General electric-backed genomics tool developer RainDance Technologies has called off its initial public offering after raising more than $100m in equity.
RainDance Technologies, a US-based genomics technology developer backed by industrial product manufacturer General Electric, withdrew its application for an initial public offering yesterday.
The company filed for a $60m IPO in late February this year but cited market conditions for its decision to pull out of the offering.
Life sciences companies have benefited from an 18-month IPO boom but the US markets have experienced a tumultuous few days following ongoing turmoil in the Chinese markets, with the Dow Jones…
