Hera Biotech is developing a new diagnostic test for endometriosis that is more accurate and less invasive than current methods. The company was founded by Somer Baburek, a former venture capitalist, who saw a need for better diagnostic tools for this condition. Hera Biotech is currently seeking funding to finalize product development and launch its first diagnostic product to market.
Endometriosis: Hera Biotech Offers New Hope
Baburek, the visionary behind San Antonio, Texas-based Hera Biotech, has embarked on a mission to reshape the landscape of women’s health, particularly in endometriosis diagnosis and treatment. Her journey began in February 2020, fueled by a deep passion for women’s health, a personal connection to the challenges of endometriosis, and her career working in venture capital.
The company’s name, Hera, is a nod to the Greek goddess of women, marriage, and childbirth, symbolizing the company’s dedication to improving women’s lives. Hera Biotech’s primary focus is on the diagnosis and progression tracking of endometriosis, a debilitating condition that affects millions of women worldwide.
Baburek’s personal experiences with the struggles her sister and niece had with endometriosis further ignited her determination to find better solutions for this often misunderstood condition. She recognized the limitations of current diagnostic methods—which frequently involve invasive procedures—and sought to develop a more accurate and patient-friendly approach.
Many other women struggle with a lack of diagnosis. ”It took me 15 years and laparoscopic surgery to finally receive an official Stage 3, Deep Infiltrating Endometriosis diagnosis,” described Kelly Neupert, a patient. “It wasn’t the chronic pain, bloody bowel movements, or restrictions on my daily functioning that got the doctor’s attention. It was my own advocacy that jump-started the egg-freezing process, leading doctors to find they could no longer see my left ovary, something they had clear ultrasounds of 2 years prior but that was now enveloped in tissue.”
Endometriosis is a prevalent condition among women of reproductive age, often leading to pain and infertility. The U.S. Office on Women’s Health reports that up to 11% of American women may have endometriosis, which translates to over 6.5 million women. The World Health Organization (WHO) estimates that approximately 10% of women and girls globally are affected by endometriosis, equating to about 190 million individuals. The global market for endometriosis products and services is expected to more than triple, from $1.2 billion in 2021 to $3.9 billion by 2031. But, only about $1.2 billion (less than 2.0% of all venture capital) was invested in femtech startups.
“What drew me to Hera over others in the space, was their scientific approach to solving the problem,” said Dr. Silvia Mah, Ph.D. Analyzing genes causatively related to the disease, in the very tissue responsible for lesion formation, rather than indirect approaches, is exactly the rationale that a scientist like myself needs to see. As a seasoned investor, Somer’s commercialization prowess matched with business acumen showcased a deeply rooted founder-market fit that will ensure the business scales efficiently.”
Baburek’s entrepreneurial spirit was evident at the University of Texas, where she focused on entrepreneurship and developed an award-winning medical device. Her experience as a VC further solidified her passion for women’s health and provided the foundation for her to launch Hera Biotech.
“There’s a lot of opportunity to look mechanistically at the disease and the tissue responsible for endometriosis and try to understand what causes the tissue to do what it does,” said Baburek.
Since its inception, Hera Biotech has made significant strides in advancing its diagnostic technology. The company has evolved from a single assay—a laboratory procedure that measures or assesses a substance’s presence, amount, or activity—licensed from the University of Texas Health Science Center to a more streamlined and cost-effective process.
Hera Biotech acquired the only other tissue-based endometriosis test being developed, further solidifying its position in the field.
Hera Biotech has raised $3 million in seed and bridge rounds, demonstrating investors’ confidence in the company’s potential. The company is currently seeking $5 million Series A funding to finalize product development and launch its first diagnostic product to market.
Bridging the Funding Gap in Women’s Health
One of the biggest challenges Baburek has faced is the need for more funding for hard science solutions in women’s health. The initial wave of investment in women’s health, often called “femtech,” has largely focused on digital solutions and wellness products. While these solutions are essential, they frequently overlook the complex medical challenges that require more in-depth scientific research and development. “There are a large number of really hard problems that we need to tackle in women’s health—endometriosis, PCOS, adenomyosis, heart disease. All of these things will require hard science solutions,” explains Baburek.
This funding gap has created a problematic landscape for companies like Hera Biotech, which is developing much-needed diagnostic tools and therapies for conditions like endometriosis. Baburek highlights the disconnect between the focus of women’s health funds and the needs of hard science companies, emphasizing the need for greater investment in research and development.
Hard science companies like Hera, Matrivial, or AOA have been stuck between a rock and a hard place because the traditional life science investors weren’t investing in women’s health. This led to a new focus on women’s health funds. But closing the gender funding gap in healthcare requires funding hard science solutions, which can come from research grants to academic institutions and individuals, and commercializing the research into patient solutions.
Baburek advocates for a shift in the investment landscape to overcome this barrier, encouraging new and established women’s health funds to prioritize hard science solutions. She stresses the importance of educating investors about the “blue ocean opportunity” in this space, emphasizing the potential for market protection and first-mover advantage for companies that successfully navigate the regulatory hurdles.
Another obstacle Baburek has encountered is the expectation for CEOs in life sciences to hold a Ph.D. “What’s crazy about it is that if you look at the big life science companies, none of those CEOs have Ph.D.s,” sighs Baburek. “They’re all MBAs, and their Chief Scientific Officers are usually MD/Ph.D.s. We have a different standard for the startup versus industry leaders.”
Ph.D.s may have been trained in a specific science in far more depth than Baburek, but they still need to learn more about bringing solutions to market. You don’t need to be an MD, Ph.D., or scientist to solve a problem in healthcare. People closest to the problem are usually the best suited for the solution. Hera has four Ph.D. scientists on her team.
When seeking funding, how are you overcoming funder misconceptions?