22/11/2010 The London Stock Exchange welcomes 3D Diagnostic Imaging plc to AIM
The London Stock Exchange today welcomed the admission of 3D Diagnostic Imaging to trading on AIM. 3D Diagnostic Imaging owns the protected rights to a technology platform with a number of significant potential commercial applications. The Group’s subsidiary, CarieScan Ltd has launched the Company’s first commercial product, the CarieScan PRO (“PRO”), an easy to use, highly accurate handheld device for the early detection and monitoring of dental caries (tooth decay). Early detection of hidden tooth decay enables remedial treatment to be undertaken to reverse the damage to affected teeth and can thus avoid the need for fillings. The 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, malignant melanomas, the state of health monitoring of battery systems for electric vehicles or early detection of corrosion within building materials.
3D raised £2.71million (before expenses) by way of a placing of 45,248,318 Ordinary Placing Shares at 6 pence per share with existing and new investors. The market capitalisation of 3D Diagnostic Imaging at the Placing Price is £10.23 million.
On announcement of the Placing and Admission to AIM, James Noble, Chairman of 3D Diagnostic Imaging, commented: "3D has reached an exciting stage in its development where its strategic objectives can be more readily achieved by a listing on AIM, providing the Group with access to additional funding to achieve our growth aspirations.
“Having recently appointed Patterson Dental to distribute the CarieScan PRO in the USA and Canada, the proceeds of the placing enable us to scale-up manufacture of the PRO to target these substantial markets.”