BillionToOne, which develops prenatal and oncology diagnostics using a single molecule sequencing platform, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
BillionToOne is focused on the field of molecular diagnostics, using its single molecule next-generation sequencing (smNGS) platform to develop prenatal and oncology products that reveal actionable insights from a simple blood draw. In 2019, the company launched its first prenatal product, UNITY, which is the first non-invasive prenatal test that uses cell-free DNA to provide fetal risk assessment for recessive conditions without requiring a paternal sample or invasive procedures. In 2023, the company launched two complementary pan-cancer liquid biopsy tests: Northstar Select, which is used to guide therapy selection, and Northstar Response, a methylation-based assay that quantifies the amount of cancer at the single molecule level without requiring a tissue biopsy.
The Menlo Park, CA-based company was founded in 2016 and booked $209 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol BLLN. BillionToOne filed confidentially on June 20, 2025. J.P. Morgan, Piper Sandler, Jefferies, William Blair, Stifel, Wells Fargo Securities, and BTIG are the joint bookrunners on the deal. No pricing terms were disclosed.
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