Molecular diagnostics firm BillionToOne has signed a $140 million nondilutive financing agreement with Oberland Capital Management.
The financing entails an initial note of $50 million intended to repay the company's existing $35 million term loan, with additional tranches totaling $90 million.
In a statement, the Menlo Park, CA-based BillionToOne said the additional funding will support its future growth. The firm added that its sales have grown to $125 million over the last four years, and it has provided tests to over 500,000 patients to date. The firm's Quantitative Counting Templates technology enables counting DNA molecules with single base-pair precision.
BillionToOne's Unity Fetal Risk Screen is a single-gene noninvasive prenatal test that analyzes fetal DNA to test for both aneuploidies and common inherited recessive conditions, such as sickle cell disease, spinal muscular atrophy, and cystic fibrosis, without requiring a blood sample from the male partner or amniocentesis.
The company has also released two complementary oncology liquid biopsy products, Northstar Select and Northstar Response, designed to assist clinicians in selecting the most appropriate therapies for patients and then monitoring patients' responses to therapies, respectively.
