Vancouver, BC, Canada – September 18, 2017 – Aspect Biosystems Ltd., a privately held biotechnology company focused on commercializing cutting-edge bioprinting technologies, has announced the completion of its first institutionally led round of financing.
The private financing round was led by Pangaea Ventures, and included investments by Endure Capital, Pallasite Ventures, Relentless Pursuit Partners, and other new and existing investors. Aspect will use proceeds from this financing to fund ongoing technology and product development, expand its strategic partnerships, and ultimately accelerate the commercialization of its Lab-on-a-Printer™ bioprinting platform and tissue applications.
In conjunction with the financing, Andrew Haughian of Pangaea Ventures and Christopher Bissonnette from Pallasite Ventures will be joining the Board of Directors. Aspect would like to thank outgoing Director Paul Drohan for his valuable contributions and support during a critical phase of Aspect’s corporate development.
President and CEO of Aspect Biosystems, Tamer Mohamed, said:
“We’ve made significant progress in becoming an industry leader in the field of 3D bioprinting, and we’re grateful for the strong support we’ve received from our valued investors as we enter a new and exciting phase of our company’s growth. We believe 3D bioprinting technology has tremendous potential in changing the way we develop therapeutics and treat disease and are excited to bring on a group of quality investors who believe in our bold vision. Building on our momentum, and with the financial and strategic support of our investors and partners, we will continue to use our Lab-on-a-Printer™ 3D bioprinting technology to enable critical advancements in biological research, therapeutic development, and clinical practice.”
Andrew Haughian, Partner at Pangaea Ventures, said:
“Pangaea has been following the progress of Aspect for the last several years and has witnessed the tremendous progress over that time. We truly believe Aspect has developed the world’s leading bioprinting platform and we’re absolutely thrilled to partner with the team as the company enters an exciting period of growth.”
Aspect Biosystems Ltd. is a privately held biotechnology company operating at the leading edge of 3D bioprinting and tissue engineering. The company’s proprietary Lab-on-a-Printer™ platform technology is enabling advances in understanding fundamental biology, disease research, development of novel therapeutics, and regenerative medicine. In addition to its internal programs, Aspect is focused on strategically partnering with pharmaceutical and biotechnology companies, as well as academic researchers, to create physiologically and commercially relevant tissues. These tissues are used to advance and accelerate the discovery and development of new drugs and therapies.
Pangaea is the world leader in advanced materials venture capital. It invests in companies using advanced material technologies that make our world better. Established in 2000, Pangaea has built an outstanding portfolio addressing multi-billion dollar markets in energy, electronics, health and sustainability. Its unmatched materials network spans multiple industry verticals, and includes world-leading Strategic Limited Partners across North America, Asia, Europe and the Middle East.
This press release has also been posted via Business Wire here.