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

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
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
Molecular Detection LinkedIn Company Profile
Social Media
Molecular Detection Company Twitter Account
Company News
Molecular Detection News
Facebook
Molecular Detection on Facebook
YouTube
Molecular Detection on YouTube

Management Team

Title
Name
Email & Social
Chief Executive Officer
Todd Wallach
  Todd Wallach LinkedIn Profile  Todd Wallach Twitter Account  Todd Wallach News  Todd Wallach on Facebook
Chief Financial Officer
Robert Citron
  Robert Citron LinkedIn Profile  Robert Citron Twitter Account  Robert Citron News  Robert Citron on Facebook
President
Aryeh Gassel
  Aryeh Gassel LinkedIn Profile  Aryeh Gassel Twitter Account  Aryeh Gassel News  Aryeh Gassel on Facebook
VP - Manufacturing
Fredi Kleinman
  Fredi Kleinman LinkedIn Profile  Fredi Kleinman Twitter Account  Fredi Kleinman News  Fredi Kleinman on Facebook
VP - Operations
David Wilson
  David Wilson LinkedIn Profile  David Wilson Twitter Account  David Wilson News  David Wilson on Facebook
VP - R & D
Tzvi Tzubery
  Tzvi Tzubery LinkedIn Profile  Tzvi Tzubery Twitter Account  Tzvi Tzubery News  Tzvi Tzubery on Facebook
VP - Regulatory Affairs
Avraham Harris
  Avraham Harris LinkedIn Profile  Avraham Harris Twitter Account  Avraham Harris News  Avraham Harris on Facebook


 

 

Browse more venture capital transactions:

Prev: 4/13/2012: Altruik venture capital transaction
Next: 4/13/2012: Format Dynamics venture capital transaction

 

Share this article

 


Where The Data Comes From

We do our best to document tech company VC transactions. VC transactions reported here come from news reports and company announcements. The information comes to us via our partnership with VentureDeal.com, an affiliated venture.

 


Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary