Aspect Biosystems’ full-stack tissue therapeutic platform integrates proprietary AI-powered bioprinting technology, computational design tools, therapeutic cells and advanced biomaterials to create implantable tissues that can replace, repair or supplement biological functions. It is building a new class of regenerative medicine with the potential to treat serious metabolic and endocrine diseases such as diabetes, obesity, rare endocrine disorders and liver disease.

The company has a landmark partnership with global healthcare leader Novo Nordisk to develop disease-modifying treatments for diabetes and obesity. The partnership is currently focused on developing bioprinted tissue therapeutics for the maintenance of normal blood glucose levels without the need for immunosuppression, with the potential to offer a transformative treatment for people living with type 1 diabetes.

Last year, Aspect Biosystems received investment from the Governments of Canada and British Columbia to accelerate and anchor its clinical biomanufacturing capabilities in the province. With this latest investment, the company will advance multiple bioprinted tissue therapeutics with a mission to deliver a new class of cellular medicine and functional cures for people living with serious metabolic and endocrine diseases. This funding will also fuel the expansion of its full-stack tissue therapeutic platform.

InBC invested in Aspect Biosystems alongside other investors. In addition to the potential for financial returns, this investment advances InBC’s impact objective to innovate for the future and is working in parallel with the B.C. Life Sciences and Biomanufacturing Strategy to position B.C. as a global hub for life sciences and biomanufacturing. Currently, B.C. is home to the fastest growing life sciences sector in Canada.

Are you a company with strong connections to B.C. and ready to scale? InBC is making equity investments in growing, innovative companies raising a Series A or later round. Learn more and express your interest in a potential investment here.

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In April 2023, the Government of British Columbia announced its new B.C. Life Sciences and Biomanufacturing Strategy under the StrongerBC Economic Plan, to position B.C. as a global hub for life sciences and biomanufacturing.

Since then, the Province has made several strides in advancing this strategy, including funding health and genome research, investing in new wet lab facilities, announcing the construction of a National Biomanufacturing Training Centre (NBTC), and co-investing alongside the Government of Canada and industry to build new capabilities and infrastructure for drug development and clinical research in B.C.

More recently this month, we had the largest-ever B.C. delegation — led by Life Sciences BC and the Minister of Jobs, Economic Development and Innovation — at the BIO International Convention, one of the world’s largest gathering of biotechnology companies. InBC’s CEO, Jill Earthy, attended as part of the B.C. delegation, to share about InBC and how we are investing in life sciences companies with strong connections to B.C.

Why life sciences in B.C.?

British Columbia is home to the fastest growing life sciences sector in Canada, comprised of over 2,200 companies employing over 19,000 individuals and growing. The COVID-19 pandemic boosted the sector — it accelerated innovation, highlighted its importance and earned B.C. international recognition — and this trend is set to continue. In the market, we can observe a steady increase in venture capital investment in life sciences since 2014.

Despite these promising outlooks, early-stage life sciences companies lack access to the investment capital required for them to scale up compared to companies in traditional industries. Several factors play into this, including the sector’s inherently higher risk (but higher return) profile, the deep technical expertise required for investors to make decisions and the longer than average timeline to profitability and return on investment.

InBC’s role in advancing life sciences in B.C.

As a source of local, long-term capital for B.C.-based companies, InBC has a valuable role to play in addressing this gap to support life sciences innovation in the province. InBC was created by the Government of British Columbia to attract, retain and grow companies, to drive innovation, create quality jobs and retain talent and intellectual property.

Access to local funding is essential to companies staying in the province, to ensure the economic and social benefits they generate benefit British Columbians. Our investment into life sciences companies and venture funds will work in tandem with the priorities of the Province, building on the provincial strategy’s momentum. This collective effort will scale our impact and drive greater growth of the sector in B.C.

How will InBC invest in life sciences?

Investing in life sciences aligns with two of InBC’s four impact objectives. InBC had identified the sector as an investment area under our objective to Innovate for the Future. It also overlaps with several verticals under our impact objective to Elevate Inclusive Communities, such as investing in the care economy, health and well-being for diverse communities, and inclusive and accessible products and solutions.

Early-stage life sciences companies are generally pre-revenue and carry a higher degree of risk. While InBC does consider direct investment into life sciences companies, our investments will primarily be in venture funds who specialize in the sector. These fund managers have the technical expertise and industry knowledge to make well informed investment decisions, and to effectively support the scale-up of the companies in their portfolios.

Life sciences companies and funds seeking investment

Are you an innovative life sciences company, or venture fund who invests in life sciences companies, looking for investment to support your scale up? Learn about our investment criteria and impact objectives and consider submitting your information through our website to be reviewed by our investment team.

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