The Business of Biofabrication

Vancouver, BC, Canada – July 10, 2024 – Aspect Biosystems, a biotech company which has chosen to focus on bioprinting tissue therapeutics, has secured a $72.75 million investment from the Canadian and British Columbian governments.

This funding is a significant contribution to a $200 million, multi-year initiative aimed at enhancing Aspect’s clinical biomanufacturing capabilities, comprehensive tissue therapeutic platform, and pipeline of bioprinted tissue treatments. These cutting-edge therapeutics aim to replace, repair, or supplement biological functions, offering a new wave of treatments and potential cures for challenging diseases.

This project will benefit from Aspect’s landmark collaboration with global healthcare giant Novo Nordisk, focusing on diabetes and obesity, and will also propel Aspect’s internal efforts to address other serious metabolic and endocrine disorders, such as liver disease.

Tamer Mohamed, CEO of Aspect Biosystems, stated, “This major investment from the Governments of Canada and B.C. underscores their support for the development and clinical manufacturing of new medicines for serious diseases. It marks a significant advance in our mission to create a new class of regenerative medicine, establishing Aspect as a leading biotech company with a global impact.”

The announcement took place at Aspect Biosystems’ headquarters in Vancouver, with the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Brenda Bailey, Minister of Jobs, Economic Development and Innovation for British Columbia, in attendance.

“Today’s investment in Aspect Biosystems bolsters Canada’s biotech sector, enhancing our innovation and leadership in healthcare,” remarked François-Philippe Champagne. “It accelerates our transition from concepts to globally competitive products, while strengthening our health emergency responses, attracting international investments, and creating high-quality jobs for Canadians. British Columbia’s exceptional talent pool further propels our leadership in next-generation medicines.”

Brenda Bailey added, “B.C. is home to the fastest growing life sciences sector in Canada, gaining global recognition for the groundbreaking work being done here. Supporting B.C.-based life sciences and biomanufacturing companies like Aspect is improving healthcare outcomes for British Columbians and creating hundreds of new, high-paying, highly skilled jobs.”

Original information can be found on Aspect Biosystems’ article of the news.