Raindance Technologies S-1 Analysis (NASDAQ:RAIN)

Raindance Technologies Basic Info

Exchange: NASDAQ

Proposed Symbol: RAIN

Employees: 104

CEO: S. Roopom Banerjee

File Date: 02/27/15

Offer Amount: $60 mm

Description from S-1: “We are a commercial-stage company that develops, manufactures and sells proprietary systems, consumables and assays that enable ultra-sensitive detection and analysis of complex genetic diseases in tissue and “liquid biopsies” in life science and translational research settings. Our products enable researchers to enhance the sensitivity, specificity, range of gene content, sample type and workflow while lowering costs of Next Generation Sequencing content enrichment, or NGS, and Digital Polymerase Chain Reaction, or dPCR. Our products facilitate the research, discovery and monitoring of cell-free genetic targets associated with inherited disease, pathology, and recurrence of cancer and infectious disease. One of the initial applications of our technology is liquid biopsy, which enables non-invasive, highly accurate genetic analysis by detecting and measuring low levels of circulating genomic material such as DNA, RNA or microRNA in bodily fluids instead of traditional invasive biopsy procedures or imaging techniques that yield lower quality information.”

From the S-1

Underwriters:

  • Lead Underwriters: B of A, Cowen & Company, and Evercore Group

2014 Sales: $30.6 mm

Total Assets: $50.174 mm

Competitors: Invitae (NVTA), Illumina (ILMN), Fluidigm (FLDM), Agilent (A), Quiagen (QGEN).

Other Notes

  • Based in Billerica, Massachusetts
  • Founded in 2004
  • They develop microdroplet-based solutions for the early detection of cancer and other diseases.
  • The Raindance Technologies founder, Jonathan Rothberg, also founded CuraGen, which was sold to Celldex (CLDX) in 2009 for approximately $100 mm.
  • Raindance has 3 Nobel Prize winners on it board of directors.
  • Funding History:
    • $16.5M / Mar 3, 2014
      • Investors: Northgate Capital GE Ventures
    • $35M / Sep 22, 2013
      • Investors: Capital Royalty
    • $20M / Apr 29, 2013
      • Investors: Mohr Davidow Ventures Quaker BioVentures Alloy Ventures Acadia Woods Partners Sectoral Asset Management
    • $37.5M / Jan 25, 2011
      • Investors: Quaker BioVentures Alloy Ventures Mohr Davidow Ventures Acadia Woods Partners
    • $6M / Apr 24, 2009
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