Breaking Barriers in Biotech: An Exclusive Interview with Yuliana Mihaylova, CEO of OliveBio
Biotech is an ever-evolving field where innovation meets science to solve real-world problems. Today, we bring you an exclusive interview with Dr. Yuliana Mihaylova, a scientist, entrepreneur, and biotech executive who has made significant strides in molecular biology, genetics, and biotech startups. As the CEO of OliveBio and former Head of R&D at Basepaws, Yuliana shares her journey from psychology to biology, her passion for scientific innovation, and her mission to revolutionize bioplastics.
If you’re an aspiring scientist, entrepreneur, or simply passionate about leadership in STEM, this conversation is packed with insights and inspiration!
A Lifelong Passion for Biology: From Psychology to Biotech
Unlike many scientists who follow a linear academic path, Yuliana’s journey into biology was anything but conventional. She initially pursued a bachelor’s degree in psychology, but halfway through her studies, she had a realization:
“Two-thirds into my psychology degree, I knew I didn’t want to make a career out of it. I was far more drawn to biology, and I was sure that’s where my real passion lay.”
Determined to pivot, Yuliana took an unconventional approach. Instead of starting over with a new degree, she dedicated her spare time to self-learning biology and networking with professors at the University of Nottingham. Despite skepticism from many, one professor saw her potential and gave her an opportunity to intern in his lab.
“Most professors dismissed me. But one, who later became my PhD advisor, took a chance on me. I was determined to prove myself, and that internship led to a master’s, then a PhD, and ultimately shaped my entire career.”
This fearless transition into biology laid the foundation for everything that followed—her work in genetics, biotech consulting, and ultimately, her entrepreneurial ventures.
Building a Biotech Startup: The Journey of OliveBio
After spending five years at Basepaws, a pet genetics startup that was later acquired by a major animal pharma company, Yuliana felt ready to take the leap into entrepreneurship. She co-founded OliveBio, a company focused on bioplastics manufacturing—a sector driven by her passion for sustainability.
“During my PhD, I was shocked at the amount of plastic waste we generated in the lab. That thought never left me. After Basepaws, my husband and I had the breathing room to tackle a problem we deeply care about—plastic pollution.”
At OliveBio, Yuliana and her team are developing innovative, scalable, and sustainable bioplastics solutions that aim to reduce environmental waste and offer viable alternatives to petroleum-based plastics.
The Future of OliveBio: A Sustainable Vision
“Our mission with OliveBio is to make meaningful strides in solving the world’s plastics pollution crisis. Petrochemical plastics are so ubiquitous, and we’re learning more and more about their impact on human and animal health—from endocrine-disrupting chemicals leaching off plastics to the unknown effects of microplastics in our bodies.”
OliveBio is working to make the production of PHA bioplastics more scalable and cost-effective. PHAs degrade in freshwater, marine water, soil, and home composting significantly faster than other materials, without leaving microplastics behind.
“PHAs could be a transformational material if given a chance. Our goal is to drive their adoption across industries by making them a scalable and economically viable alternative to petroleum-based plastics.”
Challenges of Entrepreneurship & Fundraising in Biotech
Starting a biotech company comes with its own set of challenges, from securing funding to scaling operations. Yuliana shared her insights on navigating these hurdles:
• Fundraising Strategy:
“When talking to venture capitalists (VCs), you lead with money—how your product can scale and generate revenue and how financially impactful it would be to solve this particular problem with your particular invention. You may have a wonderful product with a great mission behind it, but if it has no good financial prospects, it is not a VC’s cup of tea. With non-dilutive funding, such as government grants for example, you lead with the strength of the science/technology and impact potential. Understanding your audience is key.”
• Standing Out as a Founder:
“Investors see hundreds of pitches daily. The crucial factor is differentiation. Our strength at OliveBio is our team. My co-founder and I have a proven track record of scaling a biotech startup successfully, which gives investors confidence.”
• Transitioning Across Industries:
“The biggest challenge when switching fields is credibility. People wonder, ‘What makes you think you can do this?’ The most important aspect is proving your ability to learn quickly and bring fresh perspectives that those entrenched in the industry might not see. Learning from industry veterans is important, but it is not a substitute for fresh ideas bridging different fields. I think the low-hanging fruits within most industries have already been picked. The next wave of big advances will come from merging ideas from different fields in new and original ways to solve previously unsolved problems.”
Women in Biotech: Breaking Barriers & Building Confidence
Biotech, like many STEM fields, still faces gender disparities, especially in leadership roles. Yuliana shared her perspective on the challenges women face in the industry:
“In academia, the gender ratio in biology is quite balanced, but as you move up the career ladder, you see fewer women. Societal expectations, lack of support for working mothers, and biases in hiring all contribute to this.”
She also highlighted the subtle biases women face when seeking leadership roles or funding. She recalled a conversation she heard where a female venture capitalist pointed out:
“When male entrepreneurs pitch their startups, investors ask, ‘How will you scale?’ But when women pitch, they are often asked, ‘How will you make sure you don’t fail?’ The key is to flip the narrative—instead of being on the defensive, focus on why you will succeed.”
How Yuliana Stays Motivated & Resilient
“It’s all about the stories we tell ourselves about ourselves. When I feel like I can’t go on, I look back at past challenges I’ve overcome and use those memories to push forward. I remind myself of my wins and let them guide me.”
She also values external perspectives:
“When everything feels overwhelming, having a trusted ally or friend to talk to helps. It allows you to put negative emotions aside and focus on what needs to be done.”
Rapid Fire Round with Yuliana Mihaylova 🚀
🔥 Books and podcasts that inspire you?
“I love fiction more than non-fiction, but on the non-fiction side, ‘Pre-Suasion’ by Robert Cialdini was eye-opening. On the fiction side, I’ve been enjoying WWII historical fiction by Kate Quinn, especially ‘The Diamond Eye’—a brilliant story about a woman excelling in a man’s world. My all-time favorites are ‘The Picture of Dorian Gray’ by Oscar Wilde and ‘Interview with the Vampire’ by Anne Rice—I’ve always been fascinated with the idea of immortality and how it affects the human mind.”
🔥 What’s your go-to stress reliever?
“Exercise! It transformed from something I pushed myself to do into something essential for my well-being.”
🔥 One person you look up to?
“Basepaws’ CEO – Anna Skaya. She changed my thinking and made me stop asking ‘Why me?’ and start asking ‘Why NOT me?’”
🔥 One word that describes you?
“Ambitious.”
🔥 Key habits for leadership success?
“Constant learning, taking risks, and surrounding yourself with people who push you forward.”
Final Thoughts
Yuliana Mihaylova’s story is a testament to resilience, adaptability, and the power of breaking barriers. From redefining her career path to leading innovation in biotech, she has shown that success is not about following a set formula—it’s about taking risks, embracing change, and believing in your ability to create impact.
Her journey reminds us that challenges are inevitable, but persistence, self-belief, and a willingness to learn can turn obstacles into stepping stones. Whether you’re navigating a career shift, breaking into leadership, or striving to build something meaningful, the core idea is to keep pushing forward, trust in your vision, and never let doubt define your path.
💡 What’s your biggest takeaway from Yuliana’s journey? Share your thoughts in the comments below!
