MENLO PARK — BillionToOne, Inc., a molecular diagnostics company, has secured an additional $48.5 million of funding from existing equity investors as well as upsized its Term Loan Facility with access to up to $35 million, with its existing lender, Bridge Bank. With this additional funding, the Company has raised over $280 million since its first commercial product launch just three years ago.
The $48.5 million funding consists of additional investments from Series C investors including Libertus Capital, Hummingbird Ventures, Baillie Gifford, Adams Street Partners, Neotribe Ventures, Fifty Years VC, Norwest Venture Partners, and Time BioVentures.
Since closing its $125 million Series C fundraising in March 2022, BillionToOne says it has more than doubled its test volume and revenues. This additional funding, consisting of dilutive and non-dilutive capital, strengthens the Company’s liquidity position, increases its runway to the end of 2024, and provides it with the capital to execute on its growth strategy for both Prenatal and Oncology products. These funds will be used to continue to scale UNITY Screen, the only commercially available non-invasive prenatal test (NIPT) that assesses fetal risk for recessive conditions and red blood cell antigen incompatibility, in addition to aneuploidies, and support the Company’s plan to commercialize its liquid biopsy product line, Northstar Select and Northstar Response, in early 2023.
“I am thrilled that our existing investors and Bridge Bank are aligned with our powerful vision to transform healthcare and believe we have the right technology and team to do it. This additional funding speaks to their continued belief in us. I am honored to have each of them as our partners on this journey,” said Oguzhan Atay, Ph.D., co-founder and CEO.
“We have partnered with BillionToOne since its early days and have witnessed the company’s tremendous growth. They have a distinguished technology platform that has been gaining momentum as is evident from the rapid scaling of its test volumes. We are excited to support their growth trajectory, as they build a category defining company across both prenatal and oncology,” said Firat Ileri from Hummingbird Ventures, a Board Member and one of the lead investors at BillionToOne.
Brian Kirkpatrick, Vice President in Bridge Bank’s Life Sciences Group stated, “BillionToOne is truly differentiated in terms of its technology and talent. We have witnessed their perseverance as they continue to scale at a rapid pace. BillionToOne has a unique mix of technology and grit that is needed to maintain their accelerated pace of growth during these evolving financial times.”
BillionToOne was co-founded by Oguzhan Atay, Ph.D., and David Tsao, Ph.D.