Novo Holdings Leads US$21M Series A Financing in BI-OMILQ
- Funds will be used to support the development of pioneering mammary biotechnology to bring a novel infant feeding option to market that better meets infants’ nutritional needs
- Syndicate includes leading clean tech and food tech investors
Copenhagen, Denmark – 20 October 2021 – Novo Holdings, a leading international life science investor, today announces it has led the US$21 million Series A financing in BIOMILQ, Inc. (“BIOMILQ”), a first-of-its-kind mammary biotechnology company.
BIOMILQ is developing a novel infant feeding option, derived from human mammary cells, to better meet infants’ nutritional needs and with a lower carbon footprint than traditional bovine-based infant formula. Earlier this year, BIOMILQ announced it had successfully produced a milk product with many of the same macronutrients that are known to be abundantly present in breastmilk in its lab based in Research Triangle Park in North Carolina, US.