Government of Canada invests nearly $20M in top British Columbia companies in 2018
VANCOUVER, British Columbia – November 15, 2018 – Aspect Biosystems, a leader in the field of 3D bioprinting and tissue engineering, has received $2.7 million from the Government of Canada’s Western Innovation (WINN) Initiative. WINN has funded 17 projects in British Columbia this year, with total project funding of nearly $20 million. This initiative is aimed at helping innovative companies in British Columbia grow and compete.
“From the very beginning, the Government of Canada has played a pivotal role in supporting the development of our rapidly growing biotechnology company,” said Tamer Mohamed, Aspect’s President and CEO. “This additional investment will increase our capacity to grow our world-class team, and together with our strategic partners around the globe, continue to unlock the profound therapeutic potential of our bioprinting technology.”
“The Government of Canada is working hard to help western Canadian entrepreneurs turn their ideas into thriving businesses and create good middle class jobs,”said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada. “Through the Innovation and Skills Plan funding programs such as Western Innovation (WINN) initiative, we are helping to propel innovative entrepreneurs and businesses from start-ups into global success.”
ABOUT ASPECT BIOSYSTEMS
Aspect Biosystems 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.
ABOUT THE WESTERN INNOVATION (WINN) INITIATIVE
WINN promotes the development and diversification of the western Canadian economy by providing financial support to qualified SMEs to help them accelerate the commercialization of innovative products, processes and services in Western Canada. It also stimulates greater private sector investment in western Canadian commercialization activities.