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MHT's Marc Songini: RI plans launch of cord blood center
MHT's Marc Songini: Mass. bio firms prep for lifting of stem cell ban
As expected, President Barack Obama has reversed the federal government’s long standing restrictions on embryonic stem cell funding.
Stem cells are a potential resource for therapies, with their two major sources being either adults or embryos. While adult cells tend to have restricted developmental potential, embryonic stem cells divide almost indefinitely and can recreate every cell type in the body. However, they require the destruction of a blastocyst-stage embryo. With that in mind, President George W. Bush in 2001 restricted federal funding to only those embryonic stem cells derived before Aug. 9, 2001.
On Monday, however, as promised, Obama reversed that by signing today a stem cell Executive Order in the White House. In a statement posted on the White House website, Obama said, “We will lift the ban on federal funding for promising embryonic stem cell research. We will vigorously support scientists who pursue this research. And we will aim for America to lead the world in the discoveries it one day may yield. At this moment, the full promise of stem cell research remains unknown, and it should not be overstated. But scientists believe these tiny cells may have the potential to help us understand, and possibly cure, some of our most devastating diseases and conditions.”
This reversal has long been anticipated by local advocates and researchers, who see this as a way to boost the embryonic stem cell research efforts beyond its relatively immature state today. As Mass High Tech reported last month, area researchers expect millions of dollars to flow into the state through this reversal.
Moreover, the U.S. Food and Drug Administration approved the request of Geron Corp., a California-based biotech, to proceed with the first human test using an embryonic stem cell-based treatment.
A PEHub.com report released today states that Cambridge stem cell technology provider and research firm Stemgent Inc. has now raised $14 million in Series A-1 funding from investments including HealthCare Ventures and Morgenthaler Ventures.
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