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Myriad's Investment in RainDance Totals $5M

NEW YORK (GenomeWeb News) – Myriad Genetics' investment into RainDance Technologies totals $5.0 million, the Salt Lake City-based company said in its Form 10-Q filed with the US Securities and Exchange Commission this week.

RainDance announced last week the closing of a $20 million Series E financing round, saying Myriad had joined as a strategic equity investor. In its SEC document, Myriad said that it acquired about 28 million shares of RainDance's Series E preferred stock as part of its investment.

It added that the "Series E shares represent less than 5 percent of the total shares outstanding of RainDance's capital stock."

Earlier last month, Myriad and RainDance also announced a multiyear deal for the adoption of RainDance's microdroplet PCR-based target enrichment technology.

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