BillionToOne has made its public debut with a $273 million IPO, pricing 4.55 million shares at $60 each. The final pricing came in above the marketed range of $49 to $55, valuing the molecular diagnostics company at more than $2.6 billion. Filings show that Co-Founders Oguzhan Atay and David Tsao will retain about 64% of voting power following the offering, a structure that gives the leadership team firm control as the company scales. The deal was led by JPMorgan, Piper Sandler, Jefferies, and William Blair, with shares set to trade on the Nasdaq Global Select Market under the symbol BLLN.
The company enters the market with strong top-line momentum. Revenue reached $125.5 million in the first half of the year, up from $69.1 million a year earlier, and losses narrowed to $4.2 million over the same period. BillionToOne’s product portfolio spans prenatal screening and oncology, including its Unity Complete blood test and NorthStar liquid biopsy assays. The growth profile, combined with a diversified investor base including Hummingbird Ventures, Neotribe Ventures, and Libertus Capital, positions the company to expand in clinical diagnostics following a well-received offering.
