious cavities.
The minimally-invasive products would apply bioresorbable starch-based nano-biopolymers to the teeth which dissolve into nontoxic adhesive matter by the end of the patient’s dental examination.
The funding will enable GreenMark Biomedical to continue the development and commercialisation of its products in collaboration with unnamed researchers at University of Michigan.
In addition to dental treatment, GreenMark Biomedical also plans to develop starch biopolymers for medical applications including the administration of cancer drugs.
Rafael Castilla, director of investments and structuring at the University of Michigan Investment Office, said: “Our Mints program is pleased to join the shareholders of GreenMark Biomedical, a company with many close ties to University of Michigan.
“We are excited by the potential of the technology as well as with GreenMark’s multi-disciplinary team of recognised experts in medicine, dentistry, biomaterials, manufacturing, finance and business development.”
Charlie Moret, chairman and CEO of Invest Michigan, added: “These targeted diagnostic and treatment products can have major implications for dental patients by preventing cavity formation at the onset through identification and non-surgical treatment, reducing the need for invasive and costly dental procedures.”
