The Colorado Institute for Drug, Device and Diagnostic Development (CID4) has selected Denver-based Sapphire Technology, LLC, to receive funding and management assistance.
Aurora, CO, October 7, 2014 – The Colorado Institute for Drug, Device and Diagnostic Development (CID4), is awarding $200,000 to Denver-based Sapphire Technology, LLC, for funding and management assistance in developing its proprietary dental instruments. The announcement is made by Kevin M. Smith, CID4 President & CEO, who says, “Sapphire Technology is a development-stage dental device company, advancing its proprietary sapphire-tipped instruments for use in dental procedures involving photo-cured resin composite filling and restoration materials.”
As part of CID4’s management support, Jonathan Thorne, a member of the CID4 Board for the past two years, will join Sapphire Technology’s Founder Alan Wong, DDS, and CEO H. Steven Rosen on the Company’s Board of Managers.
“We are extremely excited about our investment and involvement in Sapphire Technology,” Smith said. “Not only will Sapphire Technology’s proprietary devices address a recognized problem in the dental instrument market as the movement toward composite filling and restoration materials continues to grow, but Sapphire Technology’s use of Colorado-based contract manufacturers should contribute significantly to the advancement of the State’s life science industry.”
Unlike current dental filling instruments, which typically utilize metal for their tips, Sapphire Technology’s SGS® instrument line will employ highly polished and optically clear sapphire tips instead. The use of sapphire is intended to significantly reduce composite pullback as experienced with current metal instruments, which in turn is expected to provide a reduction of voids in the composite material and improve the bond between the filling material and the patient’s natural tooth. Voids and poor bonds in dental fillings can trap bacteria, provide opportunity for further tooth decay, and provide micro-leakage pathways for post-filling hot and cold sensitivity issues.
“We are very pleased that such a high quality investor as CID4 has shown confidence in our future prospects. The money and resources provided by CID4 will enable us to move into commercial distribution with our initial line of the SGS® dental instruments,” Dr. Wong said.
Further, Sapphire Technology’s CEO Rosen said: “Beyond CID4’s financial resources, we are already benefitting from the guidance provided by Jonathan Thorne. His years of entrepreneurial experience developing healthcare devices will greatly enhance our ability to grow Sapphire into a significant presence in the Colorado Med Tech sector.”
About Sapphire Technology
Founded in 2010, Denver CO-based Sapphire Technology, LLC is a company focusing on products to improve the practice of dentistry. For more information, visit http://sapphire-technology.com.
About the Colorado Institute for Drug, Device and Diagnostic Development
Founded in 2009, the Colorado Institute for Drug, Device and Diagnostic Development (CID4) is a 501(c)(3) not-for-profit charitable organization whose mission is to advance the Colorado bioscience ecosystem through company creation and job growth. Active business management and capital work in tandem to help bridge the gap between discovery and product development. CID4 works to identify, fund and actively manage emerging life science technologies. This aim is achieved via an ongoing technology solicitation process augmented by additional deal flow sourcing through networked relationships. Active due diligence is provided by CID4 management in consultation with members of the CID4 Technical and Business Advisory Committee. For more information, visit http://CID4.com.
Kevin M. Smith, President & CEO CID4, http://CID4.com - email@example.com, (720) 859-4047
Maggie Chamberlin Holben, APR, http://www.absolutelypr.com - firstname.lastname@example.org, (303) 984-9801 or (303) 669-3558