Great article. The big takeaway:
Though most federal grants go to academic researchers, biotech industry backers said the rule changes also could mean a windfall for private companies.
Michael West, chief executive of BioTime Inc., said he expected to see increased demand for the hundreds of stem cell lines sold by his Emeryville-based company.
More importantly to the industry, West said, private investors will be less afraid of putting their money into stem cell startups. Venture capitalists and big pharmaceutical companies in the past have been skittish about investing in stem cell companies out of fear that federal regulations could tighten even further, he said.
“It’s a green light that will go a long way in my experience to people committing capital,” West said. “Not knowing the future was really a major risk factor.”
Oh yeah, Tom “Motherfucker” Blumer and I have a bet. He has recently nearly surrendered in his premature claims to have won it, but we’ll have to wait a few years to find out. I’d say Obama’s recent lifting of the federal funding ban puts me in the drivers seat over the course of the next few years. Alan Trounson seems to think so too:
“I think over the next five to 10 years, the revolution will have happened in stem cell therapeutics,” Alan Trounson, president of California’s stem cell agency.
It must really suck for a “conservative” to be on the other side of the Reagans on this one. Talk about conflicted.