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Arteriocyte Raises $10 Million

Arteriocyte Medical Systems Inc. of Cleveland has launched with $10 million from stem cell company Arteriocyte Inc. and DW Healthcare Partners. The new company will develop and market novel medical products to improve patient outcomes in cardiac, orthopedic and vascular surgeries. Don Brown, who has served as CEO of Arteriocyte since June 2004, will run the new company. DW Healthcare's Dr. Jay Benear, Rod Boone and Doug Schillinger will join the new company's board.