Paris Saclay Seed Fund backed a series A round which will help the biotechnology company expand sales and launch a new product.
France-based DNA quantification company Stilla Technologies has raised €16m ($18m) in a series A round backed by Paris Saclay Seed Fund, a university venture fund formed by University of Paris-Saclay.
Illumina Ventures, the corporate venturing arm of genomics technology producer Illumina, led the round, which also featured financial services firm BNP Paribas through its BNP Paribas Développement unit.
Healthcare-focused investment firm Kurma Partners and private equity firms Idinvest Partners and LBO France filled out the round.
Founded in 2013, Stilla Technologies enables research teams to detect DNA mutations by using digital polymerase chain reaction technology (PCR) to analyse samples for cancer diagnostics or pre-natal testing.
The funding will be used to bolster the sales of the PCR technology, launch a second product and clinically validate diagnostics applications, initially focusing on oncology.
Nick Naclerio, a founding partner at Illumina Ventures, has joined the board of directors, as have Philippe Peltier, partner at Kurma, and Philippe Chambon, a venture partner at LBO France.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
