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Nothing new on Pacer re: any legal filings.
Try this site for info on shell stocks - it comes highly recommended.
http://www.shellstockreview.com/ssr-Home.html
U.S. stem cell developers get boost as Democrats look to increase federal funding
WASHINGTON (AP) - Shares of biotech companies working on stem cell-related therapies surged Thursday as Democrats in Congress prepared to promote once again legislation that would increase government-funded research in this area.
House Democrats are expected to propose a bill on Friday that will expand the types of stem cell research that can be funded by the government. In 2001 President George W. Bush said his administration would only allow funding for research using a limited number of stem cell types, and last summer he vetoed a bill passed by Congress that would have eased those limits. It was the first and only veto of his presidency.
With a new majority in Congress -- and support from many Republicans -- House Democrats have promised to push the legislation through in their first 100 hours in power. A House vote is scheduled for next Thursday.
If Bush rejects the bill again, the 100-member Senate is believed to have enough support to overturn his veto with a two-thirds majority vote, though the 435-member House would have a more difficult time getting the necessary votes.
Even if the current legislation does not get through, stem cell research advocates say lawmakers could get it passed down the road by attaching it to a critical bill that the president would have to sign.
``We're hopeful that the president learned something from the election results, but if he didn't and chooses to veto this bill again, that doesn't mean the game is up,'' said Sean Tipton, President of the Coalition for the Advancement of Medical Research.
Many states previously decided not to wait for federal money to fund stem cell research. California's Institute for Regenerative Medicine is expected to deliver $181 million this year to scientists working on stem cell-related cures in that state. New Jersey, Connecticut, and Maryland are among the other states that have designated funding for stem cell researchers.
With the possibility of increased funding on the horizon, traders sent the price of Stemcells Inc. stock up more than 15 percent. Shares dipped 2 cents in after hours trading Thursday after rising 45 cents, or 16.9 percent, to close at $3.11 on the Nasdaq Stock Market.
In November the company helped perform the first ever transplant of cells from an aborted fetus into a living patient as part of an experimental treatment for Batten's disease, a neurological disorder.
Shares of tissue repair developer Aastrom Biosciences rose 1 cent in after hours trading after rising 15 cents, or 12 percent, to close at $1.39 on Nasdaq. The Ann Arbor, Mich.-based company is aiming to use stem cells to regrow bone and regenerate tissue.
Shares of Alameda, Calif.-based Advanced Cell Technology also rose more than 14 percent on the possibility that federal funding could soon flow to the stem cell therapy innovator.
Shares rose 13 cents, or 23.6 percent, to close at 68 cents on the over-the-counter market.
Last summer Advanced Cell Technology came to national attention after it revealed a technique to grow stem cells from a single human cell taken from a human embryo. Prior methods for harvesting stem cells require the destruction of human embryos, which many Americans, including Bush, see as unethical.
Fellow California biotech company Cord Blood America saw its shares rise 2.9 cents, or 30 percent, to close at 12 cents on the over-the-counter market. The company collects and preserves umbilical cord blood from newborn infants for use in future stem cell treatment. Cord Blood issued a release Thursday stating that blood collected by the company was used for the first time in the treatment of childhood leukemia by doctors at the University of Pennsylvania.
"Please note a correction....Impart Media Group will be not merely attending, but will be exhibiting the company's services and products.
