Two Connecticut dentists decided to make their jobs a littler easier by becoming inventors. Drs. William Hylton and George Discher are developing a new device to make the administration of antibiotics both faster and less expensive. The two dentists and their colleague Doug Hanlon formed Polybiotics in 2009 to develop a new handheld device for treating periodontal disease.
The Hamden, Conn.-based company drummed up $175,000 of a proposed $200,000 equity offering last week, according to a regulatory filing. The money will be used to develop a prototype intended to for clinical trials in addition to marketing materials, including a website, CFO Sean Cassidy told MassDevice.
According the SEC filing, the company has a total number of five investors. Cassidy said “most of the seed money has come from practicing dentists.”
The developers are also would-be end-users of the product, “so we know there’s a market,” Hylton told us.
By the third quarter of 2010, the company hopes to have initial clinical trials finished and an idea of appropriate pricing for the device, Cassidy added.
The product has a “low risk in terms of approval,” Cassidy said.