Vancouver biotechnology company Aspect Biosystems Ltd has completed its first institutional financing. The round, the value of which was not disclosed, was led by Canadian venture capital firm Pangaea Ventures and joined by Endure Capital, Pallasite Ventures and Relentless Pursuit Partners, as well as other new and existing investors. Founded in 2013, Aspect is a developer of 3D bio-printing and tissue engineering technologies. Led by President and CEO Tamer Mohamed, the company plans to use the funds raised to back continued product development, expand its strategic partnerships, and commercialize its platform technology, Lab-on-a-Printer.
Aspect Biosystems Closes First Institutionally Led Round of Financing
September 18, 2017
VANCOUVER, British Columbia–(BUSINESS WIRE)–Aspect Biosystems Ltd., a privately held biotechnology company commercializing cutting-edge bioprinting technologies, has announced the completion of its first institutionally led round of financing.
The private financing round was led by Pangaea Ventures, and included investments by Endure Capital, Pallasite Ventures, Relentless Pursuit Partners, and other new and existing investors. Aspect will use proceeds from this financing to fund ongoing technology and product development, expand its strategic partnerships, and ultimately accelerate the commercialization of its Lab-on-a-Printer™ bioprinting platform and tissue applications.
“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, 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.”
“Pangaea has been following the progress of Aspect for the last several years and has witnessed the tremendous progress over that time,” said Andrew Haughian, Partner at Pangaea Ventures. “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.”
About Aspect Biosystems
Aspect Biosystems is 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 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 to advance and accelerate the discovery and development of new drugs and therapies.
About Pangaea Ventures
Pangaea is the world leader in advanced materials venture capital. It invests in companies using advanced material technologies that make our world better. Established in 2000, Pangaea has built an outstanding portfolio addressing multi-billion dollar markets in energy, electronics, health and sustainability. Its unmatched materials network spans multiple industry verticals, and includes world-leading Strategic Limited Partners across North America, Asia, Europe and the Middle East.
Aspect Biosystems Ltd.
President & CEO
Photo courtesy of Aspect Biosystems Ltd