Sep 19, 2017 | By Tess
Aspect Biosystems Ltd., a Canadian biotech company that specializes in developing 3D bioprinted tissues, has wrapped up its first round of institutional financing. The investment round, led by venture capital firm Pangaea Ventures, brought in funding from both existing and new investors.
Though Aspect Biosystems has yet to release the actual amount of money it raised, it has revealed that its investors include such firms as Endure Capital, Pallasite Ventures, and Relentless Pursuit Partners.
More interestingly, the Vancouver-based company says it will be using its newly acquired funding to support and advance various R&D projects that are in progress, including its Lab-on-a-Printer 3D bioprinting platform, which it hopes to commercialize.
The funding will also be put towards advancing and commercializing various other tissue applications, as well as other product development, and to “expand its strategic partnerships.”
One of the company’s partnerships, which was formed recently, is with German company InSCREENex and the Fraunhofer Institute for Toxicology and Experimental Medicine (ITEM). Together, they have been developing Aspect Biosystems’ 3DBioRing muscle tissue platform, and working towards bioprinting contractile tissues.
Aspect Biosystems' 3DBioRing Contractile Tissue platform
“We believe 3D bioprinting technology has tremendous potential to improve the way we develop therapeutics and treat disease and are excited to bring on a group of quality investors who believe in our bold vision,” said Tamer Mohamed, the president and CEO of Aspect Biosystems.
“With the financial and strategic support of our investors and partners, we will continue to use our Lab-on-a-Printer™ bioprinting technology to enable critical advancements in biological research, therapeutic development, and clinical practice,” he continued.
Aspect Biosystems’ proprietary Lab-on-a-Printer technology is arguably one of the company’s most promising avenues, as it is being developed to allow for the complex biofabrication of heterogeneous 3D tissues.
According to the company, the platform integrates modular and disposable microfluidic printhead cartridges (which can accommodate various types of low and medium viscosity bioinks), which means that a range of cell types can be combined in a single print.
The company's website states the following: “This technology is embodied through a growing portfolio of disposable and modular microfluidic printhead cartridges, each offering sophisticated tissue design features. Utilizing the concept of coaxial flow focusing, a cell-laden biological fiber is generated within the printhead cartridge and patterned into a 3D structure.”
Founded in 2013, Aspect Biosystems says it is committed to developing its innovative 3D bioprinting technologies with the ultimate aim of commercializing them for medical and tissue engineering applications. There is little doubt that its recent financing will bring it closer to its goal.
Andrew Haughian, a partner at Pangaea Ventures, commented on the investment round, saying: “Pangaea has been following the progress of Aspect for the last several years and has witnessed the tremendous progress over that time. We truly believe Aspect has developed the world’s leading bioprinting platform and we’re absolutely thrilled to partner with the team as the company enters an exciting period of growth.”
Posted in 3D Printer Company
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