NEW YORK – Stilla Technologies announced on Tuesday it has raised €31.3 million ($35.2 million) in new funding. The Paris-based firm will use the funds to expand its global commercial presence and develop its next-generation digital PCR platform.
The funding is in the form of €11.3 million of convertible bonds and €20 million in loan financing.
It includes new funding from existing investors Illumina Ventures, Kurma Partners, TusPark Capital Management, LBO France, BNP Paribas Developpement, and Eurazeo. New investment also comes from life science firm Casdin Capital and the European Investment Bank.
"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 of Stilla Technologies.
Stilla recently launched the six-color Naica system, which the firm says is the industry's highest multiplexing digital PCR system.
Nick Naclerio, founding partner at Illumina Ventures, said the team sees "incredible promise" in Stilla's platform to "accelerate the utilization of genomics data in routine translational research and clinical settings."