Aspect Biosystems, which develops bioprinted tissue therapeutics for regenerative medicine, has announced that it has closed a U.S. $115M Series B financing round. Proceeds will accelerate advancement of Aspect’s pipeline and advance Aspect’s full-stack tissue therapeutic platform.
The round was led by Dimension, a multistage investment firm “dedicated to the interface of technology and the life sciences,” with participation from existing and new investors including Novo Nordisk, Radical Ventures, an undisclosed leading global investment firm, InBC, Pallasite Ventures, Pangaea Ventures, Rhino Ventures, and T1D Fund: A Breakthrough T1D Venture.
Concurrent with the financing, Nan Li, founder and managing partner at Dimension, was appointed to the company’s board of directors.
“Aspect is an embodiment of the multi-disciplinary companies that we believe will define the next chapter of biotech,” said Li. “The company brings together capabilities across tissue engineering, cell therapy, biomaterials, computer vision and robotics to deliver on the promise of regenerative medicine. We are beyond excited to partner with the Aspect team to advance their programs forward and to build a generational company.”
This financing builds on Aspect’s recent progress, including signing a CA $200M partnership with the governments of Canada and British Columbia and a partnership with Novo Nordisk focused on diabetes and obesity. Proceeds from the Series will enable Aspect to advance multiple bioprinted tissue therapeutics towards the clinic with a mission to deliver a new class of cellular medicines and functional cures for people living with serious metabolic and endocrine diseases.
Additionally, the funds will fuel the expansion of Aspect’s industry-leading, full-stack tissue therapeutic platform, which integrates proprietary AI-powered bioprinting technology, computational design tools, therapeutic cells, and advanced biomaterials.
“I am incredibly proud of the progress our team is making on our mission to develop disease-modifying treatments for people living with serious diseases,” said Tamer Mohamed, founder and CEO, Aspect Biosystems. “We are thrilled to partner with Dimension and this exceptional, mission-aligned investor syndicate. We are grateful for their support as we embark on our next chapter dedicated to transforming patient outcomes for the better.”
Aspect Biosystems is “pioneering the development of bioprinted tissue therapeutics to transform how we treat some of the most elusive diseases.” Its bioprinted tissue therapeutics are designed to replace, repair, or supplement biological function inside the body.
The company says it is creating “next-generation” cell therapies by applying its “full-stack tissue therapeutic platform, which integrates proprietary AI-powered bioprinting technology, computational design tools, therapeutic cells, and advanced biomaterials.” The company is advancing a pipeline of bioprinted tissue therapeutics across multiple disease areas in the endocrine and metabolic space. Targets include diabetes, obesity, rare endocrine disorders, and liver disease.
Aspect says its pipeline development strategy involves both proprietary programs as well as strategic partnerships, including a collaboration with Novo Nordisk focused on diabetes and obesity.
