Home Business & Economy Science & Bio Tech $200 million federal, BC & tech partnership partnership in bioprinted tissue...

$200 million federal, BC & tech partnership partnership in bioprinted tissue therapeutics

To discover, develop and clinically manufacture new medicines for people with serious diseases.

aspect biosystems

Wednesday July 10, 2024 | VANCOUVER, BC

by Mary P Brooke, B.Sc. | Island Social Trends

Hundreds of high-quality jobs in bioprinted tissue therapeutics are coming to BC, it was announced today by Brenda Bailey, Minister of Jobs, Economic Development and Innovation. The province is contributing about $23.8 million.

Bailey was joined at an announcement at Aspect Biosystems in Vancouver by federal Minister of Innovation, Science and Industry, François-Philippe Champagne who announced a federal contribution of $49 million.

aspect biosystems

Representatives from Aspect Biosystems were on hand for the announcement about life sciences and biomanufacturing in BC.

The nearly $200-million partnership between Aspect Biosystems and the governments of B.C. and Canada will create more than 200 jobs and advance the development of cutting-edge bioprinted tissue therapeutics for people in B.C. and around the globe.

biotech, jobs
New biotech jobs to fight disease. [BC govt]

The investment is part of BC’s Life Sciences and Biomanufacturing Strategy.

“B.C. is home to the fastest-growing life sciences sector in Canada, as we support incredible opportunities for the private sector to invest in B.C. as a centre for innovation and cutting-edge technology,” said Bailey.

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brenda bailey, JEFI, airport
Brenda Bailey, Minister of Jobs, Economic Development and Innovation, at Vancouver International Airport, March 21, 2024. [File: livestream]

“Helping B.C.-based life sciences and biomanufacturing companies like Aspect anchor and grow in our province is enhancing health-care outcomes for British Columbians and creating hundreds of new, high-paying, highly skilled jobs for people,” the Jobs minister said today.

About Aspect Biosystems:

Aspect Biosystems is a Vancouver-based biotech company pioneering the development of bioprinted tissue therapeutics to transform the treatment of disease. Bioprinted tissue therapeutics are implantable, cell-based therapies, which replace or repair biological functions in the body, such as sensing glucose and releasing insulin, that have been lost or damaged due to disease.

“Today’s investment in Aspect Biosystems strengthens Canada’s biotech sector, enhancing innovation and leadership in health care,” said François-Philippe Champagne, federal Minister of Innovation, Science and Industry.

Francois-Philippe Champagne
Innovation, Science and Industry Minister Francois-Philippe Champagne [File: Question Period in the House of Commons, Feb 14, 2023].

“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,” said Champagne.

Aspect employs more than 100 engineers, scientists and therapeutics developers, who have filed more than 100 patents.

New medicines for serious diseases:

“This significant investment from the governments of Canada and B.C. 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,” said Tamer Mohamed, chief executive officer, Aspect Biosystems.

Tamer Mohamed, ceo, Aspect Biosystems
Tamer Mohamed, chief executive officer, Aspect Biosystems. [LinkedIn]

“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.”

“We pioneered an entirely new category in tissue regeneration,” said Mohamed today on the livestreamed media Zoom call. “These are disease-modifying treatments.”

The project will see Aspect establish clinical biomanufacturing capabilities, advance its made-in-B.C. technology platform and expand its therapeutic pipeline of bioprinted tissue therapeutics for serious metabolic and endocrine diseases, such as diabetes, obesity and liver disease. It is expected to create hundreds of highly skilled jobs in the B.C. life sciences and biomanufacturing sector, as well as lead to more training and development opportunities for post-secondary students.

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During the announcement today, Innovation minister Champagne said (a bit tongue in cheek) that people in physics might dispute this, but he feels that time is moving faster! He was referring to how rapidly that science innovation is happening. “Made in Canada solutions are thriving,” said Champagne.

Strategy & Blueprint:

The B.C. Life Sciences and Biomanufacturing Strategy outlines key actions developed in close consultation with industry and researchers to position British Columbia as a global hub for life sciences and biomanufacturing, and as a leading centre for commercial-scale biopharmaceutical and medical manufacturing.

Clean and Competitive: A Blueprint for B.C.’s Industrial Future lays out the Province’s work to drive new investment, create new jobs and seize new opportunities in growing clean energy and sustainable industries. Leveraging B.C.’s strengths to create good jobs and opportunities in every community will improve quality of life, while strengthening B.C.’s diverse economy today and for future generations.

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  • In 2023, Aspect entered into a landmark $3.5-billion partnership with Novo Nordisk to develop bioprinted tissue therapeutics for diabetes and obesity.
  • There are more than 2,000 life sciences companies employing close to 20,000 people in the province.
  • B.C. has contributed more than $737 million in support across the five pillars of the BC Life Sciences and Biomanufacturing Strategy, leveraging more than $1.2 billion in federal funding and private investment.
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