Molecular diagnostics firm BillionToOne has raised $125m through a Series C funding round to expand its commercial and clinical teams and scale-up laboratory capacity.
New investor Adam Street Partners and existing investor Hummingbird Ventures co-led the financing round.
Norwest Venture Partners, Fifty Years VC, Baillie Gifford, Neotribe Ventures, Civilization Ventures, Pacific 8 Ventures, Time BioVentures and Libertus Capital also participated in the round.
BillionToOne also intends to use the new funding to conduct clinical trials of its Unity Screen prenatal liquid biopsy test.
This non-invasive prenatal test (NIPT) is designed to evaluate the fetal risk for common and serious genetic conditions, including Cystic Fibrosis, Spinal Muscular Atrophy, Sickle Cell Disease, Thalassemias, Trisomy 21 (Down Syndrome), Trisomy 18 (Edwards Syndrome), Trisomy 13 (Patau Syndrome) and Sex Chromosome Aneuploidy.
It can screen for the conditions using a single maternal blood sample.
Early detection of fetal risk can have a significant impact on a baby’s health outcomes.
BillionToOne co-founder and CEO Oguzhan Atay said: “Our prenatal test is solving a critical unmet medical need. We continue to grow at an incredible rate, and we are building out an ever-increasing set of larger laboratory facilities.
“The current funding will be used to support our prenatal test growth while launching our differentiated liquid biopsy test that will transform oncology care.”
The company noted that Thomas Bremner from Adams Street Partners will also join its board of directors.
In 2020, BillionToOne’s Covid-19 diagnostic test received emergency use authorisation (EUA) from the US Food and Drug Administration (FDA).