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Koite Health Oy

Anchor Investor

The Next Revolution in Oral Health

If you wish to invest more than EUR 50 000, you may contact Koite Health directly at

Marketing content

Key investment highlights

Lumoral® is a revolutionary treatment and solution to a major global health problem with bacteria-based oral illnesses

Scientifically proven and patent protected

Since the launch in 2020, more than 10,000 Lumorals have been sold, with more than 30,000 monthly treatments

Now entering European dental markets together with high-quality local distribution partners

Revenues will again double this year, and there is plenty of growth potential in the €31bn global home dental care market  

First name last name, position

“Koite Health was founded to respond to the growing need for new treatment solutions against bacteria-based dental illnesses. In the EU, 51% of adults suffer from various bacteria-based oral diseases and worldwide they impact more than one billion people.  

We launched Lumoral in 2020 and it is the first antibacterial photodynamic treatment for home use.  Three years later, Lumoral has more than 10,000 users and more than 30,000 treatments per month.  

This year Lumoral has been launched in Germany, Italy, Denmark, Great Britain, and there are several other new international markets on the way, including France, Poland, Portugal and the USA. 

We are now raising growth capital to support the international rollout of Lumoral and to support the continuing research and clinical studies for new treatment areas with the Lumoral technology” 

Sakari Nikinmaa, CEO, Co-Founder, Board Member

Investment information

Equity offering
Invested so far:
Equity offered:
4.76 – 13.04 %
Price per share:
min investment 10 shares
Number of existing shares:
Fully diluted shares:
Pre-money valuation:
Offered units:
Funding purpose:
Invesdor GmbH


Company profile

Koite Health was established in 2018 in Espoo, Finland and is a fast growing medical technology company.

The company was founded to respond to the growing need for new treatment solutions against dental bacterial infections.

PROBLEM: 95% of oral diseases are caused by harmful bacteria in dental plaque, a sticky film of bacteria that constantly forms on teeth. Unfortunately, daily brushing and flossing only remove about 50-65 % of dental plaque, which results in 80% of adults suffering from some level of gum disease at some point in their lives. The total cost to society is estimated at $470bn annually.

SOLUTION: Koite Health has developed and commercially launched Lumoral, which kills 99.99% of the harmful bacteria in the mouth.  The entire Lumoral treatment process can be done at home and takes less than 15 minutes.

Since the market entry in 2020, more than 10,000 Lumorals have been sold and Koite Health has doubled its revenues every year. The technology is patented and is based on strong scientific evidence and support.

Koite Health is now growing globally in the €31bn home dental care market and has this spring signed distribution and partnership agreements with the leading companies in Germany, Italy, UK and Denmark. Negotiations are also underway with France, Poland, and Portugal, and even the FDA process for entry into the US was initiated last year.


Lumoral is a revolutionary dental treatment method that is easy to use and brings professional level antibacterial treatment to your own home.  

The Lumoral treatment consists of two parts: Lumorinse mouth rinse (1 minute), followed by Lumoral mouth applicator (10 minutes). The whole treament is completely painless and can be done at home in less than 15 minutes. Afterwards you should brush your teeth carefully. Recommended use is twice a week for preventive treatment and daily use for medical treatment, for the period recommeded by your dental professional.


Lumoral is based on a patented combination of antibacterial blue light (aBL) and photodynamic therapy (aPDT).  In the process with aBL and aPDT, light activation causes the local release of heat and/or reactive oxygen, resulting in the inactivation of harmful bacteria. In aPDT an external photosensitizer and in the aBL bacteria internal molecules are activated.

Lumoral's dual-light method greatly enhances the antibacterial power of the treatment by providing bacteria external and internal antibacterial action simultaneously.

Lumoral is available through dentists, pharmacies and the webshop.

Lumoral has been registered as a medical device in the EU, UK and in Switzerland. 

Business model

Koite Health focuses on product development and the production of clinical proof for new treatment areas for the Lumoral method. Koite also handles the marketing and distribution of Lumoral products in our home markets Finland and Sweden. Products are marketed and promoted through dental professionals and directly to consumers. 


