Stem-cell approval may spark investing

John Dimsdale Dec 4, 2009
HTML EMBED:
COPY

Stem-cell approval may spark investing

John Dimsdale Dec 4, 2009
HTML EMBED:
COPY

TEXT OF STORY

Steve Chiotakis: Embryonic stem cells can grow into every type of body tissue. And that makes them very valuable for scientific research. But using them is a contentious issue because it requires destroying human embryos. Former President Bush restricted federal funding during his two terms,
but President Obama rescinded that.

The National Institutes of Health has already approved 13 stem-cell lines for research, and today an advisory panel looks at approving 20 more. Marketplace’s John Dimsdale reports the moves are likely to trigger a flood of new investment in medical research.


John Dimsdale: NIH approval gives stem-cell scientists immediate access to $200 million worth of federal research money. Children’s Hospital in Boston created some of the stem cell lines the NIH approved earlier this week.

Director George Daley says Bush-administration restrictions hindered research.

GEORGE DALEY: The NIH funds the lion’s share of basic biomedical science in this country. And for the last eight years we haven’t been able to exploit it for applications in human stem cells. Now we can.

And drug companies and medical device makers are now more likely to invest in their own research, says B.D. Colen at the Harvard Stem Cell Institute.

B.D. COLEN: I think they are now beginning to see the potential. Because this is more normalized, they will be more eager to get in.

And the results will be new drugs for treatment of diseases from diabetes to Parkinson’s.

In Washington I’m John Dimsdale for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.