BillionToOne, a molecular diagnostics firm based in Menlo Park, California, plans to raise approximately $211.5 million in its upcoming IPO aimed at a valuation exceeding $2 billion.
The company reported revenues of $125.5 million for the first half of 2025, up from $69 million in the same period last year.
BillionToOne’s platform includes non‑invasive prenatal screening and sophisticated liquid biopsy tests.
Its IPO filing targets up to 3.8 million shares priced between $49 and $55 per share, with J.P. Morgan, Wells Fargo and William Blair acting as joint book‑running managers.
Despite a recent U.S. government shutdown impacting regulatory processes, BillionToOne is proceeding with its listing on the Nasdaq under the ticker “BLLN”.
The company aims to upsize its public offering to bolster growth as diagnostics companies regain market momentum.
Its performance and market timing reflect renewed investor confidence in life‑sciences IPOs as biotech listings begin to recover.