VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan 9, 2020--
Aspect Biosystems (“Aspect”) (“the Company”), a biotechnology company pioneering microfluidic 3D bioprinting of human tissues, today announced a US $20 million Series A financing round. Radical Ventures, a venture capital firm investing in entrepreneurs developing and applying deep tech to solve global problems and transform massive industries, led the round with participation from existing and new investors, including Pangaea Ventures, Pallasite Ventures, and Rhino Ventures. Aspect will use this capital to advance multiple tissue therapeutic programs, expand its technology platform capabilities, and grow its world-leading team.
Aspect’s broadly applicable technology platform enables the creation of living human tissues with unprecedented control, flexibility, and precision. In addition to Aspect’s internal tissue therapeutic programs for regenerative medicine, the Company works with its global partners to create high-value solutions that will transform medical research and clinical practice.
“We are thrilled to close this important institutional financing round with a group of world-class investors who believe in our bold vision,” said Tamer Mohamed, CEO, Aspect Biosystems. “This funding speaks to the power of our technology and strategy in addressing multiple applications in therapeutic discovery and regenerative medicine, and will allow us to accelerate internal innovation and expand our global partnerships. With our technology platform, interdisciplinary team of scientists and engineers, and leading collaborators, we are developing a new wave of solutions that have the potential to transform how we heal injury and disease.”
“We are very excited to partner with the excellent Aspect team to support the growth of their world-leading 3D bioprinting platform and the development of breakthrough technologies aimed at radically transforming human health,” said Jordan Jacobs, managing partner, Radical Ventures.
About Aspect Biosystems
Aspect Biosystems is a privately held biotechnology platform company pioneering the microfluidic 3D bioprinting of human tissues. The Company’s proprietary technology has the potential to shape every aspect of human health by enabling the creation of human tissues for medical research, therapeutic discovery, and regenerative medicine. Aspect is focused on partnering with academic institutions and biopharma companies to facilitate high-value discovery and development. The Company is also advancing internal tissue therapeutic programs for regenerative medicine, with an initial focus on metabolic diseases and musculoskeletal injuries and disorders. Learn more at www.aspectbiosystems.com.
About Radical Ventures
Radical Ventures is a venture capital firm investing in bold entrepreneurs developing and applying artificial intelligence and other deep technologies to invent the future. Based in Toronto, Radical Ventures launched a US $350 Million fund in 2019 focused on Series A investments. Radical Ventures was created by the founders of leading artificial intelligence company Layer 6 (acquired by TD Bank Group), who also co-founded the Vector Institute for Artificial Intelligence. Learn more at www.radical.vc.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200109005202/en/
CONTACT: Steve E. Kunszabo
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: HEALTH OTHER SCIENCE GENERAL HEALTH RESEARCH SCIENCE PHARMACEUTICAL BIOTECHNOLOGY
SOURCE: Aspect Biosystems
Copyright Business Wire 2020.
PUB: 01/09/2020 08:00 AM/DISC: 01/09/2020 08:01 AM