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Arteriocyte Receives $1 Million Award From Ohio Third Frontier Program to Advance Its NANEX™ Technology Toward Clinical Use
Date:7/20/2011

CLEVELAND, July 20, 2011 /PRNewswire/ -- Arteriocyte®, a leading clinical stage biotechnology company with offices in Cleveland, Ohio and Hopkinton, Massachusetts that develops proprietary stem cell and tissue engineering based therapies announced today that the Ohio Department of Development's Third Frontier Commission awarded a $1 million grant to the company for its "Development and Commercialization of Hematopoietic Stem Cell Expansion for Clinical Applications" as part of the Ohio Third Frontier Biomedical Program to accelerate the company's Good Manufacturing Practices (GMP) manufacturing of its NANEX™ technology for clinical use under the product name HemaEx.

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The NANEX™ technology is a biofunctional nanofiber-based 3D scaffold designed to mimic the bone marrow environment, permitting rapid ex vivo proliferation of hematopoietic stem cells with minimal differentiation. This technology was licensed from John Hopkins University to enhance proprietary stem cell therapies targeting cardiovascular disease and cancer. Arteriocyte launched the technology commercially as a research-use "NANEX™ Hematopoietic stem cell expansion kit" in December 2010. This kit, combining NANEX™ culture ware with proprietary culture medium and growth factors, enables scientists to rapidly expand HSCs for their preclinical research.

Arteriocyte will deploy the current funding to rapidly scale its Cleveland-based NANEX™ production facility to manufacture GMP-compliant, "clinic-ready" HemaEx culture ware. The company anticipates working closely with clinical partners at the Ohio State University to validate use of the HemaEx system during treatment of blood born cancers. Additionally, this award will enable Arteriocyte to expand its strategic partnership with Miltenyi Biotec to include GMP-grade media additives that are safe for human use. The company anticipates
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