Pioneering solutions for metabolic and endocrine diseases, Vancouver-based Aspect Biosystems raised $115 million in Series B funding to advance its bioprinted tissue technology. Led by investment firm Dimension, the round included participation from existing and new investors like Novo Nordisk, Radical Ventures, Pangea Ventures, and Innovate BC. This brings Aspect Biosystems total to over $196 million in funding over 15 rounds.
The funds will help accelerate Aspect Biosystems’ development of treatments for diseases such as diabetes and obesity. This investment will also boost Aspect Biosystems’ platform, which combines AI-powered bioprinting, design tools, therapeutic cells, and biomaterials.
Scientist at bioprinter.
A New Frontier in Regenerative Medicine
Aspect Biosystems has been carving out a new category in regenerative medicine by working on bioprinted tissues to replace or restore biological functions within the body. This approach aims to deliver cellular therapies capable of transforming outcomes for patients with complex and chronic diseases.
Recent partnerships show the company’s progress. Last year, Aspect Biosystems secured a CA$200 million ($138 million) agreement with the governments of Canada and British Columbia to expand its operations and a multibillion-dollar collaboration with Novo Nordisk targeting diabetes and obesity, including $75 million upfront and potential milestone payments of up to $650 million per product. These collaborations underscore Aspect Biosystems’ commitment to tackling some of the most pressing challenges in healthcare.
In the world of bioprinting, where many companies are still in early stages or rely on smaller funding rounds, Aspect Biosystems’ ability to secure such large-scale partnerships demonstrates a very important investor confidence.
Scientists at bioprinter.
Tamer Mohamed, Founder and CEO of Aspect Biosystems says “I am incredibly proud of the progress our team is making on our mission to develop disease-modifying treatments for people living with serious diseases. This financing allows us to advance our programs toward the clinic and ultimately transform patient outcomes for the better.”
Dimension’s Founder Nan Li said the firm is eager to see what Aspect Biosystems will create next, highlighting its multidisciplinary approach as a key strength. Li believes the bioprinting firm will play a crucial role in the future of regenerative medicine and build a company with a lasting impact. Li has also joined Aspect Biosystems Board of Directors.
Aspect Biosystems CEO Tamer Mohamed.
Aspect Biosystems’ full-stack tissue therapeutic platform stands out as a key differentiator. By combining proprietary bioprinting technology with AI and advanced biomaterials, the platform helps the design and manufacture bioprinted tissues tailored to address specific diseases. The Series B funding will be key in expanding the platform’s capabilities, allowing Aspect Biosystems to move multiple therapeutic candidates closer to clinical trials.
A Growing Market for Bioprinted Therapies
The promise of bioprinted tissue therapeutics lies in their potential to revolutionize regenerative medicine. Unlike traditional treatments, these therapies are designed to repair or replace damaged tissues, offering long-term solutions for conditions like diabetes and liver failure.
Aspect Biosystems’ approach is particularly timely as the global regenerative medicine market grows. It is advancing its bioprinted tissue therapeutics through preclinical studies, mainly focusing on liver and pancreatic tissues. For instance, Aspect Biosystems recently presented promising preclinical data on its bioprinted liver tissue platform at The Liver Meeting 2023, hosted by the American Association for the Study of Liver Diseases (AASLD). What’s more, the company is looking forward to initiating clinical trials and eventually delivering bioprinted tissue therapies to patients.
Scientist with a pipette.
AspectBiosystems” focus on metabolic and endocrine diseases is particularly timely, given the significant number of people affected globally. For instance, over 800 million adults worldwide are living with diabetes, a number that has more than quadrupled since 1990. Additionally, in 2022, 1 in 8 people globally were living with obesity, a significant risk factor for various metabolic disorders. These numbers point to an urgent need for new treatments in regenerative medicine. Luckily, analysts predict that integrating AI, biomaterials, and bioprinting technologies will drive powerful advances.
With support from top investors and partnerships with global leaders like Novo Nordisk, Aspect Biosystems could make a real difference. The company is moving closer to delivering its bioprinted tissue therapies, opening the door to treatments that could change the lives of millions with chronic illnesses.
All images courtesy of Aspect Biosystems.
Subscribe to Our Email Newsletter
Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.
