US biotech company BIOMILQ, which produced human breast milk outside of the body for the first time this June, has raised $21 million in a Series A funding round.
BIOMILQ’s breast milk will provide a much-needed solution for parents who wish to breastfeed but aren’t able to. Conventional infant formulas are usually dairy-based, and as such not suitable for mothers who choose not to consume animal flesh or secretions. Additionally, dairy options struggle to match the nutritional profile of human breast milk.
The round was led by Novo Holdings and Breakthrough Energy Ventures, with support from others including Blue Horizon and Spero Ventures. The new Series A funding will allow the company to optimise the production process, launching commercially within the next four years.
After spending a few years getting off the ground, BIOMILQ has taken off in 2021. The company was featured at both Vegan Women Summit and the Future Food-Tech Summit this year, and was also named as one of the finalists at the ProteinX Foundation Awards.
“Michelle and I founded BIOMILQ on clear beliefs. Thoughtful planning and relationship building was required to find a commonality of mission among our partners,” said Leila Strickland, CSO and co-founder of BIOMILQ. “While we narrowed the aperture of possible partners, we’ve already seen the ripples of demanding a more representative world of venture capital.”
“We are beyond excited to continue supporting BIOMILQ and their unique solution for a problem that’s not talked about nearly enough. At least 60% of women struggle to breastfeed – the guilt and anxiety associated with this is unimaginable,” Lindsay McCorkle, Director of Blue Horizon, told vegconomist.
She added: “BIOMILQ’s technology will have innumerable benefits – maternal health, both mental and physical, in addition to providing infants with an unmatched nutritional formula substitute. BIOMILQ’s impressive technology paired with its thoughtful product approach make this an investment we are incredibly proud to be part of.”