Alachua oral hygiene company wants to get in your toothpaste
5/28/2007A local company makes an ingredient for
toothpaste and other dental products that mimics and amplifies
the body's own mechanism for restoring teeth and gums.
NovaMin Technology Inc. is talking with 35 companies around
the world, including most of the major brands of toothpaste, and
it hopes the ingredient will become the next standard in a $30
billion industry.
Randy Scott, president and CEO, said NovaMin is one of a
handful of companies marketing calcium phosphate formulas.
"The industry has acknowledged that they're going to be in
every tube of toothpaste in the not-too-distant future. Our task
is to prove that we're the best one so that we can become the
technology standard," he said.
The stakes are huge, Scott said - about a $1 billion slice of
the pie.
The calcium sodium phosphosilicate addresses a wide range of
dental problems such as reversing early tooth decay, eliminating
hot and cold sensitivity, killing more of the bacteria that
cause gum disease than regular toothpaste, and strengthening and
whitening hard tissue.
Where fluoride builds a shell over a cavity, NovaMin rebuilds
the tooth from the bottom up, Scott said.
"For us, the big break would be when one of the
household-name companies launches a NovaMin-contained paste
because that will create the pressure for everyone to follow
suit, the same way that when Diet Coke adopted NutraSweet,
within six months every other diet soda had NutraSweet in it,"
he said.
If they win the sweepstakes, the "Powered by NovaMin" label
could be ubiquitous in oral hygiene aisles, dentists' offices
and pharmacies.
"Eventually we'd like there to be Colgate with NovaMin, Crest
with NovaMin, chewing gum with NovaMin, whatever," Scott said.
Despite the uncertainty, he said competition was the best
thing that ever happened to his company.
Their pitch was going nowhere, in part because it sounded too
good to be true.
"Then other people, competitors came along. All of the sudden
there's three or four people telling the story and that
automatically adds credibility. It took on a little bit of life
of its own. Within the last year, the question in the industry
has become not do these things make sense, it's which one of
these is best."
In the meantime, NovaMin is already in Butler NuCare, a
dental hygienist tooth polish; a few prescription products for
tooth sensitivity; Dr. Collins Restore toothpaste; a toothpaste
in China and a whitener in Greece.
The company also sells its own toothpaste, Oravive, on the
Web. Scott said the company made more than $2 million in sales
last year, will do substantially more this year and will
probably make its first profit next year.
The company started with a dozen employees three and a half
years ago and has 20 now.
NovaMin will soon move from its current location in Progress
Corporate Park in Alachua, where it has people in six different
rooms, into a brand new building in the park with 8,000
contiguous square feet of its own.
The company has its roots in a bone regeneration compound
invented by Dr. Larry Hench at the University of Florida in the
1970s.
Two dentists at the University of Maryland invented the
dental application with research funded by USBiomaterials, a
former Alachua County company now in Jacksonville.
Scott grew up in Florida and Georgia. After earning a degree
in management science from Georgia Tech, he went to work for
Proctor & Gamble in Cincinnati, marketing Folger's Coffee.
From there, he managed a food and beverage startup and was a
vice president of marketing for Easy Spirit shoes.
His family wanted to get back to Florida and a contact from
the shoe business then at USBiomaterials helped him land the job
in Gainesville.
Scott and NovaMin product spun off from USBiomaterials in
January 2004.
"It was a complete gamble," he said. "We left with enough
money to operate for a few months and it was kind of 'eat what
we kill.'"
Scott said NovaMin was fortunate early on to land additional
investments and a couple business deals, "and it's been a
rollercoaster ride ever since. One week you're not sure you're
going to make it and the next week you think you're going to
conquer the world."
In June 2006, the publication TechJournal South named NovaMin
second in its Biotech 15 "brightest future stars" in biotech in
the Southeast.
Scott said the company is now in the transition from the
research phase to the commercial phase. "Now we finally seem to
be at the tipping point."
"Probably nobody would ever start a business if they knew how
long and how hard it would be," he said. "We all suffer from a
little over optimism when we do it." |