Rapid MRSA test firm secures $3.3m; hires new CEO
This article was originally published in Clinica
Executive Summary
Molecular Detection Inc (MDI), a developer of rapid tests for infectious diseases, has raised $3.3m in series C financing which will be used to launch the company's first product, the Detect-Ready assay for screening methicillin-resistant Staphylococcus aureus (MRSA). The funds were provided by lead investor MentorTech Ventures II and new investors Ben Franklin Technology Partners, Robin Hood Ventures and the Mid-Atlantic Angel Group Fund I and II. Wayne, Pennsylvania-based MDI has also appointed Todd Wallach CEO. Mr Wallach has over 20 years of experience in leading life sciences companies from start-up through global commercialisation.
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