RainDance Technologies Closes $37.5M Series D Financing Round
Published On January 25, 2011 |
RainDance Technologies, Inc., a Lexington, Massachusetts-based provider of microdroplet-based solutions for single molecule and single cell analysis, has closed a $37.5m Series D financing round.
The was co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures, with partipation from other current backers Alloy Ventures and Acadia Woods, LLC.
In conjunction with the funding, Sherrill Neff from Quaker BioVentures and Jeffrey Samberg from Acadia Woods will join RainDance’s board of directors.
The company intends to use the funding to drive new applications for its commercial targeted sequencing and sequence enrichment solution in the medical genetics and research markets, grow its global sales and support infrastructure, and to develop and commercialize products for single molecule digital PCR and single cell analysis.
Led by President and CEO Roopom Banerjee, RainDance has developed a microdroplet-based technology that is designed to enable researchers to perform fully automated and highly accurate biological analysis in important disease areas including cancer, infectious disease, immunology and genetic screening. Each picoliter-scale droplet is the functional equivalent of an individual test tube and can contain a single molecule, cell or reaction.
The company supports scientists worldwide through its international sales and support operations and a global network of distributors and service providers.