BillionToOne
- Industry
- Biotechnology & Health Diagnostics
- Founded Year
- 2016
- Headquarters
- Menlo Park, California, United States
- Employee Count
- 455
Key People
- Oguzhan Atay - Co-Founder and Chief Executive Officer
- David Tsao - Co-Founder and Chief Technology Officer
- Ross Taylor - Chief Financial Officer
- Shan Riku - Chief Product Officer
- Swaroop Kolluri - Board Member
- Firat Ileri - Board Member
- Thomas Bremner - Board Member
- Akshay Rai - Board Member
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful backgrounds in medical technology and diagnostics.
The presence of multiple successful MedTech entrepreneurs in the leadership team enhances the company's capability to navigate the complex landscape of molecular diagnostics, fostering innovation and strategic growth.
- Clinical Need
-
Aspect: Very Strong
Summary: BillionToOne addresses critical gaps in prenatal and oncology diagnostics with its advanced molecular counting technology.
By providing non-invasive, accurate, and efficient diagnostic tests, BillionToOne fulfills a substantial clinical need, particularly in prenatal screening and oncology, where early and precise detection is crucial.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The diagnostics market is highly competitive, with established players and strategic entrants.
The presence of numerous competitors, including large strategic companies, intensifies the competitive landscape, requiring BillionToOne to continuously innovate and differentiate its offerings to maintain and grow its market share.
- Technical Challenge
-
Aspect: Predictable
Summary: The company's proprietary technology offers a predictable path for product development and scaling.
BillionToOne's Quantitative Counting Technology provides a solid foundation for developing diagnostic tests, allowing for predictable scaling and adaptation to various diagnostic applications.
- Patent
-
Aspect: Very Strong
Summary: The company holds robust patents for its molecular counting platform.
Holding strong patents for its proprietary technology secures BillionToOne's innovations, providing a competitive edge and potential for licensing opportunities.
- Financing
-
Aspect: Well-funded
Summary: BillionToOne has secured substantial funding, including a $130 million Series D round in 2024.
The company's strong financial backing enables sustained investment in technology development, operational scaling, and market penetration strategies.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company has achieved necessary regulatory approvals for its diagnostic tests.
Obtaining 510(k) and PMA approvals demonstrates the safety and efficacy of BillionToOne's products, essential for gaining trust among healthcare providers and patients.
Opportunity Rollup
- Odds of Success
- 3.2
- Peak Market Share
- 3.75
- Segment CAGR
- 1.9%
- Market Segment
- In Vitro Diagnostics
- Market Sub Segment
- Prenatal and Oncology Diagnostics
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.19 |
| 2 | 0.56 |
| 3 | 1.31 |
| 4 | 2.62 |
| 5 | 3.75 |
Key Takeaway
BillionToOne's innovative molecular diagnostics technology positions it well in the growing non-invasive diagnostics market, despite facing a competitive landscape.