Hopkinton co. changes name as part of refocusing
Correction: A previous version of this story mis-stated the relationship between Isto Holdings and Arteriocyte.
Hopkinton biomedical company Arteriocyte, Inc. announced Monday it has changed its name to Compass Biomedical as part of a reorganization.
The company is the research and development division of the Arteriocyte family of companies. The name change is part of a refocusing on developing platelet-derived products for cell culture, wound care and ocular applications as part of an expansion of core research and manufacturing capabilities, according to the company. It also comes as the company branches out as a contract service provider.
The name change and reorganization follow the purchase of Arteriocyte Medical Systems Inc. by Isto Holdings, the parent company of St. Louis-based Isto Technologies. Compass Biomedical was not a part of the transaction and will remain an independent research entity, although other parts of Arteriocyte will be folded into Isto.
Compass Medical was founded in 2004 when a hematologist and a cardiologist teamed up to use a patient's own bone marrow-derived stem cells as treatment following a heart attack, according to the company. Their core technology focuses on the commercialization of platelet products such as BioBandage, a Magellan platelet rich plasma product, and PLUS human platelet lysate which serves as a clinical grade cell culture supplement.
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