France-based DNA quantification technology developer Stilla Technologies has raised €31.3m ($35m) in debt and convertible bond financing from investors including Illumina Ventures, the corporate venturing arm of genomics technology producer Illumina.
The round also featured BNP Paribas Développement, a subsidiary of financial services firm BNP Paribas, as well as LBO France, Eurazeo, Kurma Partners, TusPark Capital Management, Casdin Capital and European Investment Bank. It consisted of $13m in convertible bonds and $22m in loan financing.
Stilla has developed a digital polymerase chain reaction (PCR) platform featuring six fluorescent channels that can be used in liquid biopsy tests for cancer diagnostics as well as cell and gene therapies, infectious diseases, prenatal testing and detection of genetically modified organisms.
The company plans to use the capital to further expand its global commercial presence and develop the next generation of its digital PCR platform.
The deal came after Stilla collected $21.8m in a February 2020 series B round featuring Illumina Ventures, BNP Paribas Développement, Kurma Partners, Idinvest Partners, LBO France, TUS Holdings – the holding corporation of Tsinghua University – and University of Paris-Saclay’s Seed Fund.
Illumina Ventures had previously led an $18m series A round for the company in 2018 with backing from BNP Paribas Développement, Kurma Partners, Paris Saclay Seed Fund, Idinvest Partners and LBO France.
Philippe Mourere, president and CEO of Stilla, said: “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.”