Aspect Biosystems announces partnership with governments of Canada and British Columbia

Betsy Goodfellow | July 11, 2024 | News story | Business Services |  Aspect Biosciences, Pharmacy, government, investment 

Aspect Biosystems has announced that it has entered into an agreement with the governments of Canada and British Columbia, under which they have provided an investment of $72.75m for the development of its biomanufacturing capabilities.

The investment forms part of a $200m multi-year project, which will advance Aspect’s biomanufacturing capabilities, full-stack tissue therapeutic platform and its pipeline of bioprinted tissue therapeutics. These are designed to replace, repair and supplement biological functions within the body in order to deliver new disease-modifying treatments and cures for some difficult-to-treat diseases.

Tamer Mohamed, chief executive officer at Aspect Biosciences, commented: “This significant investment from the governments of Canada and British Columbia 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. This is a major step forward on our bold mission to pioneer an entirely new category of regenerative medicine and build an enduring and globally leading biotech that is delivering sustainable, life-changing impact to patients at home and around the world.”

François-Philippe Champagne, Canadian minister for innovation, science and industry, added: “Today’s investment in Aspect Biosystems strengthens Canada’s biotech sector, enhancing innovation and leadership in healthcare. It accelerates our transition from ideas to globally competitive products, while also bolstering our response to health emergencies, attracting international investments and creating high-quality jobs for Canadians. British Columbia’s impressive talent pool further fuels our innovation and leadership in the next generation of medicines.”

Betsy Goodfellow