Molecular diagnostics company BillionToOne (BLLN.US) applies for a US stock IPO to raise $100 million

Zhitong Finance App learned that molecular diagnostic company BillionToOne (focusing on developing prenatal and oncology diagnostic technology based on single-molecule sequencing platforms) submitted an application to the US Securities and Exchange Commission (SEC) on Tuesday and plans to raise up to 100 million US dollars through an initial public offering (IPO).

Focusing on the field of molecular diagnostics, BillionToOne develops prenatal and tumor testing products based on its single-molecule next-generation sequencing (SMNGs) platform — only a simple blood draw can provide clinically instructive test findings. In 2019, the company launched its first prenatal testing product, UNITY, which is the world's first non-invasive prenatal testing technology based on free DNA (cell-free DNA). It can assess the risk of hidden fetal diseases without collecting paternal samples or performing invasive procedures.

In 2023, the company will further launch two complementary pan-cancer liquid biopsy testing products: one is Northstar Select to guide treatment options, and the other is Northstar Response, which is based on methylation technology — this test quantifies cancer load at the single-molecule level without tissue biopsy.

The company, headquartered in Menlo Park, California, was founded in 2016 and achieved revenue of $209 million in the 12 months ending June 30, 2025. The company plans to list on the NASDAQ stock exchange under the ticker symbol “BLLN.” Previously, BillionToOne submitted a confidential IPO application on June 20, 2025. The joint bookkeepers of this transaction include J.P. Morgan Chase, Piper Sandler (Piper Sandler), Jefferies, William Blair (William Blair), Stifel (Stifel), Wells Fargo Securities, and BTIG. Currently, the company has not disclosed the terms related to IPO pricing.