Stilla Technologies Secures Financing of More Than €31 Million Adding Casdin Capital and the European Investment Bank to Existing Investors
PARIS & BOSTON–(BUSINESS WIRE)–Stilla Technologies, the multiplex digital PCR 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 Stilla 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.