Today we are pleased to announce the closing of a Series E financing round worth $20 million. We are equally pleased to announce that Myriad Genetics has joined as a new strategic equity investor, joining our existing investors (including Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods, and Sectoral Asset Management) who also participated in the round.
We will use the proceeds of this financing to drive the global expansion of our products: the ThunderStorm™ system for targeted next-generation sequencing, and the recently launched RainDrop™ digital PCR system for ultra-sensitive multiplexed quantitative detection of circulating nucleic acids. In addition, this financing enables us to substantially expand our commercial operations and manufacturing capacity, including a relocation of the company headquarters to a new facility later this year.
– Bill Ericson | Mohr Davidow Ventures
It’s an exciting time at RainDance and as Board Member and Mohr Davidow Ventures partner Bill Ericson noted in today’s announcement, “RainDance’s strong team and innovative products are delivering tremendous growth, and all the investors are excited by the company’s recent successes. 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.”
We look forward to updating you on our progress here on the RainDance blog. To read today’s full press release, please click here.