NEW YORK – Molecular diagnostics firm BillionToOne said on Friday that it has raised $130 million in an oversubscribed and upsized Series D financing round.
The financing was led by Premji Invest with significant participation by incoming investor Neuberger Berman and existing investors, including Adam Street Partners, Baillie Gifford, Hummingbird Ventures, Civilization Ventures, Libertus Capital, and Fifty Years. Premji Invest's Akshay Rai, who led the Series D round, will also join BillionToOne's board of directors.
The Menlo Park, California-based company will use the funds to expand and scale its prenatal and oncology testing businesses.
The company's Quantitative Counting Templates (QCTs) technology enables the counting of DNA molecules with single base-pair precision. Using this technology, the company has developed the Unity Fetal Risk Screen, which examines 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. In December, the company announced that it would provide its cell-free fetal DNA assay to screen patients for eligibility for Johnson & Johnson's Phase III AZALEA trial of nipocalimab in pregnancies at risk for severe hemolytic disease of the fetus and newborn (HDFN).
Meanwhile, the company's oncology liquid biopsy products, Northstar Select and Northstar Response, are designed to enable clinicians to select appropriate therapies and monitor patient response, particularly in late-stage cancer patients. The company said more than 500,000 patients have received its tests to date. At the American Society of Clinical Oncology annual meeting earlier this month, the company presented two abstracts demonstrating the performance of its Northstar Select assay.
BillionToOne has raised nearly $400 million to date. Other existing investors include NeoTribe Ventures, Norwest Venture Partners, Four Rivers Group, and Y Combinator.