|[December 02, 2013]
RainDance Technologies Names Alfred G. Merriweather Chief Financial Officer
BILLERICA, Mass. --(Business Wire)--
RainDance Technologies, Inc., a genomics tools company enabling
development of ultra-sensitive and non-invasive methods for early
detection of cancer and inherited diseases, today announced that Alfred
G. (Alf) Merriweather has joined the company as Chief Financial Officer.
Merriweather brings more than 25 years of executive level experience in
private and public company financing, initial public offerings, mergers
and acquisitions, as well as broad transactional experience in strategic
corporate partnerships and initial public offerings. He most recently
served as CFO of Verinata Health prior to its acquisition by Illumina.
Previously he served as CFO and in senior executive positions with
several leading life science and clinical diagnostics companies,
including Celera Corporation and Monogram Biosciences.
"Alf is joining us at a significant inflection point in our business and
his appointment will help expand our financial activities to better
support our growing worldwide operations," said RainDance CEO Roopom
Banerjee. "Our technology platforms are experiencing rapid and broad
market adoption in academic and translational research, as well as in
industrial and applied markets. Alf has substantial experience with
growing revenues in the commercial scale up phase of life science
RainDance has raised over $100 million to support development and
commercial expansion of its leading Digital
PCR and Next-Generation Targeted
DNA Sequencing systems. The RainDrop Digital PCR (News - Alert) System, which
isolates genetic material into 10,000,000 picodroplets per sample, is
enabling researchers to detect low-frequency tumor alleles. Separately,
RainDance's ThunderStorm System is allowing development of comprehensive
next-generation sequencing-based gene panels for screening cancer
hotspots and other specific human genes or regions of interest.
RainDance features an open system that leverages the illions of dollars
already invested in molecular biology development and innovation.
"What attracted me in particular to RainDance," Merriweather added, "is
the opportunity to make the 'liquid biopsy' concept a clinical and
commercial reality. We are transforming cancer research by providing
scientists with the ability to gain valuable genomics information from a
simple blood draw. With two transformative platforms that leverage a
common core technology, there is also a clear and immediate opportunity
to build a strong and vibrant business."
RainDance executives will be presenting at the JP Morgan (News - Alert) Healthcare
Conference in January 2014, and the International Strategy and
Investment Group Med Tools Conference in Boston this week.
In 2013 the company:
Signed a multi-year supply agreement with Myriad Genetics to provide
ThunderStorm™ systems, gene panels, reagents and consumables for
Myriad's recently launched myRisk™
Hereditary Cancer Panel;
Successfully collaborated with clinical researchers to demonstrate the
use of the company's RainDrop™
Digital PCR technology for detecting circulating tumor mutations
directly from blood, urine and cerebrospinal fluid, demonstrating that
cancer progression can be monitored by less-invasive techniques, with
Expanded its commercial leadership with industry veterans, and
extended the company's global reach with nine new distribution
partnerships to support the fast-growing Asia-Pacific and European
Announced a new Service
Partner Program for customers developing next-generation
sequencing-based genetic research gene panels.
Closed a $35 million financing led by Capital Royalty Partners to
support commercial expansion of the company's Digital PCR and
Next-Generation Targeted DNA Sequencing products.
About RainDance Technologies
RainDance Technologies is making complex genetics simple. The company's
ultra-sensitive genomic tools are leading to new non-invasive liquid
biopsy applications for more accurate, reliable, cost-effective and
early detection of cancer, inherited and infectious diseases. Major
research institutions and clinical genetics laboratories around the
world rely on RainDance systems' superior performance. Based in
Billerica, Massachusetts, the company supports customers using RainDrop
Digital PCR and ThunderStorm Targeted DNA Sequencing Systems through its
international sales and service operations as well as a global network
of distributors and commercial service providers. For more information,
please visit www.RainDanceTech.com.
Stay Connected with RainDance Technologies - Complex Genetics Made
The RainDrop Digital PCR System is for Research Use Only; not for use
in diagnostic procedures.
RainDance Technologies, the RainDance Technologies logo, RainDrop,
and Digital Biology are trademarks of RainDance Technologies, Inc. All
other brands may be trademarks of their respective holders.
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