Molecular detection Co., Singulex, raises $10.5M

Singulex, a Hayward company developing “bio-markers” to detect the presence in the body of certain proteins that might suggest disease, said it has raised $10.5 million in series C and debt financing deals.

It also said it has added Mickey Urdea, Ph.D. to its board of directors and has successfully completed several commercial pilot studies with research labs and pharmaceutical partners using the company’s “Zept x” molecular detection system.

The company said it has opened a 6,000 square foot commercial operation facility in Hayward.

Singulex’ existing investors, Fisk Venture and Prolog Ventures were part of the latest financing round totaling $8 million, which was led by a new undisclosed investor, the company said.

The company also closed a one million dollar financing round from GE Capital and a one and a half million dollar debt financing from Bridge Bank, bringing the total amount raised to $10.5 million.

The product should hit the market in the first half of 2007, the company said.

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