By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Molecular Detection today announced it has raised $1.4 million in a close of a new financing round.

The round is a follow-on to a Series C round closed in October that raised $3.3 million.

The new financing was led by MentorTech Ventures II, and included Robin Hood Ventures, Elm Spring Holdings, and the Mid-Atlantic Angel Group Fund I and II, all existing investors.

The funds will be used to advance its new product development and for working capital.

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