RainDance Technologies, Inc., a Billerica, MA-based innovative genomics tools company, closed a $16.5m Series E financing round extension.
New investors include GE Ventures and Northgate Capital joined all existing investors (Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners, Sectoral Asset Management, and Capital Royalty Partners).
The company intends to use the funds to accelerate commercial expansion and assay development initiatives for its products.
Led by Roopom Banerjee, President and CEO, RainDance provides genomics tools to standardize molecular testing of complex diseases. Products include:
– RainDrop™ digital PCR system, which provides sensitivity for research into early detection and monitoring of cancers, viruses, pathogens and immune markers;
– ThunderStorm™ targeted sequencing system, which advances research into and understanding of hereditary risk, inherited diseases and hematologic malignancies; and,
– ThunderBolts™ Cancer Panel, which delivers an actionable sequencing profile of somatic tumor mutations in molecular biopsies or biobanked samples.