Ateriocyte awarded $500K for stem cell research for chronic coronary ischemia

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The Global Cardiovascular Innovation Center (GCIC) has awarded Arteriocyte, a clinical stage biotechnology company, $496,000 to continue its clinical research on its lead stem cell therapy (ACY001) for use in chronic coronary ischemia.

The funding is in addition to the first year GCIC support received in 2007, to accelerate Ateriocyte’s cardiac stem cell therapy development. Under the GCIC project, the Cleveland-based company participates as one of a number of companies working as research partners with the Cleveland Clinic.

Arteriocyte said its goal is to develop commercially available stem cell based therapies using multiple sources of adult derived stem cells (marrow, peripheral and cord blood and cartilage).