Vancouver biotech Aspect Biosystems today announced that it has received a $72.75 million investment from the Governments of Canada and British Columbia.
The UBC Spinout is pioneering the development of bioprinted tissue therapeutics to transform how we treat currently incurable diseases and was named to Fast Company’s annual Next Big Things in Tech list last year.
The investment will support a $200 million, multi-year project to advance Aspect’s unique clinical biomanufacturing capabilities, full-stack tissue therapeutic platform, and pipeline of bioprinted tissue therapeutics.
These next generation therapeutics are designed to replace, repair, or supplement biological functions in the body with the aim of delivering a new class of truly disease-modifying treatments and functional cures for some of the most elusive diseases.
This project will leverage Aspect’s landmark partnership with global healthcare leader Novo Nordisk in diabetes and obesity as well as accelerate Aspect’s own internal therapeutic pipeline for other serious metabolic and endocrine diseases, including liver disease.
“This significant investment from the Governments of Canada and B.C. sends a strong signal of support for building and integrating the capabilities needed to discover, develop, and clinically manufacture new medicines for people with serious diseases,” said Tamer Mohamed, Chief Executive Officer, Aspect Biosystems.
“This is a major step forward on our bold mission to pioneer an entirely new category of regenerative medicine and build an enduring and globally leading biotech that is delivering sustainable, life-changing impact to patients at home and around the world.”
The partnership was announced at Aspect Biosystems’ HQ in Vancouver by the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry alongside the Honourable Brenda Bailey, Minister of Jobs, Economic Development and Innovation for British Columbia.
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