Biomilq secures $21m in Series A funding round
US biotechnology company Biomilq has secured $21 million in Series A funding, as it aims to bring cell-cultured human milk to market.
The funding was led by global life science investor Novo Holdings, with participation from Breakthrough Energy Ventures, Blue Horizon, Spero Ventures, Digitalis Ventures, Green Generation Fund and Gaingels.
The investment will help Biomilq produce cell-based human milk that mimics the nutritional value of human breast milk and with a lower carbon footprint than traditional bovine-based infant formula.
Kartik Dharmadhikari, Novo Holdings’ partner and Biomilq’s board director, said: “Our mission is to make a growing and positive impact on health, science and society. We are delighted to support Biomilq through its journey pioneering mammary biotechnology.”
Dharmadhikari continued: “Its products have the potential to disrupt the infant supplemental feeding industry. We aim to use our scientific knowledge, operational expertise and global network to further strengthen the company’s ability to improve lives.”
In 2020, Biomilq raised $3.5 million in funding to continue producing cultured breastmilk that offers supplemental nutrition to mother’s milk.