GLOBAL NEWS HEALTHCARE

Aspect Biosystems Announces $20 Million Series-A Financing to Advance its 3D Bioprinting of Human Tissue Platform

3D Bioprinting
3D Bioprinting
Above: The complete Aspect Biosystems offering/Image Credit: Aspect Biosystems

Aspect Biosystems, a biotechnology company pioneering microfluidic 3D bioprinting of human tissues, today announced a US $20 million Series-A financing round. Radical Ventures, a venture capital firm investing in entrepreneurs developing and applying deep tech to solve global problems and transform massive industries, led the round with participation from existing and new investors, including Pangaea Ventures, Pallasite Ventures, and Rhino Ventures.

Aspect Biosystems will use this capital to advance multiple tissue therapeutic programs, expand its technology platform capabilities, and grow its world-leading team. 

Aspect’s broadly applicable technology platform enables the creation of living human tissues with unprecedented control, flexibility, and precision. In addition to Aspect’s internal tissue therapeutic programs for regenerative medicine, the Company works with its global partners to create high-value solutions that will transform medical research and clinical practice. 

Speaking about the funding round, Tamer Mohamed, CEO of Aspect Biosystems commented, “We are thrilled to close this important institutional financing round with a group of world-class investors who believe in our bold vision. This funding speaks to the power of our technology and strategy in addressing multiple applications in therapeutic discovery and regenerative medicine, and will allow us to accelerate internal innovation and expand our global partnerships.  With our technology platform, interdisciplinary team of scientists and engineers, and leading collaborators, we are developing a new wave of solutions that have the potential to transform how we heal injury and disease.”

According to Jordan Jacobs, managing partner, Radical Ventures, “We are very excited to partner with the excellent Aspect team to support the growth of their world-leading 3D bioprinting platform and the development of breakthrough technologies aimed at radically transforming human health.”

In November last year, Aspect Biosystems was also awarded funding of $148,000 from the Innovate BC Ignite Program for its collaboration with Prof. Konrad Walus at the University of British Columbia. The collaboration with UBC is focused on developing machine-learning based technology to improve the quality of our 3D printing. The resulting 3D printed tissues will be used to radically advance the future of drug development and regenerative medicine.

About Aspect Biosystems: Aspect Biosystems is a privately held biotechnology platform company pioneering the microfluidic 3D bioprinting of human tissues. Aspect is focused on partnering with academic institutions and biopharma companies to facilitate high-value discovery and development. The Company is also advancing internal tissue therapeutic programs for regenerative medicine, with an initial focus on metabolic diseases and musculoskeletal injuries and disorders.


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