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RainDance Closes $16.5M Series E Financing Round Extension

NEW YORK (GenomeWeb News) – RainDance Technologies today said that it has closed a $16.5 million Series E financing round extension.

New investors GE Healthcare and Northgate Capital participated in the round as did existing investors. The financing, Billerica, Mass.-based RainDance said, will be used to accelerate its commercial expansion and assay development work.

RainDance also is developing a liquid biopsy method that uses "readily accessible fluids" and is minimally invasive and inexpensive, it added.

GE Ventures becomes the second strategic investor in RainDance, following Myriad Genetics' investment in the firm in 2013. RainDance said it has raised more than $100 million from investors including Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners, Sectoral Asset Management, Northgate Capital, and Capital Royalty Partners.

In September, it secured $35 million in debt financing.