STILLA TECHNOLOGIES (EGF VD)

The project focuses on accelerating the development of next-generation genetic tests by providing a ground-breaking and flexible digital PCR (dPCR) solution in a Paris-based European biotechnology company. 

The proposed transaction will support research and development (R&D) investments that are required in order to advance the development of the next generation of the Promoter's digital PCR (dPCR) platform and expand the range of tests available. By co-investing in the project, the Bank contributes to improving healthcare, whilst also fostering the generation of European scientific knowledge and acumen, preserving and cultivating highly skilled employment opportunities.

The project addresses the failure in financial markets for small innovative and high-growth companies arising from the limited access and/or prohibitive cost of financing charged by creditors/investors as a result from information asymmetries, higher uncertainty, lack of collateral and imperfect screening and monitoring. The project is in line with the objectives of Horizon Europe program.

The project will deliver an improved platform for digital PCR which has a broad application in life science research and molecular diagnostics. Applications can be found in liquid biopsies, infectious diseases, absolute quantification needed in testing such DNA methylation, viral titering, and disease-related gene amplifications, among others.

EIBs financing would be complementary to European VC investors and would provide a signalling effect to crowd-in other capital providers, which are necessary for the completion of the product development stage and commencing commercial operations.

The project mainly concerns investments in R&D that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Full environmental details will be verified during the appraisal.

The Promoter is a private company not operating in the utilities sector and not having the status of a contracting authority; thus, the project is not covered by the EU Directives on procurement. However, the Promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The Bank's services will verify details during the project due diligence.

Stilla Technologies is a a French medtech company focused on accelerating the development of next-generation genetic tests by providing a ground-breaking and flexible dPCR solution: the naica® system ("Naica"). Since its incorporation in 2013, the company has developed the dPCR platform "Naica," commercially available in research laboratories since 2016 and used by researchers around the world in a wide range of genetic tests and molecular biology assays.