Canadian Government Invests $79 Million in Aspect Biosystems for 3D-Printed Tissue Therapy
Vancouver-based biotechnology company Aspect Biosystems has secured a $79 million investment from the Canadian federal government's Strategic Response Fund (SRF). This funding supports a broader $280 million project aimed at significantly enhancing the company's clinical development capabilities and strengthening its biomanufacturing platform for advanced cellular medicines. Aspect Biosystems, a University of British Columbia spinout founded in 2013, specializes in 3D bioprinting human tissues using stem cells and hydrogel polymers to create implants that could repair damaged organs, such as the pancreas in Type 1 diabetes patients. The company will contribute the remaining $201 million to the project. CEO Tamer Mohamed described the investment as a major step toward establishing a generational Canadian company delivering global therapies. This follows previous government support and a recent $165 million CAD Series B round. Additionally, Aspect continues its strategic partnership with Danish pharmaceutical giant Novo Nordisk, integrating their R&D expertise to advance tissue therapy development. The initiative highlights Canada's growing role in the biotech sector and aims to provide alternatives to traditional organ transplants with fewer side effects.
Wire timeline
Canadian Government Invests $79 Million in Aspect Biosystems for 3D-Printed Tissue Therapy
Vancouver-based biotechnology company Aspect Biosystems has secured a $79 million investment from the Canadian federal government's Strategic Response Fund (SRF). This funding supports a broader $280 million project aimed at significantly enhancing the company's clinical development capabilities and strengthening its biomanufacturing platform for advanced cellular medicines. Aspect Biosystems, a University of British Columbia spinout founded in 2013, specializes in 3D bioprinting human tissues using stem cells and hydrogel polymers to create implants that could repair damaged organs, such as the pancreas in Type 1 diabetes patients. The company will contribute the remaining $201 million to the project. CEO Tamer Mohamed described the investment as a major step toward establishing a generational Canadian company delivering global therapies. This follows previous government support and a recent $165 million CAD Series B round. Additionally, Aspect continues its strategic partnership with Danish pharmaceutical giant Novo Nordisk, integrating their R&D expertise to advance tissue therapy development. The initiative highlights Canada's growing role in the biotech sector and aims to provide alternatives to traditional organ transplants with fewer side effects.
BetaKit