Yahoo Finance

More VCs are seeking opportunities in biotech amid increased awareness about the space due to the pandemic, as noted by Laura Katz, CEO and founder of synthetic breast milk startup Helaina.

Heleina was among startups featured in the Nov. 4 health conference at Web Summit in Lisbon, Portugal. Founded in 2019, the biotech startup has been producing immune-supporting proteins primarily for use in its synthetic infant milk, but also for use in other foodstuffs. Katz, whose company raised a $20 million Series A last year led by Spark Capital and Siam Capital, says demand for such products has kept businesses like Heleina relatively insulated from the macro environment.

"We really think about food as medicine, so creating a platform that allows us to bring real immunity properties to food products is something people are always going to think about, especially right now," Katz told PitchBook during an interview at the event.
 
Katz added that many more generalist funds are interested in biotech startups, partly because investors understand the industry better in the wake of the pandemic.

"Everybody knows what an mRNA vaccine is now, and so a lot of these technologies are becoming more colloquial," she said. "It's more tangible for, maybe, more generalist funds to look at, so we're seeing a benefit from that in talking to investors."

This article originally appeared on PitchBook News