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RainDance Raises $37.5M, Plans to Expand into Medical Genetics Market


RainDance Technologies has raised $37.5 million in a Series D financing round, which it will use to expand into the medical genetics and research markets, as well as grow its global sales and support team. Additionally, it will develop and commercialize products for single-molecule digital PCR and single cell analysis.

The funding round was co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures. Alloy Ventures and Arcadia Woods also participated. As part of the round, Sherill Neff from Quaker BioVentures and Jeffrey Samberg from Acadia Woods will join RainDance's board of directors.

"This significant financing kicks off an extremely exciting year of product launches and commercial expansion for RainDance," president and CEO Roopom Banerjee said in a statement.

Bannerjee plans to discuss RainDance's new product portfolio at next week's Advances in Genome Biology and Technology meeting in Marco Island, Fla. Last June, he told In Sequence that the company was developing an ultra-deep resequencing application that will be particularly useful for analyzing rare mutations in gene panels from heterogeneous tumors by allowing users to analyze gene mutations present at a frequency of 1 percent or lower (IS 6/22/2010).

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