NanoDetection Technology Raises Additional $300K; Closes $2.3M Series A Round
NanoDetection Technology, a Tech-Way Office Park in Franklin, Ohio-based company that develops a system for the detection of pathogens, DNA and biomarkers in the health care, food safety and bio-terrorism industries, has raised additional $300k in a $2.3m Series A funding with 21 investors.
The Series A round, whose first part was closed in November 2010 (read here), was led by CincyTech with a $400,000 investment, with participation from Southern Ohio Creates Companies, which injected $100,000, and 19 individual investors.
Led by CEO Joel Ivers, NDT focuses on marketing a low-cost point-of-care diagnostic system to hospitals and physicians’ offices, with a first target on the detection of MRSA (Methicillin-resistant Staphylococcus aureus) in skin and soft tissues. The company believes this investment round will fund efforts for its clinical trials and for it to complete a Food and Drug Administration clearance of its new test. NDT expects its initial U.S. MRSA-targeted sales early in 2013.