LC Group"
*Impart Media Group* (OTCBB:IMMG) will be attending the following events in the next 110 days;
*
*
*
2007 Upcoming Events*:
* *2007 International CES*: January 8-11, Las Vegas, with Vira
Manufacturing at Booth #71356
LINK: http://www.cesweb.org/default.asp
* *2007 National Retail Federation*: January 14-17, NYC, with SLABB
at Booth #2446
LINK: http://nrf.a2zinc.net/annual07/public/enter.aspx
* *GlobalShop 2007*: March 7-9, Las Vegas, with Vira Manufacturing
at Booth #3423
LINK: http://www.globalshop.org/globalshop/index.jsp
* *National Association of Broadcasters* (NAB2007): April 16-19, Las
Vegas, with Digi-Data Corporation
LINK: http://www.nabshow.com/
*IMMG Partial Client List*: Aramark, AT&T, Bass Pro Shops, Bell Canada, Boeing, Cinnabon, Citizens Bank, Clear Channel Outdoor, CVS Pharmacy, Dole Foods, Equity Office Properties, Hibernia Bank (CapitalONE), Maxima
103 (Mexico), Mediplay, Microsoft Corporation, Momentum (UK), NEC Displays, Neiman Marcus, Nordstrom, Paradies Shops, Pier 1 Imports, Progressive IMG, Publix, Radio Shack (Canada), RediClinic, Safeway, SHARP Electronics, Union Bank of California (UBOC)
Rick Lutz
LC Group
Investor Relations for IMMG
LCGroup@mindspring.com
404-261-1196
:)
Article mentions Starcrest (nothing new), upcoming licensing round, etc. Here' headline:
Nigeria: Hoarding - NNPC Begins Closure of Petrol Stations
http://allafrica.com/stories/200701020740.html?viewall=1
Yes, I've heard that it can be much easier and less costly to reverse merge into a shell as opposed to going public otherwise.
Really the little I know about shells is what I've read by trusted posters on Ihub as I don't trade them. (So probably shouldn't have even tried to answer the original question.)
I did a quick search, though, and it seems Stock Lobster is also very familiar with shells. I've asked if he would jump into this conversation and try to answer some of these questions.
I don't think the questions are dumb at all. In fact, to make sure your questions are answered correctly and succinctly, I've asked someone who I consider an expert in this area (and many others) if he could respond to your questions.
If for some reason he isn't able to, I'll look up some of his old posts for you.
Shell Corporation
A corporation without active business operations or significant assets.
Shell corporations are often formed before commencing operations to obtain financing. Sometimes, they may be used as a front in tax evasion.
http://www.investopedia.com/terms/s/shellcorporation.asp
BB, are you saying it makes sense because it's cheap? And that's the advantage to SEO?
Sorry, I'm just not clear on what you were saying. Tia.
OT: Much better picture, you're such a whiz with all the pictures...so you think it's Oliphant? :)
OT: When I was researching Niger Delta, came across this. The name of blogger is "Oily Sam" and it struck me he just might be our very own "Oily"?
Of course, this is all in fun but it is an interesting coincidence.
http://crudediggers.blogspot.com/
Semi-OT: Another Niger Delta
http://www.champion-newspapers.com/sunday%20files/Features/features.htm
Semi-OT: Niger Delta
http://www.newswatchngr.com/editorial/allaccess/special/11203155030.htm
"low- to medium-risk"? Is there any oil producing area any "riskier" than the Niger Delta? I think it would have to be in, at least, the top 3 "high risk" locations by anyone's standards.
And, Happy New Year, to all!
HAPPY NEW YEAR, ALL!!
That's great, Stock Lobster! Happy New Year!
Holiday shopping brings out the worst in people. I had a similar experience at the grocery store yesterday.
Very nice! Thanks!
Jack, I just checked Pacer and nothing new has been filed.
Badog, the theory behind why he would be selling any shares now is that he needs the cash. I believe there's some fee(s) due for the recent Addax, Starcrest deal.
Also, it has been suggested that he needs cash to fund political contributions for the upcoming elections. Apparently, this is a "prerequisite" for maintaining power and receiving political favors in the future in Nigeria.
There has also been discussion about the powerful folks he may be "fronting" for becoming impatient with the current pps. They may have a need for cash as terms are ending, etc. and may be pressuring Offor for some cash and/or increase in pps.
These are suggested motivations which, imo, are conceivable. The $3 - $6 range for buyin/buyout scenarios are not. But, hey, hope I'm wrong.
Yes, but in Barry's article it says "may be taking". Like you, he may be connecting dots. Did WB leave on favorable terms with Offor? Did Matzke leave on favorable terms with Offor? I have no idea.
But, in the past, you've suggested that WB was not necessarily "above board" when CEO of ERHC and that Offor possibly terminated their relationship based on this. Why would Offor make a deal with him?
