SASKATOON -- Saskatoon police arrested and charged a 26-year-old man after a violent altercation in the city's Queen Elizabeth neighbourhood. 

At around 11 a.m. on Sunday police were called to the 1900 block of Hanover Avenue for reports of a man being stabbed, police said in a news release.

Police arrived on the scene and found a 40-year-old man with several stab wounds which police said are serious but non-life-threatening. The man was taken to hospital, police said. 

Officers located a 26-year-old suspect nearby and arrested him, charging him with aggravated assault and break and enter, police said. 

Both the victim and the suspect are knew each other, police said. 

This is the fourth stabbing incident police responded to since Friday night.