RainDance Technologies secures $35m in financing

RainDance Technologies Inc., a Billerica company developing genomic tools for the ultra-sensitive detection of cancer and inherited diseases, said Monday that it has closed a structured debt financing with Capital Royalty Partners L.P.

The transaction provides RainDance with up to $35 million to support commercial expansion of the company’s Digital PCR and Next-Generation Targeted DNA Sequencing products, the company said in a press release.

The financing builds on RainDance’s $20 million Series E equity financing announced in April.

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“RainDance has perfected its proprietary droplet technology to deliver highly sensitive, non-invasive analysis from complex biological samples, which has profound implications for human medicine,” Luke Duster of Capital Royalty said in a statement. “The company has unparalleled technology, which is being rapidly adopted by industry leaders, for early detection and disease research in areas of oncology, pathogen surveillance, and inherited diseases.”