The grant will allow Arteriocyte to develop Nanex platform to be used in stem cell transplants, a procedure often performed for leukemia or multiple myeloma patients.
Arteriocyte’s collaborators and clinical partners will use the funds to validate the clinical grade GMP process of stem cell expansion using the Nanex System.
Arteriocyte’s Nanex stem cell culture kit contains a proprietary nanofiber-based scaffold that improves the rapid expansion of hematopoietic stem and progenitor cells by mimicking the microenvironment of bone marrow.
GMP-grade Nanex closed culture stem cell expansion product will be launched within the next year, according to the company.
Arteriocyte CEO Don Brown said the company is pleased to once again be recognized for the novel technologies that its team and collaborators are developing in order to improve treatment options for patients in need.
"This award by the NIH demonstrates that we are on the right path to potentially play a role in the delivery of care for patients with leukemia and multiple myeloma," Brown added.