YouTubeFacebookLinkedInTwitterinstagramrss

RainDance Closes $37.5m in Financing



By Bio-IT World Staff

January 26, 2011 | RainDance Technologies closed a $37.5 million Series D financing. According to the company, RainDance will use the funding to drive new applications for its commercial targeted sequencing and sequence enrichment solution in the medical genetics and research markets, as well as grow the company's global sales and support infrastructure. 

This financing round co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures. Existing investors Alloy Ventures and Acadia Woods, LLC also participated.

This significant financing kicks off an extremely exciting year of product launches and commercial expansion for RainDance," said Roopom Banerjee, President and CEO of RainDance Technologies in a press release.  "The fact that we have been able to raise a sizable round of financing during a difficult funding environment is further validation of our business and disruptive microdroplet technology platform.  We are delighted to welcome Quaker BioVentures to the RainDance family."

RainDance was co-founded by Jonathan Rothberg (see, The Keys to Genomics 2.0), who is Chairman of the company's Board of Directors. RainDance's microdroplet-based RainStorm technology enables researchers to perform fully automated and highly accurate biological analysis in important disease areas including cancer, infectious disease, immunology and genetic screening. Each RainStorm picoliter-scale droplet is the functional equivalent of an individual test tube and can contain a single molecule, cell or reaction. The Company's commercial products integrate with all next-generation DNA sequencing platforms to provide unparalleled performance and a vastly simplified workflow, at a cost-effective price.

View Next Related Story
Click here to login and leave a comment.  

0 Comments

Add Comment

Text Only 2000 character limit

Page 1 of 1