The Venture Codex

Participated · Series C · Mar 2024

Stilla Technologies builds digital PCR instruments and consumables based on its Crystal Digital PCR technology, including the Nio™ platform and the recent Nio™+ 7‑color system. The Nio™+ can detect 20+ biomarkers per assay, offering a 3–4x multiplexing advantage over competitors and sitting between qPCR and NGS on cost and data density. Stilla positions its systems to fit laboratory workflows, emphasizing ease of use and automation compatibility (e.g., the Ruby Chip). The company targets applications across cancer/liquid biopsy, cell and gene therapy, infectious disease diagnostics and monitoring, epidemiology, food and environmental testing. Over 10 years of product development includes a 3‑color system in 2016, a 6‑color system in 2021, the automation‑ready Ruby Chip in 2022, and the November launch of Nio™+. Financially, Stilla closed a €26.5M Series C and employs over 80 people. Leadership and board changes were made recently following the CEO's reappointment in October, and the company cites expanded executive and board teams as part of its next chapter. Stilla Technologies develops multiplex Crystal Digital PCR solutions, most notably the naica® system—the industry's first six‑color digital PCR platform. The company targets applications including cancer and liquid biopsy studies, cell and gene therapies, infectious disease detection, and food and environmental testing. Stilla recently launched the six‑color naica® system, which it says is in high demand among researchers and clinicians. The company plans to use new financing to expand its global commercial presence and to develop its next‑generation digital PCR platform. Stilla has U.S. headquarters in Boston and European headquarters in Paris, and maintains strategic distribution and business partnerships in China. Financially, Stilla secured €31.3 million in the form of €11.3 million of convertible bonds and €20 million in loan financing. Stilla Technologies develops the Naica System, a digital PCR platform that enables precise detection and quantification of DNA mutations for research organizations in molecular biology and genetic analysis. The company was founded in 2013 at Ecole Polytechnique by Rémi Dangla, its CEO. Stilla launched the first generation of the Naica System in 2016 and generated first revenues in 2017. The Series B proceeds will be used to boost development of its solution, with a focus on high analytical performance and adding 6-color detection capabilities. The company positions its product for research organizations requiring high-precision genetic analysis. Stilla Technologies is a Paris-based life sciences company that provides a flexible digital PCR (dPCR) solution, the Naica System, for next-generation genetic tests. Founded in 2013 at École Polytechnique and led by CEO Rémi Dangla, the company leverages microfluidic innovations to make dPCR a lab commodity across the life sciences. Its core product is the Naica System; Stilla plans to launch a second-generation solution and to begin clinically validating panels to run on the system, initially focusing on oncology. The company intends to use new funding to accelerate Naica sales and expand clinical validation efforts. No operating metrics were disclosed in the article.

Participated · Series C · Apr 2020

Robocath, founded in 2009, designs, develops and commercializes robotic solutions to treat cardiovascular diseases. Its first robotic-assisted platform, R-One™, optimizes safety in coronary angioplasty and is compatible with market-leading devices and cath labs; it is currently available in Europe and Africa. The company is developing a second-generation robot to cover more PCI procedures and to begin peripheral and neurovascular applications. The €40m Series C financing will be used to expand sales and marketing for R-One™ and accelerate product development of the next-generation system. Robocath plans to enter the Asian market through a China-based joint venture with MicroPort that will include local manufacturing, consumable production and robot assembly. Both companies will also pursue R&D on long-distance 5G remote-control technologies and AI algorithms for robotic-assisted platforms. Robocath has more than 30 employees and is backed by investors including GO CAPITAL, NCI, Normandie Participations, M Capital, Supernova Invest, Caisse d’épargne, BNP Paribas, Crédit Agricole and Bpifrance. Robocath develops robotic systems for the treatment of cardiovascular diseases, with a focus on robotic-assisted coronary procedures. Its first product, R-One™, is designed to optimize the safety of robotic-assisted coronary angioplasty. R-One™ received CE marking in February 2019. The company intends to use new funding to roll out its robotic platform in strategic European target markets. Robocath was founded in 2009 and is based in Rouen, France. It is led by newly hired CEO Lucien Goffart alongside founder and president Philippe Bencteux. Robocath develops R-One™, a robotic platform that optimizes and increases the safety of robotic-assisted coronary angioplasty by enabling precise operation from a seated position and using a portable X-ray protective screen. The company plans to market its first robotic platform in Europe and the Middle East in 2018 and will use new funding to increase resources for marketing R-One. Robocath will also launch development of a next-generation robotic platform targeted at neurovascular diseases such as strokes. The company received an additional €1.7M in funding which supplements a €4.7M close in May. Founded in 2009 by Philippe Bencteux, Robocath employs close to 20 staff. The funds are explicitly earmarked for commercialization of R-One and R&D on the next-generation stroke treatment robotics. Robocath designs and develops robotic solutions for the treatment of cardiovascular diseases, with its first platform, the R-one™, aimed at interventional cardiology. The integrated R-one platform is covered by 20 families of international patents and allows physicians to remotely manage instruments from a control panel close to the operating table. R-one incorporates two core technologies—R-grasp®, which reproduces hand movements including rotation and simultaneous movement, and SecurAccess®, which provides stability and security during procedures. The company is currently at the manufacturing stage and is in the process of obtaining the CE mark. Robocath intends to use the new funds for continued development and employs around 20 staff. Founded in 2009 in Rouen, France, the company previously raised €1.8m in 2013 and 2015 and received about €1.6m in public aid from Bpifrance and others.