Outside Finland and Sweden, Lumoral will be marketed and distributed by local distribution partners, which already have existing workforce and networks to distribute oral care products to dental professionals and consumers. These carefully selected partners sign exclusive agreements on their market(s) and bear all the costs for the launch and promotions. All manufacturing has been outsourced. 


At each new market, Lumoral is first marketed and promoted through dental professionals and the scientific community/key opinion leaders. At a later stage there will also be some level of consumer marketing and campaigns. 


Koite Health earns revenues on the sales of Lumoral start-packages and recurring revenues on the sale of Lumorinse tablets, needed in the treatment. More information about the business model and the recurring revenue can be found in the Information Memorandum, included in the Documents section. 


Total cost of bacteria-related dental diseases is estimated to be $544b, of which $356b is direct and $187b is indirect costs. Periodontitis costs $54b in direct treatment costs and an additional $25b in indirect costs.

There is nothing similar to Lumoral on the market. Lumoral treatment vastly outperforms all current methods in terms of treatment efficiency, usability and cost-effectiveness.   

  • 80% of adult population has prevalence of gingivitis.
  • 50% of over 30 year old adults have some form of periodontal disease.
  • >20m dental implants placed per year and 20% of patients face some level of infection complications.
  • +1000m people suffer from severe gum disease (periodontitis).
  • > €8.4b addressable market for Lumoral in prevention and treatment of severe periodontal and peri-implant diseases.
  • €10b addressable: The market for Lumoral improvement of oral hygiene (electric toothbrush and mouthwash market).
  • No new solutions or innovations for oral hygiene and dental plaque control in the last 50 years.



first name last name, position

Tommi Pätilä

Chief Medical Officer, Co-Founder, Chairman of the Board

Tommi is a cardiac surgeon specialized in repairing the most difficult birth-defect malformed hearts and performing kidney, liver and heart transplantations in children. He has an outstanding scientific career. He has first-hand knowledge of systemic effects of mouth diseases, which was the early motivator when the development of Koite Dual-Light PDT originally began in the iDenta project at Aalto University. 


first name last name, position

Sakari Nikinmaa

CEO, Co-Founder, Board Member

Sakari has done research in the fields of microfluidics, virology, and bacteriology at Aalto University in Finland and San Francisco in Raul Andino laboratory. He has successfully generated and commercialized new technology for Finland as an innovation fellow in the first Biodesign Finland -project, as Lead engineer in the successful TUTL-project, as the CEO of Koite Health Oy. Sakari is an inventor in 5 patent applications.


first name last name, position

Timo Hildén

Senior Advisor, Board Member

Timo is a medical technology executive with experience ranging from the pharma industry to manufacturing and selling medical devices. Timo has an immense value growth track record in his 21 years as a VP/GM in Thermo Fisher Scientific and later in Revenio Group Oyj. In Timo, world-class medical industry know-how and connections combine into in-depth substance knowledge from the dental field as Timo also has a bachelor's degree in dentistry in addition to a Master's degree in business.

Distribution of company shares




1 Tommi Pätilä

103 062

23,66 %

2 Osimo Pte Ltd 90 477 20,77 %
3 Sakari Nikinmaa 84 177 19,33 %
4 Apteekkien Eläkekassa  28 794 6,61 %
5 Acme Investments Spf Sarl 28 793 6,61 %
6 Jeremy Lee-Barber 21 301 4,89 %
7 Chris Lee-Barber 13 585 3,12 %
8 Hippocras Ky 9 484 2,18 %
9 Schengen Investment 5 759 1,32 %
10 Rossipohja Sijoitus Oy 5 759 1,32 %
11 Other shareholders (15) 44 325 10,18 %
TOTAL 435 516 100 %

Use of funds

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Maximum Scenario

(€3,000,009.81 collected in the financing round)

  • Larger amount of growth capital would allow a more aggressive European growth strategy and faster development of new treatments
  • Support and accelerate the clinical research pipeline for several new applications
  • Finalize the Lumoral Mobile App and Lumoral 2.0 for 2024 launch
  • Participate in all important global dental events
  • Continue the processes for US and Asian market partners  

