Aspect Biosystems raises $20m in Series A funding

Canadian bioprinting company Aspect Biosystems has raised $20 million in a Series A funding round led by Radical Ventures.

The Vancouver-based biotechnology firm is the developer of a microfluidic bioprinting technology designed to create living human tissue. It has engineered the RX1 Bioprinter which supports a range of biomaterials and is said to boast precise motion and pressure control to ensure microscale resolution at high speed.

With the financial backing of Radical Ventures, who was joined by Pangea Ventures, Pallasite Ventures and Rhino Ventures, Aspect is to fund the advancements of multiple tissue therapeutic programmes, expand the capabilities of its technology platform and grow its team of experts. Aspect believes the funding round will be a big boost to its ambitions to enhance the treatment of people.

“We are thrilled to close this important institutional financing round with a group of world class investors who believe in our bold vision,” commented Tamer Mohamed, CEO of Aspect Biosystems. “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.”

“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,” added Jordan Jacobs, Managing Partner at Radical Ventures.

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