I just read your post on GERN. I have also followed this company for several years. This was from a post I made on GERN in 8/2001.
"IMO GERN is considered the leader in embryonic stem cell research. Their purchase of the Roslin Bio-Med will allow their continued research outside of the US if a complete stem cell ban is passed by Congress. I believe they bought Roslin for the "Dolly" technology, and their investment in Roslin IMO makes GERN one of the "survivors" in this area of research. If there is a complete ban on stem cell research in the U.S., probably many of the researchers in this area will move to England where the laws are favorable for stem cell research."
I would agree with your thoughts, that the refocus on the telomerase platform is what seems to hold the possibility of profitability for this company in the future. From the Yahoo web description of GERN: "The Company's product development programs are based on three patented core technologies: telomerase, human embryonic stem cells and nuclear transfer. Telomerase is an enzyme that, when introduced into normal cells, is capable of restoring telomere length, consequently increasing the lifespan of cells without altering their normal function or causing them to become cancerous; human embryonic stem cells enable the development of transplantation therapies by providing standard starting material for the manufacture of cells and tissues, and nuclear transfer is used for the creation of cloned animals."