Genome BC Invests $1 million in Funding to Top Canadian 3D Bioprinting Company Aspect Biosystems
VANCOUVER, May 7, 2018 /CNW/ - Genome BC is pleased to announce $1 million in funding to Aspect Biosystems (Aspect), a privately held biotechnology company focused on commercializing cutting-edge 3D bioprinting technologies.
Aspect's Lab-on-a-Printer™ 3D bioprinting platform technology enables the rapid creation of functional living tissues. The therapeutic applications are broad and profound and have attracted the attention of global pharmaceutical and biotechnology companies.
"Genome BC's investment in Aspect Biosystems will provide funds to further their commercialization initiatives including partnership activities as well as development of their platform technology," says Dr. Tony Brooks, Chief Financial Officer and Vice President, Entrepreneurship and Commercialization at Genome BC. "Aspect has shown significant commercial traction in a very short period of time and we are pleased to support their continued growth."
Aspect's 3D bioprinting platform technology is enabling the development of next-generation engineered tissue products addressing multiple applications in therapeutic discovery and regenerative medicine. These products include predictive drug testing platforms as well as transplantable tissue therapeutics. In addition to its internal programs, Aspect is establishing strategic partnerships with pharma, biotech, and healthcare companies as well as academic researchers to realize the full potential of its broadly applicable platform technology. By combining their expertise and technology with domain experts in the field, Aspect is accelerating the development of innovative tissue applications and creating meaningful impact on medical research and practice.
"Genome BC is playing an instrumental role in accelerating British Columbia's most promising life science innovations and we are thrilled to have their support. With this additional financing, we are further increasing our capacity to meet key commercial demands and continuing our rapid growth as we work towards enabling the creation of human tissues on demand," says Tamer Mohamed, President and CEO, Aspect Biosystems.
Genome BC has invested in Aspect through its Industry Innovation (I²) program. The I² Fund provides commercialization support for companies developing innovative life science technologies that address biological challenges in key economic sectors in BC: Agriculture, Energy and Mining, Environment, Fisheries and Aquaculture, Forestry, and Human Health. The I² Fund also supports digital health and other technologies that further move precision medicine into clinical practice. I² funding is repayable and is allocated to promising technologies (products, processes or services) at the early stages of commercial development. The Fund aims to provide risk capital that is concurrently matched by other public or private funding sources.
About Aspect Biosystems:
Aspect Biosystems Ltd. is a privately held biotechnology company operating at the leading edge of 3D bioprinting and tissue engineering. The company's proprietary Lab-on-a-Printer™ platform technology is enabling advances in understanding fundamental biology, disease research, development of novel therapeutics, and regenerative medicine. In addition to its internal tissue development programs, Aspect is focused on strategically partnering with pharmaceutical and biotechnology companies, as well as academic researchers, to create physiologically and commercially relevant tissues. These tissues are used for impactful applications in therapeutic discovery and regenerative medicine. www.aspectbiosystems.com
About Genome British Columbia:
Genome British Columbia leads genomics innovation on Canada's West Coast and facilitates the integration of genomics into society. A recognized catalyst for government and industry, Genome BC invests in research, entrepreneurship and commercialization in life sciences to address challenges in key sectors such as health, forestry, fisheries and aquaculture, agrifood, energy, mining and environment. Genome BC partners with many national and international public and private funding organizations to drive BC's bioeconomy. www.genomebc.ca
SOURCE Genome British Columbia
Tamer Mohamed, Chief Executive Officer, Aspect Biosystems Ltd., Phone: +1-604-263-0502, Email: [email protected], @aspectbiosys; Jennifer Boon, Communications Manager, Sectors, Genome BC, Mobile: 778-327-8374, Email: [email protected], @genomebc, #genomebc
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