Stilla Technologies raises EUR20 million ($22 million) in Series B round that brings in new investor, TUS-Holdings, alongside existing ones
PARIS, Feb. 11, 2020 /PRNewswire/ -- Stilla Technologies, a leading provider of pioneering digital PCR (dPCR) solutions for high-precision genetic analysis, has just raised €20 million ($22 million) in a Series B funding round that brought in a new investor, the Chinese group TUS-Holdings, alongside the participation of existing investors Illumina Ventures, Kurma Partners, LBO France, Paris Saclay Seed Funds, BNP Paribas Développement and Idinvest Partners.
Rémi Dangla, Cofounder and CEO of Stilla Technologies said: "We will use the funds to boost the development of our next-generation solution, which will feature superior analytical performance including 6-color detection capabilities. Our future focus will be to apply our state-of-the-art technology to clinical diagnostics, to the benefit of patients."
Rémi adds: "By bringing TUS-Holdings on board, we also look to rapidly expand our activities in China and throughout Asia, while maintaining strong growth of the business in Europe and the United States. Following our Series A round in October 2018, the company has been expanding very rapidly, experiencing strong sales growth and making exciting progress with its pipeline of new products. The new Series B round will allow us to continue on this successful course at an even faster pace."
"I am thrilled to welcome TUS-Holdings as one of Stilla's investors and to appoint the Head of TUS' European subsidiary, Daniel Wang, as a new member of our board. China has always been a key market for Stilla. Over the years, we have built a successful partnership with our local distributor and partner Apexbio/Cycloud. I see a very strong future for our Crystal Digital PCR technology in China, and it is great to have Daniel helping us to build the best strategy to seize opportunities there," added Mr. Dangla.
"TUS is convinced of Stilla's promising potential, both in terms of technology and market perspective. We believe that the company has a bright future in China. As such, we're thrilled to add Stilla to our portfolio of more than 30 life science and biotech companies. TUS will spare no effort to facilitate Stilla's growth, including by granting the company access to our innovation ecosystem and network," said Daniel Wang, CEO of Tuspark Europe, the European subsidiary of TUS-Holdings.
Mr. Wang is set to join Stilla's Board of Directors.
Since 2016, Stilla Technologies has been providing research organizations specialized in molecular biology and genetic analysis with its Naica System, a ground-breaking digital PCR (polymerase chain reaction) solution that enables scientists to detect and quantify DNA mutations with unrivalled precision. The $2-billion digital PCR market targeted by Stilla Technologies is poised to become the new standard in molecular biology (over 3300 scientific publications in 2018, mostly in oncology). Stilla Technologies launched the first generation of the Naica™ System in 2016 and generated first revenues in 2017.
About Stilla's Naica System
The Naica System is a highly sensitive digital PCR solution that runs on the company's next-generation genetic testing and nucleic acid quantification technology, Crystal Digital™ PCR. The Naica System is uniquely capable of characterizing multiple types of nucleic acids with its three-color detection capability. Its ease of use and fastest time to results — in two hours and 30 minutes —set this innovative technology apart on the digital PCR market. The Naica System supports a wide range of genetic tests and molecular biology assays — including liquid biopsy tests for cancer diagnostics, viral load quantification, pre-natal testing, and GMO detection. Overall, the Naica System's superior performances make it a preferred technology for precision medicine research and therapeutic monitoring.
About Stilla Technologies
Founded in 2013 at Ecole Polytechnique, Stilla Technologies is a Paris-based European life sciences company that focuses on accelerating the development of next-generation genetic tests by providing a ground-breaking and flexible digital PCR (dPCR) solution: the Naica System. Taking advantage of cutting-edge microfluidic innovations, Stilla aims to make dPCR a lab commodity for all areas of the life sciences. Stilla actively advises and supports its customers worldwide through its dynamic and multidisciplinary R&D team, with expertise spanning from microfluidics to chemistry, including molecular biology and AI. www.stillatechnologies.com
About Illumina Ventures
Illumina Ventures is an independently-managed, healthcare-focused venture firm in a strategic partnership with Illumina, with the vision to unlock the power of the genome. As an early-stage, value-add investor, we help entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. We focus on investment in life science tools, therapeutics, diagnostics, and personal wellness.
About LBO France
Active for over 30 years, LBO France is major actor in the French and Italian private equity world with over €6 billion of equity raised. LBO France is an independent company since inception. It focusses its investments activities on 5 different segments, of which venture capital is one. Each activity is supported by a dedicated team. LBO France venture segment is leading the digital health sector in Europe with its SISA and Digital Health II funds. www.lbofrance.com
About Kurma Partners
Kurma Partners is a key European player in the financing of innovation in healthcare, biotechnology and digital diagnostics, notably through Kurma Biofund I and II, Kurma Diagnostics and strategic partnerships with prestigious European research and medical institutions. www.kurmapartners.com
About Idinvest Partners
Idinvest Partners is a leading European mid-market private equity firm. With close to €8bn under management, the firm has developed several areas of expertise including innovative startup venture capital transactions; mid-market corporate debt, i.e. single-tranche, senior and subordinated debt; primary and secondary investment and private equity advisory services. Founded in 1997 Idinvest Partners used to be an Allianz subsidiary until 2010, when it branched out as an independent firm. In January 2018, Idinvest Partners joined forces with Eurazeo to create a private equity leader in Europe and North America with €18bn under management.
About BNP Paribas Développement
BNP Paribas Développement, a BNP Paribas Group subsidiary founded in 1988, invests its own capital directly in promising small and medium-sized enterprises and mid-cap companies. As a minority shareholder in these target companies, BNP Paribas Développement seeks to promote their growth and ensure their longer-term prosperity by facilitating ownership transfer. It manages a portfolio of 400 companies including 50 startups.
TUS-Holdings was originated from the former Tsinghua University Science Park (TusPark), the largest University Park in the world. It has invested over 200 parks/incubators globally, having a full supply-chain incubation with the unique model of "incubation + investment + M&As". The group has demonstrated return-focused fund management capabilities with currently more than 35 venture and industry funds, and this investment to Stilla is through its Luxembourg CLIIF fund. TUS is actively expanding its healthcare sector through investments focusing on IVD and Precision medicine, medical instruments and healthcare services. The total investment in this sector has reached over EUR 300 million.
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SOURCE Stilla Technologies