Molecular Detection (MDI) produces Detect-Ready® molecular diagnostic tests intended to increase the speed and accuracy of infectious disease diagnosis. Its Detect-Ready MRSA Panel is CE-marked for MRSA and MSSA detection and is commercially available across multiple European countries, Australia and Israel. The MRSA Panel is in late-stage development in the US. MDI plans to use new capital to further advance its MRSA Panel and to develop molecular diagnostic panels for sepsis and gastrointestinal (GI) infections in hospitalized patients. The company is led by CEO and chairman Todd Wallach and maintains offices in Wayne, PA, Tunbridge Wells (UK) and Jerusalem (Israel). Financially, MDI completed a $1.9M Series B recapitalization and announced an earlier $1.5M funding round this year. Molecular Detection develops Detect-Ready tests designed to increase the speed and accuracy of infectious disease diagnosis. Its core product is a ready-to-use, rapid detection panel for hospital-based MRSA screening, which is commercially available in the EU, Australia and the Middle East. The company’s Detect-Ready kits use a stabilization technology that preserves reagent integrity for room-temperature shipping and storage; a new European patent for that technology was recently allowed. MDI is using new capital to advance molecular diagnostic panels for the detection of sepsis and gastrointestinal diseases. The company completed a $1.5M financing to support those development efforts. Led by CEO and chairman Todd Wallach, MDI is based in Wayne, PA and also has offices in Tunbridge Wells, UK and Jerusalem, Israel. Molecular Detection develops screening assays aimed at speeding and improving infectious disease diagnosis. The company recently launched its first product, the Detect-Ready screening assay for rapid detection of methicillin-resistant Staphylococcus aureus (MRSA). The Detect-Ready MRSA assay has received CE mark certification and is currently available in Germany, the UK, Ireland, Switzerland and Austria, with additional launches expected in coming months. The company said new funds will be used to accelerate commercialization of its pipeline of novel infectious disease diagnostics. Financially, Molecular Detection held the first $1.4M close of a new financing as part of a follow-on to its $3.3M Series C round announced in late 2009. The company is based in Wayne, PA and also operates offices in Tunbridge Wells, UK and Jerusalem, Israel. Molecular Detection Inc. develops Detect-Ready assays intended to increase the speed and accuracy of infectious disease diagnosis. The company is preparing to launch its first product, a Detect-Ready assay for rapid detection of methicillin-resistant Staphylococcus aureus (MRSA). Management describes the MRSA assay as offering an unmatched combination of accuracy, speed, flexibility and cost-effectiveness. The company says the MRSA screening market is expected to exceed $1 billion in annual revenues in the next few years. The Series C financing provides capital to launch the MRSA assay in Europe and the U.S. and to expand MDI's pipeline of molecular diagnostic tests. The company is based in Wayne, PA and Jerusalem, Israel.

Total raised

$8M

Funding rounds

4

Latest round

Series B

Latest activity

Apr 2012