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MedCity morning read Tuesday, March 10

March 10, 2009 7:06 am by | 0 Comments

LA JOLLA, CA - FEBRUARY 28:  Embryologist Ric ...
Image by Getty Images via Daylife

States and hospital systems moved quickly to stake out initiatives and capitalize on President Obama’s broader-than-expected order to allow federal funding of stem cell research.

Cincinnati Children’s Hospital Medical Center and the University of Cincinnati on Monday announced a plan to expand stem cell research – buttressed not only by the federal announcement but by a five-year, $10 million allocation from the Cincinnati Children’s Research Foundation.

The University of Michigan threw a stem-cell party that announced a $5 million research initiative. Cleveland’s National Center for Regenerative Medicine said it expects to attract new stem-cell researchers and companies to come to the region.

Many states, including Massachusetts, will reach out for federal funds to boost the state stem-cell funding plans created to essentially sidestep the federal restrictions. The California Institute for Regenerative Medicine announced plans to apply for federal dollars. California’s institute, in part to take advantage of all the fresh federal science funding, has already hired a lobbying firm dedicated to devising a funding strategy.

The lifting of the ban should bode will for Northeast Ohio’s core of stem-cell companies, including Athersys, Arteriocyte, AcelleRX Therapeutics and Cell Targeting.

The medical industry has expected the lifting of the ban for some time. Cell Targeting’s chief executive, for example, was already encouraged in January when the Food and Drug Administration approved the first embryonic stem-cell trial.

And in a telling, symbolic announcement, the same day Obama lifted the funding ban stem-cell tool maker Stegment received $14 million in venture capital.

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Chris Seper

By Chris Seper MedCity News

Chris Seper is the CEO at MedCity Media, which publishes MedCityNews.com. He is also a senior writer at MedCity News. Reach him at [email protected]
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