BillionToOne, a molecular diagnostics company specializing in prenatal and tumor testing, has submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), planning to raise $100 million. Founded in 2016 and headquartered in Menlo Park, California, the company develops diagnostic products using its single-molecule next-generation sequencing platform. Its product portfolio includes UNITY, the first non-invasive prenatal test based on cell-free DNA, as well as two pan-cancer liquid biopsy tests, Northstar Select and Northstar Response, which guide treatment planning and quantify cancer burden without tissue biopsies.
The company reported $209 million in revenue for the 12 months ending June 30, 2025. Co-managers for the offering include JP Morgan, Piper Sandler, Jefferies, William Blair, Stifel, Wells Fargo Securities, and BTIG. The IPO will provide BillionToOne with capital to support its operations and expand its molecular diagnostic testing platforms. The company previously submitted its IPO application confidentially on June 20, 2025, and has not disclosed any pricing details.
