Tech Company Financing Transactions
Molecular Detection Funding Round
Molecular Detection, based in Wayne, secured $1.9 million from Elm Street Ventures, MentorTech Ventures and Mid-Atlantic Angel Group.
Transaction Overview
Company Name
Announced On
4/13/2012
Transaction Type
Venture Equity
Amount
$1,900,000
Round
Series B
Proceeds Purpose
The Series B recapitalization financing is in addition to a $1.5 million funding round announced by MDI earlier this year. The funds will be used primarily to further advance MDI's Detect-Ready MRSA Panel and to develop MDI's new molecular diagnostic panels for the detection of sepsis and gastrointestinal (GI) infections in hospitalized patients.
Company Information
Company Status
Private & Independent
Industry
Biopharmaceutical
Mailing Address
400 East Lancaster Ave. 300
Wayne, PA 19087
USA
Wayne, PA 19087
USA
Phone
Website
Email Address
Overview
Molecular Detection Inc. (MDI) is developing and commercializing a portfolio of sample-to-answer Detect-Ready molecular diagnostic tests for the rapid detection of infectious diseases.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Todd Wallach
Chief Financial Officer
Robert Citron
President
Aryeh Gassel
VP - Manufacturing
Fredi Kleinman
VP - Operations
David Wilson
VP - R & D
Tzvi Tzubery
VP - Regulatory Affairs
Avraham Harris
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