And, in my observations of Meridian's postings, if he doesn't want to answer a question, he simply doesn't. Other times, he says things like "I'm sorry I can't comment on that". So, if you are going to take other posts of his as factual then I think the one posted earlier, where he says "coincidence", would have to be taken with that same measure.
Bb, I think you've referenced the Meridian/WB connection in the past. This is what Meridian had to say about Matzke, WB, MPE and ERHC.
By: mz157 Send PM Profile Ignore Recommend Add To Favorites
MERIDIAN
Meridian,
whats your take on the whole Matzke-WB-Millenium PE situation? any relevance or just coicidence?
By: Meridian Send PM Profile Ignore Recommend Add To Favorites
Posted as a reply to msg 4206 by mz157
Re: MERIDIAN
IMHO I would say just coincidence.
Happy New Year, to you, too!!
Just found this and thought it was an interesting idea on how to "recycle" Christmas cards.
I haven't spent very much time on the site, but the theme seems to fit well here...The Frugal Life.
http://www.thefrugallife.com/
"Christmas Cards - Don't Trash or Stash Them
by Donna Watkins
I thought I'd share a Holiday Tradition that makes Christmas cards "last"much longer than just for the month of December. It takes away the guilt of just tossing them in the trash......and takes away the clutter of putting them away.
As the cards arrive in the mail, we sit them around the house as they come in so we can be reminded of the many friends we have been blessed with. After Christmas Day we gather them up and put them in a basket and schedule a time to pray over each person and family that sent them. It's a special time to slip into lives in a way that will bless them for the year to come --- and possibly for eternity.
When our son was little and life was a bit more hectic, we would place them on the kitchen table in a basket or napkin holder and each of us would draw one to pray for before we ate each meal.
After we've prayed, we cut the covers of the cards into 4x6" postcards and write thank-you's on them. You can use the left side for the message, draw a line to the right of it, and then write the address and use a 20-cent stamp. This saves 12 cents plus the cost of note cards - and you "save a tree."
A postcard gives just enough space to say thank you and makes the task quick and fun. It isn't as intimidating for children as a note card sometimes is with all of its blank space to fill in, and it teaches children an important character quality: gratefulness."
FG inaugurates committee on 2007 bid round
By Luka Binniyat
Posted to the Web: Tuesday, December 26, 2006
ABUJA —A nine-man special committee has been set up and inaugurated by the Federal Government to work out the set rules for the processes leading to the award of oil blocks at the 2007 bidding rounds for oil and gas blocks.
The committee was set up by Dr. Edmund Daukoru, the Minster of State for Petroleum, following a directive from the presidency that measures be taken to review the bidding process and to plug any perceived loopholes in the previous rounds.
This development is seen as the outcome of recent controversy generated over the acquisition of oil block 291 by the Addax/Starcrest consortium during the 2006 bidding round which led to the suspension and recall of the Director of Petroleum Resources (DPR), Mr. Tony Chukwueke.
Source said “the idea is to bring more transparency into the award process and to strengthen the capacity of the agencies by widening the membership of the supervising team”.
Part of the committee’s mandate is to overhaul the existing processes and to come up with the best way to handle the 2007 bidding round to engender more investor’s confidence and avoid controversy.
Daukoru, at the occasion, spoke of the need for the committee to immediately get down to business and to critically understudy the existing processes so as to advise government appropriately.
Members of the committee, which had the Minister of State for Petroleum Resources, Dr. Edmund Daukoru as the chairman include, are- the Attorney General of the Federation and Minister of Justice, Chief Bayo Ojo (SAN); a representative of the Minister of Finance, Mr.Bright Okogu; a representative of the Secretary to the Government of the Federation, Mr. J.O. Adeyemi.
Others are the Managing Director of the Nigerian Petroleum Development Company, Group General Manager of the National Petroleum Investment Management Services (NAPIMS-NNPC), Mr. George Osahon, a representative of the Petroleum Technology Development Fund (PTDF), Mr. S.M. Waziri and the reinstated Director of the Department of Petroleum Resources (DPR), Mr. Tony Chukwueke.
The committee has been given until the end of January, 2007 to completely draw up the format of the licensing round which would include the schedule for the 2007 edition of the bid rounds.
