CLEVELAND--(BUSINESS WIRE)--Arteriocyte, a clinical stage biotechnology company developing stem cell therapies for ischemic diseases, has received a $509,000 subgrant award to further the development of its technology. The funding, received as part of a $60 million Third Frontier award to the Cleveland Clinic-led Global Cardiovascular Innovation Center (GCIC) initiative, will allow Arteriocyte to initiate Phase II clinical evaluation of its lead stem cell product to be used in chronic coronary ischemia.