Participated · Series B · Jun 2018

Byton is a China-based electric-vehicle startup building the M-Byte, an SUV centered on a 48-inch wraparound digital dashboard called the “Byton Stage.” The company is assembling a content and services ecosystem for the dashboard via partnerships with ViacomCBS, AccuWeather, Xperi, Aiqudo, Cloud Car, Road.Travel and Access Twine. The M-Byte is slated for volume production later this year at Byton’s Nanjing factory and is priced at $45,000; launches are planned in China (H2 2020), the U.S., and early European markets (H1 2021). Byton is also developing stationary energy storage systems based on the M-Byte battery technology to be manufactured at its Nanjing battery assembly line. The company weathered a tumultuous year that included the departure of co-founder Carsten Breitfeld and fundraising challenges, but says it has secured new Series C investors. Byton develops smart, connected all-electric vehicles and showcased an all-electric SUV concept at the Consumer Electronics Show. The company is building both traditional automotive R&D and internet-enabled vehicle features and has an R&D center in Santa Clara, California. It opened a new headquarters in Nanjing, China to support production and operations. Byton has partnered with autonomous vehicle startup Aurora, which will power Byton’s autonomous driving features via a pilot deployment in the next couple of years. The company plans to roll out its first batch of prototypes in April 2019 and aims to launch a mass-produced model in Q4 2019. The recent capital raise is intended to fund development of its smart mobility products and commercialization plans.

Led · Series A · May 2018

Globin Solutions is a biotech startup developing an antidote to treat carbon monoxide poisoning based on an engineered mutant neuroglobin (Ngb H64Q). The company licensed the underlying technology from the University of Pittsburgh and its founders — all faculty at the University of Pittsburgh School of Medicine — developed the therapeutic. Their lead candidate scavenges carbon monoxide with high affinity; an early assessment showed a CO clearance half-life of about 23 seconds compared with 74 minutes for oxygen therapy. Globin plans to use the Series A proceeds to support preclinical development, optimize manufacturing, and ensure animal safety in animals. The reported funding is just over $5 million from a round led by Tus Science & Technology Service Group with participation from UPMC Enterprises. The therapy is intended as a locally deliverable alternative to hyperbaric oxygen treatment, aiming to reduce logistical barriers and neurocognitive harm in survivors.

Led · Series A · Dec 2017

Biosceptre is a biotechnology company based in Cambridge, England, focused on developing cancer treatments that target nfP2X7. Its clinical programs include systemic antibody-based therapeutics and vaccines intended to treat a range of cancer types. The company has completed a phase I trial and plans to progress multiple clinical trials across a range of cancer indications to further establish nfP2X7 as a therapeutic target. Biosceptre will use proceeds from its latest financing to advance its first systemic nfP2X7 products into the clinic. The company is led by CEO Gavin Currie, and Sir Greg Winter serves as acting chairman and chairs the Science Advisory Board. The recent funding positions the company to move several clinical programs forward. Biosceptre International is an oncology company developing antibody products that target the nf-P2X7 receptor. Its lead systemic programme, BIL-221s, is a fully human monoclonal antibody against nf-P2X7 and is being advanced into a 20-patient, multicentre, dose-escalation Phase I study. The primary endpoint of the study will be safety, and the company expects to obtain preliminary pharmacokinetics and efficacy data. Biosceptre plans to start the trial in Q4 2014. The company strategy focuses on developing an internal pipeline of topical and systemic antibody therapeutics, maintaining an external pipeline of cancer vaccines through collaborations, and seeking out-licensing agreements for diagnostics and imaging leveraging nf-P2X7. Financially, the company stated it has raised AUD33m to date and has closed an additional AU$5m financing from existing investors to progress BIL-221s. Biosceptre holds an international patent portfolio extending to 2032 and is headquartered in Cambridge, UK, with additional research facilities in Sydney, Australia.