The governments of Canada and British Columbia (BC) have invested a combined $72.75 million into Vancouver-based Aspect Biosystems, continuing a trend of government biotech funding in the province.
Canada claims that it has spent over $2.2 billion on the country’s biomanufacturing and life sciences capabilities since March 2020.
Aspect is receiving $49 million through the Government of Canada’s Strategic Innovation Fund (SIF) and $23.75 million from the province. The funding is going toward a $200-million project that looks to establish the first clinical biomanufacturing facility in Canada dedicated to producing bioprinted tissue therapeutics. Aspect said its next generation of therapeutics is designed to replace, repair, or supplement biological functions in the body to treat serious metabolic and endocrine diseases.
Founded in 2013, Aspect is a spinout from the University of British Columbia that 3D bioprints human tissues. The biomanufacturing facility is a continuation of a partnership struck between global pharmaceutical giant Novo Nordisk and Aspect in April 2023.
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The partnership saw the two parties agree to leverage Aspect’s proprietary bioprinting technology, and Novo Nordisk’s expertise and technology in stem cell differentiation, cell therapy development, and manufacturing. With this latest project, the duo is looking to create implantable cell-based therapies to repair biological functions that were lost or damaged due to disease. Examples include the body’s ability to sense glucose and release insulin.
“This significant investment from the governments of Canada and BC sends a strong signal of support for building and integrating the capabilities needed to discover, develop, and clinically manufacture new medicines for people with serious diseases,” Aspect CEO Tamer Mohamed said in a statement.
Aspect is the federal government’s latest investment into the biotech sector. Canada claims that it has spent over $2.2 billion on the country’s biomanufacturing and life sciences capabilities since March 2020. François-Philippe Champagne, the Minister of Innovation, Science and Industry, was in attendance at the opening of Stemcell Technologies’ new biomanufacturing facility in Burnaby, BC the day before the Aspect funding announcement. The facility was also supported by a $22.5-million investment from SIF, which was matched by the BC government.
Feature image courtesy Aspect Biosystems.
