The financing will further scale
BillionToOne's prenatal screening and oncology diagnostics
businesses
MENLO
PARK, Calif., June 21,
2024 /PRNewswire/ -- BillionToOne, a next-generation
molecular diagnostics company, announced today that it has raised
$130 million in an oversubscribed,
upsized Series D round. The financing was led by Premji Invest,
with significant participation by another incoming investor,
Neuberger Berman, as well as by prominent existing investors,
including Adam Street Partners, Baillie Gifford, Hummingbird
Ventures, Civilization Ventures, Libertus Capital, and Fifty Years.
The funding will be used for expanding and scaling BillionToOne's
prenatal and oncology businesses.
BillionToOne's unique technology, Quantitative Counting
Templates™, QCTs™, enables counting DNA molecules with single
base-pair precision, and it has allowed the company to develop
truly differentiated tests that redefine the possibilities of
molecular diagnostics. Over 500K
patients have received BillionToOne tests to date, and BillionToOne
has grown from $0M to $125M ARR in the last ~4 years.
UNITY Fetal Risk™ Screen is the first-and-only
prenatal test of its kind. The test leverages fetal cell-free DNA
to provide direct insights into fetal risk for aneuploidies and
common recessively inherited conditions, such as sickle cell
disease, spinal muscular atrophy, and cystic fibrosis, without
requiring a blood sample from the male partner or amniocentesis.
BillionToOne's complementary oncology liquid biopsy products,
Northstar Select® and Northstar Response®, enable clinicians
to select the right therapies and monitor patients' responses to
therapies, particularly in late-stage cancer patients. Northstar
Select® achieves a 2-5x lower limit of detection compared to
other assays on the market, and Northstar Response® is a
methylation-based ctDNA assay with 10x precision than SNV-based
assays, validated across different cancer types to assess the
treatment response in late-stage cancer patients.
Akshay Rai, who has led the
Series D round and is joining BillionToOne's Board of Directors,
said, "At Premji Invest, we aim to partner with exceptional teams,
solving difficult problems while building enduring businesses. We
are thrilled to be a part of BillionToOne's journey to create an
industry-leading molecular diagnostics platform. BillionToOne has
made great progress in transforming the prenatal segment over the
last few years, and after seeing the initial growth and potential
of their liquid biopsy products, we are excited by the platform's
potential in expanding the diagnostics options available to
clinicians in other specialties."
With the latest investment, BillionToOne's total capital raised
to date totals nearly $400 million.
This round adds to an impressive list of existing investors,
including NeoTribe Ventures, Norwest Venture Partners, Four Rivers
Group, and Y Combinator.
To learn more about BillionToOne, please visit
www.billiontoone.com.
About BillionToOne
Headquartered in Menlo Park, California, BillionToOne is a
precision diagnostics company on a mission to make molecular
diagnostics more powerful, efficient, and accessible for all. The
company's patented Quantitative Counting Technology™ (QCT™)
molecular counting platform is the only multiplex technology that
can accurately count DNA molecules at the single-molecule level.
For more information, visit www.billiontoone.com.
Media Contact: Sara Zick,
billiontoone@moxiegrouppr.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/leading-molecular-diagnostics-company-billiontoone-raises-130-million-in-oversubscribed-series-d-funding-over-1b-valuation-302179324.html
SOURCE BillionToOne