It could be recalled that in an effort to enthrone a more transparent exploitation of the nation’s oil acreage, FG introduced a number of innovations in the 2005 bidding rounds to include: the open bid arrangement where prospective investors jostle for operatorship licenses of oil blocks in an open and fair manner and the local content vehicle initiative aimed at encouraging indigenous participation in the petroleum industry.
http://www.vanguardngr.com/articles/2002/business/december06/26122006/b126122006.html
Opinion: Patrick should move quickly on stem cell policy
Written by Submitted
Monday, 25 December 2006
By William M. Caldwell IV
As the only major private embryonic stem cell research company in the state, we at Advanced Cell Technology are delighted to see someone with a pro-science stance as the incoming governor.
Governor-elect Patrick’s views on stem cell research reflect those of most Massachusetts voters, and indeed most Americans. Chiefly: A belief that the government must fund basic scientific research, including stem cell research.
But a lack of public understanding of the nature of human embryonic stem cells (hESC) research has politicized funding for that work, and pushed treatments farther into the horizon, particularly those in the field of regenerative medicine.
Regenerative medicine uses hESCs to provide a well-characterized, reproducible source of replacement cells for clinical studies, and the potential treatment of devastating diseases and injuries, including Parkinson’s, retinal disease, cardiac disease, diabetes, and stroke.
Advanced Cell Technology has made great progress toward the goal of bringing the promise of embryonic stem cell research to the bedside. In August of this year, we published our technique for generating new embryonic stem cell lines without harming the embryo’s potential for life and development. Recently, we demonstrated positive progress in our retinal pigment epithelial (RPE) program, which showed how cells in the eye – derived from our hESCs – could potentially restore vision.
This progress in the field is encouraging, but forward movement in hESC research has been hampered by the ban on federal funding of new embryonic stem cell lines. Simply put, with more funding, we could move much faster toward eventually bringing potential cures to millions of Americans.
The National Institutes of Health (NIH) is not currently authorized to fund hESC research - particularly "translational funding," designed to transform scientific research into products. This type of investment offers the greatest bang for the buck, in terms of job creation, and return on investment of government dollars.
Until those restrictions are lifted, states must fill the gap.
Those states that have enacted pro-stem cell legislation – such as California and Missouri – sent a message to the country and the world that they are a pro-growth, pro-science environment. This is critical in a globalized economy, where billions in investment dollars can flow across state and country lines in a heartbeat.
Voters’ reactions to Deval Patrick’s solid stance on stem cell research is encouraging, and we welcome his leadership.
Most of all, we encourage him, on his first day in office to be as bold in deed as he has been in words, and put forward legislation to fund embryonic stem cell research.
Such a decisive move would send a strong message to the citizens of Massachusetts, and the country as a whole. While others wax and wane, or get bogged down in needlessly politicized debate, the Commonwealth will fund this research, and do its part to help lessen human suffering – in Central Massachusetts, throughout the state, across the country, and around the world.
William M. Caldwell, IV is chairman and CEO of Advanced Cell Technology, Inc., which has operations in Worcester and in Alameda, California.
http://wbjournal.com/j/index.php?option=com_content&task=view&id=978&Itemid=128
Sam, try Janice on the Food board. I remember her talking about a pepper spray for, I think, Japanese beetles.
http://www.investorshub.com/boards/board.asp?board_id=496
Yes, it does help. I thought it was a good question and found your reply very interesting.
And, a thank you, too for keeping us all up to date on all the latest news!!
Boas Festes, to you and yours!
Homeport, since you are our expert on STP, I was wondering if you would take a stab at explaining this from Oilman earlier? Your earlier article re: the airport there would seem to only confirm that they're in dire need of money. Appreciate it if you have time.
http://www.investorshub.com/boards/read_msg.asp?message_id=15713583
Sorry, dk, I wasn't clear in my post. The "developer" is building a huge coomunity with a lot of houses on thousands of acres. He couldn't build any houses on this portion of the land (because it was wetlands, prone to flooding) so he donated it to the county. The county then made a running track and hiking trails through the woods. Then most recently they've added the dog park area.
Now that you mention it, it does! I had no idea that was the purpose, THANK YOU!