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Minimum Scenario

(Minimum funding of €1,000,033.89 collected in the financing round)

  • Minimum amount would be used to support the current European expansion and the already started clinical studies
  • Invest in the Finnish & Swedish market B2B (dentists) and B2C (consumers) activities and promotion  
  • Support the German, Italian and UK market entries in 2023-2024  
  • Finalize the upcoming market entries to France and many other markets

Financial figures & growth

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Koite's valuation (post-money) in the previous financing round two years ago was 15 million euros, and since then the company has progressed significantly both scientifically and commercially: 

  • Monthly sales have increased 4-5-fold since last year
  • Lumoral is now been recommended by the Finnish Dental Hygienist Association 
  • 3 clinical studies on the use of Lumoral have been completed and published, and there are a dozen ongoing and planned studies 
  • Lumoral's monthly subscription model has been a great success and more than 85% of those who joined last year are still subscribers 12 months later 
  • New international cooperation and distribution agreements have been signed for the markets of Germany, Italy, Denmark, and Great Britain, and negotiations are ongoing for France, Poland, and Portugal, for example. 
  • Foreign partnerships have gotten off to a great start, and the international academic/university interest in Lumoral has also been a very positive surprise.

In this round, we are looking for a pre-money valuation of €20,003,249.88.

More detailed information on the valuation of the company can be found in the information memorandum.

Exit scenarios

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Trade sale: Large international medical technology and healthcare companies are constantly looking for new innovations and innovative companies, and within the medical technology sector this is probably the most common path for exits. There are several global billion dollar companies within dental sector, especially within the dental implant segment. Koite Health has already had discussions with some global companies about a possible cooperation and about including Lumoral in their product offerings.

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IPO: A possible listing on the Helsinki Stock Exchange when the company has reached a sufficient size and profitability (from 2026 onwards).

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Private equity/Venture funds: Another exit path and buyer candidate group could be the specialized dental sector investment funds. Within the dental segment, those investment companies are mostly located in the USA, and we have already had discussions with 3 of them. The main focus of the US-based investment funds is on the US dental markets and the funds and the progress of our US plans and especially the FDA application are a key factor.


Investment related documents

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Update 19.10.2023

Q&A - Koite Health's answers to investors' questions

1. How will Koite Health monitor and evaluate the long-term impact of Lumoral on patients' oral health?

The therapeutic effects of Koite Health's treatment are being monitored in more than 15 ongoing clinical trials, with the longest treatment period now lasting six months. At six months, Lumoral treatment achieved healthy gums in 76% of chronic gingivitis patients compared to only about 30% of patients with the current best treatment. The six-month treatment results were therefore excellent. In addition to this, we are also collecting feedback from our customers who have reported cleaner teeth and less tartar build-up. We are closely monitoring patient feedback and experiences in our research and aftermarket monitoring, which will be used in the further development of the product.
2. Does the company have any plans to collaborate with dental chains or clinics?

We have already started collaborating with several dental clinics and chains. In Finland, Lumoral is usually recommended by dentists and sold through pharmacies/net shops, but several dentists have already sold dozens of units to clinics. Our partner clinics include Aqua Dental and Södertandläkarna in Sweden and in Finland Kotihammas, Kruunu Hammasklinikka, Hygga, Smilespa, Miunpaikka, Zahnaslääkärikeskus Jouheva, and several dentists at Oral and Mehiläinen dental clinics recommend Lumoral to their patients. Internationally, our partners in Germany have trained over 30% of all German oral hygienists, in Italy our partner is a highly respected dental implant provider and in Denmark our partner is a specialist dental surgery equipment distributor with a desire to bring Lumoral into local specialist dental care.
3. Does the company have any plans to collaborate with other oral health technology companies? Are there plans to partner with insurance companies?

We are also actively discussing with global dental companies and looking for collaboration opportunities, especially in the area of treatment monitoring and measuring treatment outcomes. We have already established excellent relationships with key players in this field. We have already been in discussions with several insurance companies and these discussions will progress further as more information from our ongoing studies becomes available, allowing for cost calculations of treatment effects.
4. Is it possible to publish Koite Health's September sales performance to support the investment decision?

