Press Release
RainDance Technologies Reviews Opportunities for Growth at Cowen Health Care Conference
BOSTON, MASSACHUSETTS, U.S.A., March 17, 2009 — RainDance Technologies, Inc., a privately held provider of innovative microdroplet-based solutions for human health and disease research, today announced it will be shipping its first commercial Sequence Enrichment Solution this month and reviewed the company’s opportunities for growth at Cowen and Company’s 29th Annual Health Care Conference.
The initial application of the company’s RainStorm™ microdroplet-based technology platform focuses on targeted sequencing of the human genome, one of the fastest-growing segments of the rapidly expanding $1 billion DNA sequencing market. The company’s Sequence Enrichment Solution and RDT 1000 system will enable the high-resolution analysis of genetic variation between individuals within populations at a level unmatched by current methodologies.
“We will make the first commercial shipment of our Sequence Enrichment Solution in March and presently have a backlog of orders,” said Chris McNary, President and Chief Executive Officer, RainDance Technologies. “Over the next 3 years, we estimate the genomic sequence enrichment market at about $400 million, and we believe RainDance can capture a significant share.”
During the last 6 months, RainDance has provided its solution to early access partners representing some of the world’s leading genome research centers. These include the J. Craig Venter Institute, The Genome Center at the Washington University School of Medicine, and the Broad Institute. The company also collaborated with the Scripps Translational Science Institute to accelerate targeted genomic sequencing in its Wellderly Study of America’s healthy elderly.
In targeted DNA sequencing applications, the Sequence Enrichment Solution provides researchers with higher resolution and statistical power while maximizing workflow efficiency and cost. “Our solution enables one next-generation sequencer to do what alternative technologies would require seven sequencers to complete in the same time,” said McNary.
The company also reviewed the application of its RainStorm technology across a wide variety of growing life sciences and applied sciences markets.
“We have announced a consortium with sanofi aventis and Université Louis Pasteur to develop the next generation of high-throughput screening and small molecule compound storage for drug discovery — a $4 billion market,” said McNary.
RainDance recently shared in a Massachusetts Life Sciences Center grant of $250,000 per year for 3 years to Dr. David Weitz, Mallinckrodt Professor of Physics and Applied Physics at Harvard's School of Engineering and Applied Sciences and Physics Department. The grant will fund research to develop a new form of fluorescence-activated cell sorter used to collect biochemical information about individual cells.
“We also have demonstrated proof of principle of our droplet-based technology in enzymatic detection of cell surface markers, sorting based on secreted proteins from cells, immunoassays, qPCR, and enzyme-directed evolution for industrial and biofuel applications,” he said. “These studies highlight the potential of our RainStorm technology to become a true platform capable of sustaining growth for years to come.”
About RainDance Technologies, Inc.
RainDance's proprietary technology platform delivers exquisite sensitivity and data quality that inspires scientists, researchers and clinicians to rethink the way they design experiments, approach discovery, or conduct clinical diagnostics. The core RainStorm™ technology empowers customers to conduct de novo science in an ultra-high throughput, simple, flexible, and low-cost manner. RainDance's commercial products include instruments and high-value consumables and reagents for sequence enrichment for next-generation sequencing, ultra-deep sequencing, and methylation analysis. RainDance sells directly in the U.S. and in Europe, and is building distribution networks in Europe and Asia-Pacific. RainDance Technologies has approximately 70 employees worldwide. For more information, please visit www.raindancetech.com.
RainStorm is a trademark of RainDance Technologies, Inc.
For corporate questions contact:
Chris McNary
RainDance Technologies
44 Hartwell Avenue
Lexington, MA 02421
Phone — 781-861-6300
mcnaryc@raindancetech.com
For technical questions contact:
James Brayer
RainDance Technologies
44 Hartwell Avenue
Lexington, MA 02421
Phone — 781-861-6300
info@raindancetech.com
For press inquiries:
Colin Sanford
Phone — 203-340-2441
colin@bioscribe.com
