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Out of the gene pool: RainDance Technologies withdraws $60 million IPO

August 24, 2015

RainDance Technologies, which sells systems that perform non-invasive genetic tests for research institutions, withdrew its plans for an initial public offering on Monday citing market conditions.

The Billerica, MA-based company was founded in 2004 and booked $31 million in sales for the 12 months ended December 31, 2014. It had planned to list on the Nasdaq under the symbol RAIN. BofA Merrill Lynch, Cowen & Company and Evercore Partners were set to be the joint bookrunners on the deal.