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Molecular Detection Inc. Completes $1.5 Million Financing to Advance New Tests for Sepsis and GI Disorders
Date:3/7/2012

WAYNE, Pa., March 7, 2012 /PRNewswire/ -- Molecular Detection Inc. (MDI), a company developing Detect-Ready® tests designed to increase the speed and accuracy of infectious disease diagnosis, today announced that it has completed a $1.5 million financing.  The funds are primarily being used to advance MDI's new molecular diagnostic panels for the detection of sepsis and gastrointestinal (GI) diseases.  Separately, MDI announced allowance of a new European patent for its stabilization technology, which enables Detect-Ready kits to be shipped and stored at room temperature while preserving the integrity of their reagents.  The company also reported that a major teaching hospital in the UK recently completed a comparative study further demonstrating that MDI's Detect-Ready MRSA Panel is superior to a market leading MRSA assay from a global competitor. 

"We appreciate the continuing support of our investors, which is enabling us to advance the development of our new molecular diagnostic assays for sepsis and serious gastrointestinal infections prevalent in hospitals," commented Todd Wallach, CEO and chairman of MDI.  "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.  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 new comparative data confirming the greater accuracy of the Detect-Ready MRSA panel was generated by researchers at St. Thomas' Hospital in London as part of an academic study.  The study compared the performance of MDI's test and the Becton Dickinson GeneOhm MRSA PCR sold by BD Diagnostics.  The researchers conclud
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SOURCE Molecular Detection Inc.
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