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TEXT OF STORY
Doug Krizner: The largest gathering of experts on stem cells will be held today in New York City. It’s the 3rd Annual Stem Cell Summit. For many attendees, it’s all about the investment opportunities, as Jeremy Hobson reports.
Jeremy Hobson: The summit’s organizer, Robin Young, says the stem cell industry will more than double this year because of a shift in where development money is coming from.
Robin Young: Well right now, the vast majority of investment in stem cells is coming from the government. However, as these products are used increasingly and successfully by physicians, the private market and the private capital will begin to play a much more important role.
Young predicts the market for stem cell products will grow from $36 million to $8.5 billion in the next 10 years.
Much of that, says Dr. Warren Sherman of Columbia University’s Medical Center, will be for the treatment of some of the nation’s deadliest diseases:
Dr. Warren Sherman: There’s gonna be a huge opportunity, I believe, especially in terms of treating heart failure.
Not to mention cancer and diabetes. Still, Sherman says investors may want to hold on to their wallets until more studies are done. But he says as of now, the outlook for the industry looks good.
I’m Jeremy Hobson for Marketplace.
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