Monthly sales vary by a few tens of thousands depending on the month in which retailer orders fall. Monthly sales for September were €113,000 and cumulative sales for 01-09/2023 reached €986,695. We expect Q4 to be the best in Koite Health Ltd's history and to reach our €1 500 000 turnover target for this year. The end of the year is historically good for Lumoral and Koite Health and our partners are investing heavily in increasing sales of the product in Europe.

Update 4.10.2023

Webinar recording and Q&A - Koite Health's answers to investors' questions

1. How does the method target only harmful bacteria?

With Lumoral, Lumorinse mouth rinse is mainly attached to the dental plaque and the Lumoral light applicator is used to direct the light onto the tooth surface. The antibacterial effect is thus focused on the tooth surface and the gum line where bacteria that cause dental disease can develop. Healthy bacteria elsewhere in the mouth do not receive antibacterial treatment and thus maintain the normal bacterial balance in the mouth.

2. What is the revenue stream from Lumorinse tablets?

The revenue stream from tablet sales was already €23,000 in August and is growing strongly as the Lumoral user base expands.

3. Is it possible that someone else will start selling tablets or a similar product at a lower price?

It is very difficult to bring a Lumoral-compatible mouthwash to the market because the product has to be clinically proven and registered as a medical device. Lumoral is protected by patents and trademarks, which prevents a competitor from bringing a clinically equivalent product to market. Lumoral and Lumorinse trademark protection also prevents a competitor from mentioning Lumoral and Lumorinse in their product and marketing.

4. Dental caries (tooth decay) is a disease caused by microbial dysbiosis, like periodontitis, and globally even more common than periodontitis. You say that Lumoral also has beneficial effects in the treatment of caries. Is there any research data to support this claim?

Lumoral treatment is highly effective against the caries-causing bacteria Streptococcus mutans. This antibacterial efficacy has been verified by thousands of bacteriological tests and the results have been published in the peer-reviewed scientific journal Plos One. In clinical trials, we have also found that Lumoral treatment reduces the amount of dental plaque and the amount of cariogenic bacteria present in dental plaque.

Update 26.9.2023

Q&A - Koite Health's answers to investors' questions

1. Does Lumoral or the mouth rinse Lumorinse attack tooth enamel or does it rather strengthen it?

Lumoral mouth rinse does not attack or damage the enamel. Lumoral protects the enamel by removing acid-producing bacteria from the surface of the enamel. Acid-producing bacteria are the main contributors of tooth decay which is why Lumoral is so good for in preventing tooth decay development.


2. What are the ingredients of the Lumorinse mouth rinse? Does it contain fluoride?

Mannitol, xylitol, ascorbic acid, sodium bicarbonate, polyvidone, indocyanine green, magnesium stearate, silicon dioxide, peppermint aroma. The key ingredient is the Indocyanine green which a harmless color used widely in medical diagnostics and treatments.

3. How are sales currently distributed among the different countries?

In the first 8 months of 2023, Finland and Sweden accounted for 81.5% of Lumoral sales. The new markets and distribution agreements which were signed in during the spring (Germany, Italy, UK, Denmark) are now starting to kick in and in August the European sales accounted already for 32% of sales.


4. On there is talk of whitening - is this like bleaching or in any way harmful to teeth, enamel etc.? If not, why or what would be the difference to whitening by bleaching?

Lumoral's whitening effect is based on removing staining and coloring from the surface of the teeth. This is based on the enhanced removal of dental plaque (bacteria) from the surface of the teeth. This effect is beneficial for teeth, enamel and gums.


5. Are Lumoral's patents such that competitors cannot produce a similar product?

Lumoral is protected by several patents. Two patents protect the Lumoral product and method itself, two other patents protect the future development solutions of the Lumoral device, and two other patents protect the expansion of Lumoral technology to new indications of use, such as the treatment of skin bacterial infections.

Update 15.9.2023

August sales figures for Lumoral

August sales were €150 780, which was clearly above the 8-month average of €110k 460. Growth came from home markets and especially from European partners. In August, European partner sales accounted already for 32% of month’s sales.

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