Aspect Biosystems, a biotechnology company pioneering microfluidic 3D bioprinting of human tissues, has raised $20 million in a Series A funding round, the startup announced.
The Canadian based biotech startup is led by Egyptian-Canadian entrepreneur Tamer Mohamed, who co-founded Aspect in 2013.
According to the statement the round was led by Radical Ventures, a venture capital firm investing in entrepreneurs developing and applying deep tech to solve global problems and transform massive industries, with participation from existing and new investors, including Pangaea Ventures, Pallasite Ventures, and Rhino Ventures.
Aspect Biosystems will use this capital to advance multiple tissue therapeutic programs, expand its technology platform capabilities, and grow its world-leading team. “We are thrilled to close this important institutional financing round with a group of world-class investors who believe in our bold vision,” said Mohamed commenting on the investment.
He added that the funding speaks to the power of the company’s technology and strategy in addressing multiple applications in therapeutic discovery and regenerative medicine, and will allow them to accelerate internal innovation and expand their global partnerships.
Managing Partner of Radical Ventures Jordan Jacobs, revealed his excitement in collaborating with the Aspect team, adding “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.”
Founded in 2013 by Tamer Mohamed, Konrad Walus, Sam Wadsworth, and Simon Beyer, 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 aims to transform medical research and clinical practice.
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