RainDance Technologies receives $16.5 million in funding
RainDance Technologies has received $16.5 million in funding from GE Ventures and Northgate Capital. RainDance has created liquid biopsy technology available commercially. RainDance has raised over $100 million in debt and equity altogether. Their technology is being used as a research tool to study cancer, viruses, and other diseases.
“Imagine a world where someday you can detect cancer before it happens, from a blood test,” stated RainDance CEO Roopom Banerjee. “To be able to get that type of information from blood tests, which could be part of your annual physical? That’s the Holy Grail.”
RainDance’s sales doubled annually over the past year. The company’s detection technology is a microfluidic chipset that is called a “RainDrop.” The technology was developed at Harvard University and spun out in 2004.
Doctors can use RainDance’s technology to screen small amounts of fluid for identifying the component molecules in the liquid. The component molecules are separated out and are examined for mutant DNA or RNA.