Aspect Biosystems Announces $200 Million Partnership with the Governments of Canada and British Columbia to Advance Development of Bioprinted Tissue Therapeutics
Summary
Government investment in Aspect Biosystems will accelerate development of truly disease-modifying treatments and functional cures for people with serious metabolic and endocrine diseasesVANCOUVER, British Columbia--(BUSINESS WIRE)-- 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 Aspects 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 Aspects landmark partnership with global healthcare leader Novo Nordisk in diabetes and obesity as well as accelerate Aspects 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. 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. 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.