RainDance Technologies Shelves Long-Awaited $60 Million IPO Plans

RainDance Technologies has withdrawn plans to go public, nearly five months after filing for a $60 million IPO.

In public filings, the 11-year-old Billerica company, which makes a unique kind of machine that can do cheaper genetic tests using just tissue and bodily fluids, said that “market conditions” caused the company to withdraw its plans. Officials did not return calls for comment.

The withdrawal signals a slowing IPO market for Massachusetts biotechnology companies. Only six have gone public eight months into 2015 in the state, compared to 17 in all of 2014.

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