BC Business
The funding round was led by New York-based investment company Dimension
Over the past two years, Vancouver-based Aspect Biosystems has made headlines with news about its funding rounds. The biotech company, which crafts tissue therapeutics to help treat incurable diseases like Type 1 diabetes, scored more than $70 million from the federal and provincial governments in 2024 and signed a US$2.6-billion partnership (focused on diabetes and obesity) with global pharmaceutical company Novo Nordisk in 2023—the same year that Aspect’s founder and CEO Tamer Mohamed was named an Entrepreneur of the Year – Pacific Region by EY.
Now, Aspect Biosystems is kicking off 2025 with a bang: it just raised $US115 million in Series B funding, led by American venture capital firm Dimension (which invests in technology and life sciences businesses). The financing round was supported by additional investors including Novo Nordisk, InBC and Rhino Ventures.
“I am incredibly proud of the progress our team is making on our mission to develop disease-modifying treatments for people living with serious diseases,” Mohamed said in a release. Aspect’s team grew from six people in 2015 to 90 in 2024, and the money from this Series B funding round will help its innovative treatments move closer to being used in medical settings. It will also help expand Aspect’s “full-stack” tissue therapeutic platform, which combines AI technology, design tools and advanced materials to create treatments.
“Aspect is an embodiment of the multi-disciplinary companies that we believe will define the next chapter of biotech,” added Nan Li, founder and managing partner of Dimension. “The company brings together capabilities across tissue engineering, cell therapy, biomaterials, computer vision and robotics to deliver on the promise of regenerative medicine. We are beyond excited to partner with the Aspect team to advance their programs forward and to build a generational company.”