RainDance Technologies closes debt financing for Capital Royalty

By Marc Castro

Sep 23, 2013 04:11 PM EDT

An innovator in genomics tools, RainDance Technologies, had announced the closure of a structured debt financing plan for Capital Royalty Partners. RainDance is the manufacturer of tools that enable ultra-sensitive detection for cancer and other diseases. The transaction would provide RainDance with USD35 million in support for the commercial expansion of its products.

The financing would build on the previous Series E equity financing announced back in April 2013. For the transaction, Armentu, Partners acted as the financial advisors to the transaction.

According to Capital Royalty's Luke Duster, "RainDance has perfected its proprietary droplet technolgy to deliver highly sensitive, non-invasive analysis from complex biological samples, which has profound implications for human medicine. 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."

For its part, RainDance Technologies President and CEO Roopom Banerjee said, "We are proud of the important role our genetic analysis products play in the transformative work of researchers and clinical investigators."

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