Even before the coronavirus and the world discovering the virtues of PCR test machines, Stilla Technologies was able to raise 20 million euros in a new round of fundraising.
A Technology that Saved Time in Identifying Infected Patients
It is hard to imagine a world pre-coronavirus but, yes, it did exist. And in that world, Stilla Technologies had already created a faster PCR machine for genetic analysis which we would all come to discover, once we were faced with the deathly virus.
Stilla Technologies was already well positioned in its market by then and its Naica System has probably helped many to discover if they were or not infected. Today, once the sample is brought to the lab, the PCR machine can determine, within an hour and a half if the person possesses the genetic identity of the virus in him; an important advantage when every second counted in the fight against the coronavirus.
TUS-Holdings is the Latest Investor in Stilla Technologies
The new round of funding in Series B brought in a new partner inside Stilla Technologies. The Chinese group TUS-Holdings has come inside Stilla, joining forces with previous investors Illumina Ventures, Kurma Partners, LBO France, Paris Saclay Seed Funds, BNP Paribas Développement and Idinvest Partners.
This addition also comes with a new member on the board: Daniel Wang, Head of the European subsidiary of TUS-Holdings. This comes from a long experience in business relationship with China which was built partly through its local distributor and partner Apexbio/Cycloud. China has always been an important market for the company, and inserting a new investor from the country is an important step in the growth and future of Stilla in that country and its region.
Preparing for the Next Generation Solution
This new fundraising campaign was made in order to prepare for the development of the next generation solution of the Naica machine. It should feature a greater wealth of analytical possibilities, including moving for 3-colour detection capabilities to six. The goal will remain the same: Make sure that the patients can benefit from the best technology available on the market.
And what can be better than by adding an investor that already has experience in the field of science and biotech companies? TUS-Holding has already in his portfolio over 30 companies in these sectors, giving it a definite edge in knowledge. In fact, it intends to open doors for Stilla by giving it access to their already existing innovation ecosystem and network.
There is no doubt that with the new notoriety of the PCR technology, the market will grow even more. The Naica system should definitely break new ground in 2020 and in the years to come and take on its share of revenues in the molecular biology field.