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Founded in 2004 to develop proprietary stem cell and tissue engineering based therapies from Cleveland’s Case Western Reserve University, Arteriocyte focuses on developing commercially available stem cell based therapies using multiple sources of adult derived stem cells (marrow, peripheral cord blood, and cartilage) for delivery to injured tissues in order to speed repair and improve function.
In seven short years, the company has grown from one employee to more than 67 employees located throughout the world and has rapidly transitioned from a basic research project into a fully integrated R&D and commercial product company – Arteriocyte Medical Systems with revenue growth of 45% in 2009.
The company produces and distributes a broad portfolio of research based stem cell culturing systems and FDA approved point-of-care medical devices designed to improve surgical outcomes. Arteriocyte maintains its Research and Development Center in Cleveland’s Health-Tech Corridor and has additional facilities in Massachusetts, Minnesota and Utah.
In October of 2007, Arteriocyte partnered with DW Healthcare Partners and Comerica to create Arteriocyte Medical Systems Inc., in order to commercialize and distribute novel medical devices and point of care surgical solutions to address serious unmet medical needs in cardiac, orthopedic and vascular surgeries.
Today, Arteriocyte Medical Systems manufactures and distributes the Magellan® Autologous Platelet Separator System worldwide – a cutting-edge technology allowing surgeons to rapidly prepare concentrated blood products for use in surgery.
The company’s investors include DW Healthcare Partners, Medtronic, Comerica, and Case Technology Ventures. Arteriocyte has been awarded more than $8 Million in competitive grants and federal research contracts to fuel clinical implementation and further commercialization of its unique technologies.
Arteriocyte has capitalized on its top-ranked 2009 Ohio Third Frontier Research Commercialization Program award to initiate four separate clinical trials to evaluate rapid, bedside stem cell therapies in cardiovascular disease, peripheral vascular disease, and prevention of surgical site infection.
Additionally, the company is starting clinical evaluation of its Magellan Platelet separation technology for Amputation Prevention in the setting of Compartment Syndrome, the first of three clinical research programs funded by the Department of Defense in partnership with the Army Institute of Surgical Research that focus on developing cellular therapies for Battlefield Wounded Soldiers.
Arteriocyte has also completed the transfer of its proprietary NANEX? stem cell expansion technology (licensed from Johns Hopkins University) and begun production at its Cleveland Health-Tech Corridor facility.
The company was recently honored as a Venture of the Year Award Finalist by the Ohio Venture Association.
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