Further boost for 3D bio-printing sector as Aspect Biosystems announces a multimillion funding round for advanced therapies.
Biotechnology company and pioneer in the 3D printing of human tissues, Aspect Biosystems has announced a $20 million funding [1] round to advance its search for advanced therapies. The announcement further fuels capital funding growth for bioprinting.
Longevity.Technology: 3D bioprinting is very much an emerging regenerative technology; we’re particularly interested in Aspect’s combined approach of platform and support services, where, we expect, commercial upside will come through licensing.
The funding round was led by Radical Ventures, a VC that invests in ideas and entrepreneurs seeking to use deep tech to solve global problems. It also attracted participation from existing investors including Pallasite Ventures and Rhino Ventures.
Aspect is developing technology which, it believes, can “transform how we heal injury and disease”. Its technology platform creates living human tissue with “unprecedented levels” of control and precision, and the tech can be applied to:
- Modelling muscle contraction;
- Micropatterning an immuno-oncology model;
- Protecting the viability and integrity of stem cells;
- Creating a perfusable blood-brain barrier model.
In order to translate the tech into commercial therapies, the Aspect team are developing global partnerships and creating a ‘pipeline’ of regenerative therapies that brings together emerging technologies in 3D printing, microfluids, cell biology and materials science.
Aspects’ combined hardware, software and services model (Source: 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,” said Tamer Mohamed, CEO, Aspect Biosystems.
“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.”
Interest in 3D bioprinting is surging; Grand View Research projects a market growth of just under 20% year-on-year between now and 2026 spurred by improvements in technology and materials. New developments are crowding onto market; for example, last week we covered a study that has successfully grown ‘mini livers’ in a lab within 90 days.
Development is accelerating and capital is flowing into the 3D bio-printing sector.
Companies such as Aspect, which are at the forefront of these developments, will feel very optimistic about the future indeed and we feel their optimism is well-founded.
