BillionToOne Announces $48.5M Equity and $35M Debt Financing for Next-Gen Molecular Diagnostics
Gunderson Dettmer represented client BillionToOne, a next-generation molecular diagnostic company, in its $48.5 million financing by existing equity investors including Libertus Capital, Adams Street Partners, Hummingbird Ventures, Neotribe Ventures, Norwest Venture Partners, Time BioVentures, Fifty Years VC, and Baillie Gifford. Gunderson also assisted the Company in upsizing its term debt facility with access to up to $35 million from Bridge Bank.
The company’s fundraising to date totals $280 million. This latest round will be used to execute BTO’s growth strategy for its prenatal and oncology products.
In the announcement of the transactions, co-founder and CEO of BillionToOne Oguzhan Atay, Ph.D., said, "I am thrilled that our existing investors and Bridge Bank are aligned with our powerful vision to transform healthcare and believe we have the right technology and team to do it. This additional funding speaks to their continued belief in us. I am honored to have each of them as our partners on this journey."
The Gunderson Dettmer deal team was led by Nick Harley and included Colin Chapman, Ryan Enchelmayer, Nate Gray, Jessica Crabill, Lauren Lockett, and Anthony Farnesi.
Adams Street Partners
Norwest Venture Partners
Fifty Years VC