Good morning, OU! The only thing I can come up with is maybe it's for older dogs who have hip or joint problems and can't walk as far/fast as their owners?
Hope you have a good day!
Maybe it's new to where I live because the area was mostly rural until about 5 years ago. Now that the suburban sprawl has taken over, there's more of a need for this.
In fact, this park was donated by a developer because it's a wetland area and he can't build on it anyway. There was only a small muddy patch yesterday but I can imagine it's a mess after it rains.
I had never heard of one before either. But since getting this dog, I've heard of all sorts of things I didn't know about. Apparently just south of me, there's a "Doggie Daycare" for "parents" who work to drop their dogs off while they are gone. There is also an indoor playground for dogs being built not too far from where I am. Not sure what that one is all about yet, though. I'll let you know when I hear more.
I do have kids but they are girls with a 5 year age difference...so we have more verbal sparring than anything physical. But, I do understand what you're saying.
I know it's a busy time of the year for you, Santa, so really appreciate you taking the time to respond! :)
Merry Christmas!
Ok, what's considered an "attack"?
Editorial re: Anambra politics:
http://www.vanguardngr.com/articles/2002/viewpoints/vp320122006.html
Hi, all, another question re: the dog.
She is VERY high energy and so we took her to a "dog park" today...which basically means a fenced area at a local park that dogs are allowed off their leashes. I have no experience with this type of place but was very uncomfortable with the way the dogs behaved.
She tried to play with some of the other dogs but about six of them surrounded her and were nipping at her. I went over to get her and the other dogs immediately backed off. After that she stayed at the far end of the fenced area and didn't venture close again. Then as other dogs came into this area the pack would surround the new dog and nip, etc. until the dog was lying on the ground.
I then took her to a different fenced area that only had 2 dogs in it. There was a chow mix that was "playing?" with her but my dog, Cocoa, had her teeth bared and was not attacking but lunging when he came close. She came and stood close to me and I could tell she was looking for protection. So we left.
She really enjoys playing with other dogs in my neighborhood so I don't think that she's unsocial with other dogs...she actively seeks "friends" here.
I was talking with the chow's owner and he was saying "oh, just playing, this is good for her, the more you bring her here the more she'll learn". Yet, I could tell she was uncomfortable with the aggressiveness and, seeing this, I was uncomfortable.
All of these other dog owners apparently felt that this was appropriate behavior and were completely unfazed by it.
Any insights anyone can offer would be appreciated.
Investors wanted - must have vision, passion
A personal interest often is key to finding financial support for controversial research
By Terri Somers
UNION-TRIBUNE STAFF WRITER
December 17, 2006
Times are tough for biotechnology companies hoping to raise private investment capital.
Venture capital firms generally wait longer – until a product is more fully developed – before they are willing to risk their money in biotech.
Alan Lewis (left) is chief executive of San Diego-based Novocell, and Ed Baetge is chief science officer. Novocell, which has coaxed human embryonic stem cells to become insulin-secreting pancreatic cells, is one of less than a dozen human embryonic stem cell companies in the world.
That makes it almost impossible for companies working on human embryonic stem cell research to find financing because so much is unknown about how those few cells morph into the more than 200 cell types in the body.
Using human embryonic stem cells to develop cures and treatments for Parkinson's disease, heart disease, cancers and other diseases is still decades away, say those in the field.
Worldwide, only about a dozen companies are building a business based on human embryonic stem cells, and only three of those are publicly traded: Geron in Menlo Park, Advanced Cell Technology in Alameda and Stem Cell Sciences in Edinburgh, Scotland.
Executives at several of the companies say the key to tapping funds at such an early stage is either finding someone with deep pockets and a personal passion for curing disease or possessing a unique technology to address a potentially huge market.
Given the current business climate and the political and moral debate surrounding human embryonic stem cells in the United States, people in the business don't expect more competition to pop up soon.
“For a company to find financial support in this field, there has to be a large market and clinical need; that's why we are focusing on diabetes,” said Edward Baetge, chief scientific officer at Novocell, one of two San Diego companies working with human embryonic stem cells.
