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Molecular Detection Raises $1.5M for Sepsis, GI Test Development

NEW YORK (GenomeWeb News) – Molecular diagnostic firm Molecular Detection today said that it has completed a $1.5 million financing round to advance its tests for detecting sepsis and gastrointestinal diseases.

The Detect-Ready sepsis panel is designed to detect a range of targets to pinpoint the underlying infection and enable faster treatment, while the Detect-Ready gastrointestinal panel is being developed to be the first molecular diagnostic test able to distinguish the source of an infection without the use of other tests, the company said.

The Detect-Ready technology is real-time PCR-based, and is compatible with a number of real-time PCR platforms from Roche, Abbott, Qiagen, and Cepheid.

Beta testing for both the sepsis and GI panels have started in selected healthcare facilities, the Wayne, Penn.-headquartered firm added.

"The superior performance of the unique differential diagnosis technology that is the foundation for all of our tests was recently reconfirmed in an independent study comparing MDI's Detect-Ready MRSA panel to a market leading competitor," Molecular Detection Chairman and CEO Todd Wallach said in a statement. "We believe that the Detect-Ready technology provides more accurate and useful information to healthcare providers in an economical, rapid and easy-to-use format, resulting in benefits for hospitals, payers, and patients alike."

The Detect-Ready MRSA panel is already available in parts of Europe and Australia.

All existing investors participated in the round, including MentorTech Ventures, Robin Hood Ventures, Elm Spring Holdings, and the Mid-Atlantic Angel Group.