The UBC bioprinting spinout will use part of the funding to progress two of its projects towards commercialisation.
Aspect Biosystems, a Canada-based human tissue bioprinting spinout of University of British Columbia (UBC), has received C$26m ($19.6m) in series A funding from investors led by venture firm Radical Ventures, BetaKit has reported.
Materials-focused VC firm Pangea Ventures took part in the round, as did early-stage VC fund Rhino Ventures and venture capital firm Pallasite Ventures.
Founded in 2013, Aspect has devised a 3D bioprinting technology that mechanically creates living human tissues.
The tissues are formed by meticulously shaping liquid fragments – a scientific technique called microfluidics – potentially serving applications such as fundamental biology, disease research, drug development and regenerative medicine.
Aspect grew from UBC graduate research undertaken by Tamer Mohamed, who co-founded the spinout with Konrad Walus, associate professor in the Department of Electrical and Computer Engineering.
Mohamed is now chief executive of Aspect Biosystems, with Walus serving on the board of directors.
The funding will go toward Aspect’s growth plans, advancing two research programs towards the clinic while also funding recruitment, partnerships and technology development.
Aspect’s existing pipeline includes an attempt to accurately screen potential cancer immunotherapies using 3D printed tissues. The program is a collaboration with McGill University and pharmaceutical firms Merck & Co and GlaxoSmithKline.
Aspect closed a round of undisclosed size in 2017 led by Pangaea with contributions from Pallasite, Endure Capital, Relentless Pursuit Partners and unnamed new and existing investors.
The spinout then received $1m of funding in mid-2018 from Genome British Columbia, a non-profit research organisation anchored by the Canadian government and province of British Columbia.