Novocell recently announced that it has figured out how to use human embryonic stem cells to create insulin-producing pancreatic cells in a petri dish. The company hopes this discovery is a giant step in its effort to create a treatment for Type 1 diabetes, a progressive disease in which the body's immune system attacks the pancreas and its ability to secrete insulin and other hormones that regulate blood sugar.
Human embryonic stem cells, shown here in a a petri dish at Novocell, eventually morph into more than 200 different cell types.
Although Novocell has found some investors who believe in it, promising science does not typically beget enough investor interest to support a business, Baetge said.
“You really need visionaries who believe that if they support the company long enough, it will produce results that will revolutionize medicine,” Baetge said. “That's why there aren't a lot of stem cell companies.”
There were enough visionaries in the public markets of Europe to allow Stem Cell Sciences to list its shares on the London Stock Exchange's Alternative Investment Market. The company grows, differentiates and purifies embryonic stem cells, which it sells to research labs.
Geron trades on the Nasdaq market and reported $175 million cash on its balance sheet at the end of the last quarter. Besides its stem cell program, it also is developing cancer therapies.
Advanced Cell Technology shares, which raised $8 million in private financing in January 2005 and did a reverse merger a month later to become publicly traded, had $13.1 million in cash and cash equivalents at the end of the last quarter. Its shares trade on the over-the-counter market.
Novocell, which is private, has raised about $33 million since 2004, when it was formed by the merger of three companies, Chief Executive Alan Lewis said.
Federal funding in the United States is limited to human embryonic stem cell lines that were created before August 2001. Most of those lines are not pure enough to be used in humans.
Because the companies are working on therapies, they are using lines not approved for federal funding. That makes them ineligible for federal small-business grants and loans and forces them to look for philanthropic grants and academic collaborations to stretch their budgets.
Novocell has received grants from the National Juvenile Diabetes Research Foundation.
Advanced Cell Technology also has received grants from patient advocacy groups. It moved its corporate headquarters from Massachusetts to Alamada this year, to make itself eligible to apply for funding from California's $3 billion stem cell research funding initiative.
The other San Diego company doing stem cell work, Stemagen, was founded by Samuel Wood, an in vitro fertilization specialist in La Jolla. Wood is using his own money, along with funds from undisclosed partners, to keep the six-person company running.
“I saw too many excellent quality embryos (left over after the in vitro fertilization process) being discarded,” Wood said.
He concedes that alone does not make for a good business plan. He is driven by passion and experience, having watched his mother die of diabetes-related illness. The father of one of his business partner's died of Lou Gehrig's disease, or amyotrophic lateral sclerosis, a fatal neurodegenerative disease.
Wood and his partners were not content to wait two years for a change in administrations in Washington. They were frustrated watching legal challenges stall California's stem cell initiative.
Stemagen has made several embryonic stem cell lines, which they donate to research institutions internationally.
“One of the reasons progress in this field has been slow is because the availability of high quality embryonic stem cell lines is so scarce,” Wood said.
Stemagen wants to help fill that need.
The company also is attempting to make embryonic stem cell lines that have the genetic makeup of a specific patient, even though the egg used in the process did not come from that patient.
This process, called somatic cell nuclear transfer, was thought to have been perfected by South Korean scientist Woo Suk Hwang, until his studies were shown to be fraudulent last year.
Not many researchers have experience with this cell cloning process, but Wood found a scientist at Monash University in Australia, Andrew French, who has done the procedure an estimated 10,000 times on animal eggs and cells.
Wood said that the company has received several million dollars in initial funding, which is adequate for its currently planned activities.
The financial spigot appeared to be off for a while at Advanced Cell Technology. Telephone service was shut off and employees weren't being paid at one point, said Chief Science Officer Robert Lanza. He credits new management with reviving the company.
Lanza frequently receives letters from patients and their relatives who hope the company's research into macular degeneration strikes gold. They make him even more frustrated with the funding limits in the United States.
“There's more money spent on a tire for a B-52 than there is invested in our entire company, and we are involved in something that has the potential to revolutionize medicine,” Lanza said.
So why start a company at this point?
“We're filling a void,” Lanza said.
The void occurred at nonprofit research labs in the wake of federal funding restrictions.
