Oxford Finance Provides Sonendo $10MM Venture Debt Facility
Sonendo announced it closed a $10 million venture debt agreement with Oxford Finance. The debt facility, in combination with the $27 million venture funding that closed in the summer of 2013, will be used to commercialize Sonendo’s Multisonic Ultracleaning System, which is set to debut at the American Association of Endodontists annual meeting.
“Sonendo is introducing a system that will change the way root canal therapy is performed,” said Christopher A. Herr, managing director for Oxford Finance. “The company’s ground-breaking technology platform, while initially focused on endodontics, may also have broader applications in dentistry and medicine. Oxford is pleased to be able to provide capital to support the roll out of Sonendo’s Multisonic Ultracleaning System, as well as its overall strategy.”
“We are very pleased to have added Oxford as one of our investment partners, and fortunate to have attracted top tier investors that share our vision of transforming endodontic therapy,” commented Bjarne Bergheim, president and CEO of Sonendo. “The company is well positioned as we prepare for commercialization and we are excited about the debut of our Multisonic Ultracleaning System to the endodontic community at the AAE at the end of April. In addition to delivering ultraclean root canal therapy for their patients, clinicians will be able to capitalize on the predictability of the Sonendo procedure to enhance their office productivity and efficiency.”
Sonendo is a privately held, venture-backed company developing technologies to transform traditional endodontic therapy.