Government investment in Aspect Biosystems will accelerate development of truly disease-modifying treatments and functional cures for people with serious metabolic and endocrine diseases
Vancouver, BC, Canada – July 10, 2024 – Aspect Biosystems, a biotechnology company pioneering the development of bioprinted tissue therapeutics, today announced that it has received a $72.75 million investment from the Governments of Canada and British Columbia.
The investment will support a $200 million, multi-year project to advance Aspect’s unique clinical biomanufacturing capabilities, full-stack tissue therapeutic platform, and pipeline of bioprinted tissue therapeutics. These next generation therapeutics are designed to replace, repair, or supplement biological functions in the body with the aim of delivering a new class of truly disease-modifying treatments and functional cures for some of the most elusive diseases.
This project will leverage Aspect’s landmark partnership with global healthcare leader Novo Nordisk in diabetes and obesity as well as accelerate Aspect’s own internal therapeutic pipeline for other serious metabolic and endocrine diseases, including liver disease.
“This significant investment from the Governments of Canada and B.C. sends a strong signal of support for building and integrating the capabilities needed to discover, develop, and clinically manufacture new medicines for people with serious diseases,” said Tamer Mohamed, Chief Executive Officer, Aspect Biosystems. “This is a major step forward on our bold mission to pioneer an entirely new category of regenerative medicine and build an enduring and globally leading biotech that is delivering sustainable, life-changing impact to patients at home and around the world.”
The partnership was announced at Aspect Biosystems’ headquarters in Vancouver by the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry alongside the Honourable Brenda Bailey, Minister of Jobs, Economic Development and Innovation for British Columbia.
“Today’s investment in Aspect Biosystems strengthens Canada’s biotech sector, enhancing innovation and leadership in health care,” said François-Philippe Champagne, Minister of Innovation, Science and Industry. “It accelerates our transition from ideas to globally competitive products, while also bolstering our response to health emergencies, attracting international investments and creating high-quality jobs for Canadians. British Columbia’s impressive talent pool further fuels our innovation and leadership in the next generation of medicines.”
“B.C. is home to the fastest growing life sciences sector in Canada and continues to get noticed on the global stage for the incredible work being done here,” said Brenda Bailey, B.C. Minister of Jobs, Economic Development and Innovation. “Helping B.C. based life sciences and biomanufacturing companies like Aspect anchor and grow in our province is enhancing health care outcomes for British Columbians and creating hundreds of new, high-paying, highly skilled jobs for people.”
About Aspect Biosystems
Aspect Biosystems is a biotechnology company pioneering the development of bioprinted tissue therapeutics to transform how we treat currently incurable diseases. Aspect is creating these next generation cell therapies by applying its full-stack tissue therapeutic platform, which combines the company’s proprietary bioprinting technology, computational tissue design, therapeutic cells, and biomaterials. Aspect’s bioprinted tissue therapeutics are designed to replace, repair, or supplement biological function inside the body with the aim of treating serious metabolic and endocrine diseases including diabetes, obesity, and liver disease. Learn more at www.aspectbiosystems.com.
Contact
Natalie Korenic
Aspect Biosystems
media@aspectbiosystems.com