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3D Bioprinting Technology Company Aspect Biosystems Closes Seed Round Funding
Thursday, August 6, 2015Company Profile | Follow Company
Konrad Walus (PhD, PEng), Co-Founder, President, and CEO, Aspect Biosystems
Vancouver, BC, August 6, 2015--(T-Net)--Aspect Biosystems Ltd. announced today that it has now closed an oversubscribed seed round funded by the local Vancouver Angel community.
Specific terms of the financing have not been released.
Aspect Biosystems is an internationally recognized Canadian biotechnology company founded in November 2013 and spun out from the University of British Columbia and based on advanced research conducted by an interdisciplinary team of world-class researchers in engineering and medicine.
Aspect is a world leader in the development of cutting edge 3D bioprinting technology capable of generating functional living human tissues. Aspect has a vision of enabling human tissues on demand for a range of applications including pre-clinical drug discovery, basic research, cosmetic testing and personalized medicine.
“We are very impressed with Aspect's breakthrough approach to 3D bioprinting and we believe that the company holds great potential for delivering highly advanced structured tissues in the near term,” said Todd Farrell, President, entrepreneurship@UBC Seed Fund.
The financing will support the development of next generation 3D bioprinting technology and commercialization of Aspect's first custom human tissue services and products.
“We deeply appreciate the support of Vancouver's Angel investors who moved quickly to subscribe to this financing and we are very excited to take these key steps toward realizing Aspect Biosystems' bold vision,” said Konrad Walus, CEO.
About Aspect Biosystems
Aspect Biosystems is a Canadian biotechnology company founded in November, 2013. The company spun out from two internationally recognized research groups in engineering and medicine at the University of British Columbia. Aspect Biosystems is working towards a future where doctors determine which drugs work for their patients before prescribing them, where animals are no longer needed for the development of new therapeutics, and where lifesaving transplant organs are created, not harvested. To realise these goals, Aspect has developed a disruptive 3D bioprinting platform technology capable of creating living human tissues on demand.
Our initial products aim to improve the predictive accuracy of the pre-clinical drug discovery process by providing the industry and researchers with the technology to create highly customized physiologically-relevant 3D human tissue models that they can employ in the development of new drugs. Aspect's technology has the potential to drive a fundamental shift in the pharmaceutical industry, enabling the development of completely new therapeutics, and enabling pharma to test drugs they may have shelved in the past due to a lack of appropriate models. Furthermore, Aspect's technology has the potential to significantly reduce the use of laboratory animals, supporting an industry wide mandate to reduce, refine and replace animal testing. Aspect has a long-term vision to expand beyond applications in drug development, by enabling Human Tissues on Demand™ for broad applications in the life sciences including regenerative medicine and organ transplantation.
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