For decades, the federal government has funded basic biomedical research through the National Institutes of Health. Money is disbursed through research grants awarded to investigators at universities and academic institutes, such as the Salk Institute for Biological Studies in La Jolla. The funding also is used to pay the salaries and expenses of scientists at the NIH's many bodies, such as the National Cancer Institute.
It is typically these government-funded researchers who uncover the first clues for a new therapy to treat disease. One such discovery could be a target in the body that plays a role in disease, such as a hormone that helps regulate blood sugar.
Universities and private labs then sell these discoveries to private industry, such as biotechnology companies, which pour millions of dollars into figuring out how to make a drug that mimics the hormone that helps control blood sugar.
It is private industry that has the experience in formulating drugs and running clinical trials.
Limiting the stem cell lines on which private labs can work has choked the research pipeline, scientists said. Advanced Cell Technology is doing its best to pick up some of that slack, at least in its area of expertise, Lanza said.
Another benefit to a company performing basic research is that its scientists can concentrate on one particular area, and one particular problem, he said. The goal of all that work is commercialization.
Academia is not as focused and its funding is for hypothesis-driven, or “what if?” research, not commercialization, Lanza said.
The entire human embryonic stem cell field is now watching Geron, a publicly traded Bay Area company that is widely expected to be the first to put a therapy into human clinical trials.
In the second half of 2007, Geron plans to ask the Food and Drug Administration for approval to begin trials for its treatment for spinal cord injury, Chief Executive Tom Okarma said.
Geron wants to treat people whose spines have been crushed, causing paralysis, with oligodendrocyte progenitor cells grown from human embryonic stem cells. The oligodendrocyte progenitor cells support neurons in the brain and spine by sheathing them in myelin, a fat that helps neurons transmit signals.
Experiments in rats with injured spines show that transplants of these cells help restore movement. And Okarma said his company has done experiments showing the immune system won't react negatively and attack the implanted cells as foreign bodies.
“We hope Geron gets into the clinic and is successful in its first embryonic program because one clinical success will change the ethical debate ... even in the U.S.,” said Simon Best, a British biotechnology executive who is past chairman of the international Biotechnology Industry Organization's ethics board.
Others in the industry worry that problems with Geron's human trials could indirectly hurt everyone in the field, by giving ammunition to those who oppose the research.
Geron takes its pioneer role seriously.
“We've poured over $110 million into the (stem cell) platform since ... 1995, so we have an 11-year track record supporting the work,” he said. OKARMA?
That investment has included sponsoring the research of several scientists in academic labs. They include Hans Keirstead at the University of Southern California, whose work on spinal injuries has led to the planned clinical trials, and James Thomson at the University of Wisconsin.
Thomson is the scientist who patented the process for deriving stem cells from of an embryo and growing them in a petri dish to form a stem cell line. His patents, which now amount to three, require any researcher in the United States working with human embryonic stem cells to pay a fee to the University of Wisconsin. If a foreign researcher or company wants to use human embryonic stem cells to make a product and wants to sell that product in the United States, they must buy a license from the University of Wisconsin.
In exchange for its investment in Thomson, Geron was given the exclusive rights to use embryonic stem cells to study the creation of neural cell therapies, cardiomyocytes for heart
disease, pancreatic islet cells for diabetes, and blood producing cells.
Companies that want to delve into those areas must obtain a license from Geron.
Scientists around the world complain that the patents are too broad, giving the university too much influence on the work others are pursuing.
“One could speculate that if the current restrictions on U.S. federal stem cell funding would be liberalized, the market for our stem cells would grow, at least among academics,” said Mikael Englund of Cellartis, a Swedish company selling embryonic stem cell lines to drug discovery companies.
“For Cellartis ... (the conditions) that have the greatest impact on our business are clearly the patent and licensing issues,” Englund said.
Okarma, Geron's CEO, defended his company's intellectual property rights.
“When we started, there wasn't anything,” Okarma said. “Our investors had to take all the risk in hopes that we would get the IP. This whole empire was created on our nickel.”
--------------------------------------------------------------------------------
Terri Somers: (619) 293-2028; terri.somers@uniontrib.com