Raindance pools up $6M of $12M venture round

By Marc Songini

Video Gallery

MHT's Marc Songini: Researchers focus on macular degeneration

MHT's Marc Songini: RI plans launch of cord blood center

OncoPep licenses cancer vaccine, moves to add $500K to Series A [February 13, 2012]

Oxford Immunotec taps Altieri as CFO [February 13, 2012]

SeraCare selling to Linden for $82M [February 13, 2012]

VBI Vaccines pulls in $2.2M debt round [February 13, 2012]

Lexington-based drug discovery toolmaker Raindance Technologies Inc. has raised $6 million of a proposed $12 million round, according to official documents.

The company makes and sells microdroplet-based devices and related tools to accelerate human health and disease research. Now, according to recent U.S. Securities and Exchange Commission documents, the firm has raised $6 million in equity financing. The company did not respond to requests for more information.

Last month, Raindance Technologies announced it had sold its RDT 1000 and Sequence Enrichment Solution to Expression Analysis Inc., a provider of genomic services for clinical trials and research. This was the first sale of the Raindance solution to a service provider, the company claimed in a statement. The full offering consists of an RDT 1000 machine, consumables kits and expert training.

In December, the Massachusetts Life Sciences Center announced that Raindance Technologies would receive a three-year grant of $250,000 per year for the development of an individual cell data collector via a fluorescence-activated cell sorter. Also named in the award were Harvard University physics professor David Weitz and the Harvard University School of Engineering and Applied Science.

Prior to that, in October, the company dedicated a new 28,000-square-foot headquarters and manufacturing facility in Lexington. This event marked the completion of a previously announced move from Guilford, Conn. Because the company’s space is an expansion over its existing facility, it claimed it would add 50 percent more staff within a year.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.