Molecular diagnostics company BillionToOne (BLLN.US) plans to IPO with a fundraising target of 200 million US dollars, with a price range of 49 to 55 US dollars per share.

Molecular diagnostic company BillionToOne (BLLN.US) announced the terms of its initial public offering (IPO). The California-based company plans to raise $200 million by issuing 3.8 million shares of stock, with a price range of $49 to $55 per share. Based on the midpoint of the proposed price range, BillionToOne's fully diluted market value will reach $2.7 billion. BillionToOne focuses on the molecular diagnostics field, utilizing its single-molecule next-generation sequencing (smNGS) platform to develop prenatal and oncology products that can reveal meaningful insights with just a simple blood draw. In 2019, the company launched its first prenatal product, UNITY, which is a non-invasive prenatal testing for hidden genetic disease risks using cell-free DNA without the need for paternal samples or invasive procedures. In 2023, the company introduced two complementary pan-cancer liquid biopsy tests: Northstar Select for guiding treatment selection, and Northstar Response, a methylation-based test that quantifies the severity of cancer at a single-molecule level without the need for tissue biopsy. Founded in 2016, BillionToOne focuses on prenatal screening and cancer treatment monitoring. Its core technology, Quantitative Counting Templates, can detect DNA molecules with single base pair accuracy. In the 12 months ending on June 30, 2025, the company's revenue reached $2.09 billion. The company plans to list on the NASDAQ under the stock ticker BLLN. Joint lead underwriters for this transaction include J.P. Morgan, Jefferies Financial Group Inc., Goldman Sachs, and BTIG.