Stilla Technologies announced that it has just raised €20 million ($22 million) in a Series B funding round that brought in a new investor, the Chinese 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 willspare 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.
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