12-15 Molecular Diagnostics

East Haven, CT

12-15 Molecular Diagnostics in Data Room
Test components

12-15 Molecular Diagnostics is a Connecticut-based biotechnology firm that has developed a Graphene Carbon-Nanotubes platform technology which has shown success in detecting Covid-19 at an early stage. This new rapid test, called Veralize, is much more accurate, faster, and easier to use than existing Covid-19 rapid antigen tests. It can be produced inexpensively, uses saliva rather than nasal samples, and provides a platform on which to perform many other diagnostic tests. The National Institutes of Health (“NIH”) has ranked 12-15MD in the top 5% of COVID-19 diagnostic companies as part of a Deep Dive review process by invitation from NIH’s Rapid Acceleration of Diagnostics (“RADx”) initiative. The NIH has awarded three grants to the company. They have completed product prototyping and testing and are now ready to seek FDA emergency use authorization (EUA), complete the development and launch of their Veralize product, and obtain formal 501(k) clearance. 12-15 Molecular Diagnostics is issuing a $3.0 million offering to EB-5 investors, which will accompany $2.2 million in existing investments. The project is expected to bring 83 new full-time jobs to the Woodbridge, Connecticut region within two years. Jobs are allocated to EB-5 investors on a first-in basis.