Skip to main content
Premium Trial:

Request an Annual Quote

RainDance Technologies Closes $20M Series E Financing as Myriad Genetics Buys In

NEW YORK (GenomeWeb News) – RainDance Technologies said today that it has closed a $20 million Series E financing round and that Myriad Genetics has joined as a new strategic equity investor.

RainDance and Myriad earlier this month announced a multi-year commercial supply agreement under which Myriad has adopted RainDance's ThunderStorm system for targeted sequencing enrichment in a next-generation sequencing-based hereditary cancer panel that Myriad is developing.

All existing venture investors in RainDance, including Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners, and Sectoral Asset Management, participated in the Series E round.

Lexington, Mass.-based RainDance said it will use the proceeds to drive global expansion of its products, including the ThunderStorm system and recently launched RainDrop digital PCR system for ultra-sensitive multiplexed quantitative detection of circulating nucleic acids.

In addition, the financing enables the company to substantially expand its commercial operations and manufacturing capacity, and to relocate its headquarters to a new facility in mid-2013, RainDance said.

"Myriad's strategic investment validates RainDance as an emerging leader in genetics research, positioning the company to build substantial value in the new era of personalized diagnostic medicine," Bill Ericson, general partner at Mohr Davidow Ventures and a member of the RainDance board of directors, said in a statement.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.