Aspect Biosystems Secures $115 Million Series B Financing to Advance Bioprinted Tissue Therapies

Jan 09, 2025 07:17 CST Updated 07:17

Aspect Biosystems

Biotechnology R&D Developer

Dimension

Early-stage Venture Capital Firms

Novo Nordisk

Insulin Developer and Manufacturer

Radical Ventures

Venture Capital Firms

Innovate BC

Innovate BC helps foster innovation in British Columbia, enabling people across all regions of the province to benefit from a thriving, sustainable, and inclusive innovation economy by funding the province’s entrepreneurial support programs. Innovate BC focuses on supporting tech startups and entrepreneurs through initiatives, sponsorships, and competitions that promote technology commercialization.

Pallasite Ventures

An institution providing early-stage financing to high-growth companies across various industries

Pangaea Ventures

A venture capital firm that invests in early-stage and growth-stage companies through advanced material innovations

Rhino Ventures

Strategic Investment Company

T1D Fund

Early-Stage Investment Fund

January 8,Vancouver, Canada – Aspect Biosystems, a biotechnology company pioneering the development of bioprinted tissue therapies as a new category in regenerative medicine, announced the completion of a US$115 million Series B financing. The round was led by Dimension, with participation from existing and new investors, including Novo Nordisk, Radical Ventures (an undisclosed global leading investment firm), InBC, Pallasite Ventures, Pangaea Ventures, Rhino Ventures, and T1D Fund: a Breakthrough T1D Venture.

This financing builds on Aspect's recent momentum, including a $200 million partnership with the Canadian and British Columbia governments, as well as a collaboration with Novo Nordisk focused on diabetes and obesity. The proceeds will enable Aspect to advance multiple bioprinted tissue therapies into clinical trials, with a mission to deliver a new class of cellular medicines and functional treatments for people with severe metabolic and endocrine disorders. Additionally, the funds will drive the expansion of Aspect’s industry-leading full-stack tissue therapeutics platform, which integrates proprietary AI-driven bioprinting technology, computational design tools, therapeutic cells, and advanced biomaterials.

Tamer Mohamed, Founder and CEO of Aspect Biosystems, said:"I am incredibly proud of the progress our team has made in our mission to develop disease-modifying therapies for people with serious illnesses. We are thrilled to partner with Dimension and this exceptional, mission-aligned coalition of investors. As we embark on the next chapter of our dedication to improving patient outcomes, we appreciate their support."

While raising funds, the founder and managing partner of DimensionNan LiAppointed as a member of the company's board of directors.

Nan Li, founder and managing partner of Dimension, said:"Aspect is the embodiment of a multidisciplinary company, and we believe these companies will define the next chapter of biotechnology. The company brings together capabilities in tissue engineering, cell therapy, biomaterials, computer vision, and robotics to fulfill the promise of regenerative medicine. We are thrilled to collaborate with the Aspect team to advance their projects and build a transformative company."

Follow the official account below to see the world!