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Big data genomics company RainDance Technologies has raised $35 million in debt financing from Capital Royalty Partners to accelerate growth and support product development. The deal comes on the heels of a $20 million equity deal announced in April and brings the company’s total amount raised to more than $100 million.
Launched about eight years ago, the company’s genomics tools give researchers at academic and governmental institutions, pharma and biotech companies and other commercial and private labs an ultra-sensitive way to detect cancer and other inherited diseases.
“The human genome project has introduced the world to an entire world of new information and insights relative to the basis of human physiology,” said Roopom Banerjee, the company’s CEO and president. “[It’s] created a biology and big data problem.”
Using the company’s technology, he said, researchers are able to find new gene mutations, screen types of agricultural and food samples for different pathogens and complete other kinds of genetic testing.
RainDance, which is based in Billerica, Mass., is also backed by investors including Mohr Davidow Ventures, Quaker BioVentures and Alloy Ventures, as well as biotech company Myriad Genetics.