Aspect Biosystems, a Canadian company in the biotechnology industry, is growing dynamically, conducting research on new applications for bioprinting. Recently, company representatives reported that Aspect Biosystems is starting a project to test new cancer treatments that involved major pharmaceutical companies such as Merck or GSK and scientists at McGill University in Quebec.
The company has now announced that it has raised $ 20 million in funding round A. Investors include Pangea Ventures, Pallasite Ventures and Rhino Ventures. The collected funds will be used for research on 3D bioprint of living cells, and specifically on the development of therapeutic methods using 3D bioprinted tissues.
Financing will allow the company to undertake a project in the field of regenerative medicine, focusing on innovative wound healing methods for patients affected by musculoskeletal and metabolic disorders.
The research that will be carried out as part of the newly acquired funding is related to the current project that concerns cancer treatment methods. The assumption of the implemented project is that scientists create three-dimensional tissues using cells from patients and testing – the biological material will be used to assess the effectiveness of anticancer drugs and will predict the patient’s response to a particular type of treatment.
This is not the first financing for Aspect Biosystems – previously company was able to obtain funding for the development of “Lab-on-a-Printer” 3D printing technology, which is to help achieve the company’s primary goal, i.e. 3D printing of human tissues on demand. In addition, since 2017, it has been closely cooperating with Johnson & Johnson to biofilm 3D meniscus for the needs of regenerative medicine.
The company is also in close cooperation with scientific units. Aspect Biosystems cooperates with the National Research Council in Canada. In addition, together with the University of Maastricht in the Netherlands, it also implements a project to create an artificial kidney that can function as a real organ.