RainDance showered with $37.5M for new research tools

Lexington, MA-based RainDance Technologies has raised a $37.5 million Series D led by a pair of high-profile life science venture groups, giving it some extra cash to help advance its genomic research tools. The financing was co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures. Existing investors Alloy Ventures and Acadia Woods, LLC also participated in the financing round. Sherrill Neff from Quaker BioVentures and Jeffrey Samberg from Acadia Woods will join the RainDance board.

RainDance has developed a microdroplet-based technology designed to allow researchers a better way to perform biological analysis in disease such as cancer, infectious disease, immunology and genetic screening. "Each RainStorm picoliter-scale droplet is the functional equivalent of an individual test tube and can contain a single molecule, cell or reaction."

"This significant financing kicks off an extremely exciting year of product launches and commercial expansion for RainDance," said Roopom Banerjee, the CEO of RainDance Technologies. "The fact that we have been able to raise a sizable round of financing during a difficult funding environment is further validation of our business and disruptive microdroplet technology platform.  We are delighted to welcome Quaker BioVentures to the RainDance family."

- here's the RainDance release