Aspect Biosystems, a Vancouver-based biotech company specializing in 3D-printed tissue implants, has secured $165 million CAD ($115 million USD) in a Series B funding round.
The financing will accelerate the company’s journey toward clinical trials for therapies targeting diseases like Type 1 diabetes and liver conditions.
Transforming Medicine with Bioprinting
Aspect Biosystems proprietary 3D bioprinting technology creates living tissue implants by combining stem cell-derived living cells with hydrogel polymers. These tissues are designed to replace or repair damaged biological systems, aiming to address chronic conditions:
- For Type 1 diabetes: Implanted tissues containing healthy beta cells could enable patients to produce their own insulin.
- For liver diseases: Tissues could restore or replace damaged organ functions, even when implanted away from the liver itself.
CEO Tamer Mohamed likens the technology to Star Trek’s replicator, emphasizing its potential to create healthy tissues on demand for life-altering treatments.
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Funding Details
The round was led by Dimension, a biopharma-focused investment firm, with participation from existing backers including Radical Ventures, InBC, Novo Nordisk, and others. Nan Li, Managing Partner at Dimension, joins Aspect’s board.
This funding brings Aspect’s total financing to over $260 million USD, positioning the company to transition from pre-clinical to clinical-stage trials within the next few years.
Strategic Partnerships and Growth Plans
Aspect’s funding builds on its collaboration with Novo Nordisk, initiated in 2023. The Danish pharmaceutical giant, known for its diabetes and obesity treatments, uses Aspect’s technology to develop new drugs and has committed up to $650 million USD in milestone payments per product.
Aspect is also working with government partners to establish Canada’s first clinical biomanufacturing facility, a $200 million project funded by the British Columbia and Canadian governments.
Market Potential
With the global bioprinting market expected to exceed $5 billion USD by 2030, Aspect is poised to play a pivotal role in addressing the needs of aging populations and increasing chronic disease prevalence. Despite securing substantial US investment, Mohamed is committed to keeping Aspect’s operations based in Canada:
“I’ve said before we aim to build a $100-billion anchor company here, and I wasn’t bluffing,” he stated.
Looking Ahead
Aspect Biosystems continues to expand its tissue therapeutic platform, integrating AI-driven design tools to enhance implant functionality. With this funding and strategic partnerships, the company is accelerating its mission to revolutionize healthcare through 3D-printed tissue solutions.
