Genetic Testing Platform BillionToOne Secures $85.3M in Private Funding, Loan Facility
BillionToOne, Inc., a Menlo Park, CA-based molecular diagnostics company, raised an additional $48.5mn of funding, as well as upsized its term loan facility with access to up to $35mn, extending the firm’s cash runway to the end of 2024 and enabling it to further develop and commercialize its noninvasive prenatal screening test and oncology products.
The new funding follows a $125 million Series C round earlier this year and came from existing investors in that round, including Libertus Capital, Hummingbird Ventures, Baillie Gifford, Adams Street Partners, Neotribe Ventures, Fifty Years VC, Norwest Venture Partners, and Time BioVentures.
The company also upsized its term loan facility with existing lender Bridge Bank and now has access to up to $35 million in loans.
Led by CEO Oguzhan Atay, the firm intends to make use of the funds to scale its UNITY Screen, which combines a maternal carrier screen and reflex single-gene noninvasive prenatal test (NIPT) and assist its plan to commercialize its liquid biopsy product line, Northstar Select and Northstar Response, in early 2023.
