Friday, June 24, 2005

Embryonic stem-cell research firms floundering--or maybe foundering

"Many of the technologies we hyped to the general public haven't worked yet," Celgene President Alan Lewis told the Associated Press about a meeting of embryonic stem-cell researchers in California.

Here's the good news: because the possibilities are at best 20-30 years in the future, the embryonic stem-cell research firms are losing money.
Geron, the California-based biotech firm has put over $100 million into embryonic stem cell research and, because it has little to show for the investment, lost $80 million last year.
Which may explain why they're hyping (Lewis's word, not mine, though I concur with it) the technology.

This post is also available at Blogger News Network.

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