Stilla Technologies Secures Financing of More Than €31 Million Adding Casdin Capital and the European Investment Bank to Existing Investors
Stilla Technologies, the multiplex digital PCR (News - Alert) company, today announced it has raised €31.3 million in the form of €11.3 million of convertible bonds and €20 million in loan financing. In addition to new funding from existing investors Illumina Ventures, Kurma Partners, TusPark Capital Management, LBO France, BNP Paribas Developpement and Eurazeo, Stilla has attracted investment from leading life science firm Casdin Capital and from the European Investment Bank (EIB).
Stilla will use the funds to further expand its global commercial presence and develop its next generation digital PCR platform. Most recently, the innovation leader launched the six-color naica® system, the industry's highest multiplexing digital PCR system, already in high demand and being used by researchers and clinicians across a breadth of applications.
"In the context of the Covid-19 pandemic which highlighted the need for accurate and reliable diagnostic tools, the EIB is pleased to provide this investment to a dynamic and fast-growing company at the forefront of digital PCR innovation," said Ambroise Fayolle, Vice President of the EIB. "Thanks to the European guarantee put in place by the EU Member States and deployed by the EIB, Europe is investing more in health, which is both a factor of competitiveness and attractiveness for the continent and brings a better quality of life to its inhabitants."
"We are excited to continue supporting Still Technologies alongside other premier investors," said Nick Naclerio, Founding Partner at Illumina Ventures. "We see incredible promise in Stilla's platform to accelerate the utilization of genomics data in routine translational research and clinical settings."
"This latest financing will enable us to continue to support our commercial growth in the North American and European markets and our strategic distribution networks in Asia, as well as sustain our pace of product innovation as we look to our next phase," said Philippe Mourere, President and CEO, Stilla Technologies.
About Stilla Technologies
Stilla Technologies is the multiplex digital PCR company transforming complex genomic data into actionable insights across a wide range of research and clinical applications including cancer and liquid biopsy studies, cell and gene therapies, infectious disease detection, and food and environmental testing. Stilla's groundbreaking Crystal Digital PCR™ solution, the naica® system, is the industry's first digital PCR system featuring six fluorescent channels, providing biomedical researchers and clinicians the highest multiplexing and detection capacity available on the market. Stilla has U.S. headquarters in Boston, MA, European headquarters in Paris, France, and strategic distribution and business partnerships in China. To learn more, visit www.stillatechnologies.com and connect with Stilla on Twitter, LinkedIn and YouTube.
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