RainDance Technologies, Inc., a Lexington, Massachusetts-based digital biology company, today closed a $20m Series E financing.
Backers included all existing investors Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners, and Sectoral Asset Management, as well as new strategic equity investor Myriad Genetics, Inc. (Nasdaq: MYGN).
The company intends to use the capital to expand globally the adoption of its products and grow its commercial operations and manufacturing capacity, including relocation of the headquarters to a new facility in mid-2013.
Led by Roopom Banerjee, President and CEO, RainDance Technologies is a life sciences company that develops solutions enabling accurate early detection of disease and predisposition risk. It currently provides the ThunderStorm system for targeted next-generation sequencing, and the recently launched RainDrop™ digital PCR system for ultra-sensitive multiplexed quantitative detection of circulating nucleic acids.
The company supports customers through international sales and service operations as well as a global network of distributors and commercial service providers.